THE COUNTRY HOME 147 



for, they mortgage it again to buy more land in order to be sure to 

 have enough for a "rainy day." And early training has instilled in 

 them such a fear of mortgages that they continue to deny themselves 

 the comforts of life until they are all paid out. Often this goes on 

 and on until several hundred acres of land have been acquired. Then, 

 realizing that they are growing old, they decide to build a modern 

 home and enjoy life. But it is too late. The early habits have be- 

 come fixed. They may build the finest house in the community, and 

 surround and equip it with all the conveniences that money can buy. 

 But they cannot be happy because they do not know how to enjoy 

 these things. All their lives they have thought of nothing but saving 

 money and in so doing they have stunted their intellects and souls so 

 they will be miserable for the rest of their days. 



OUR LIMITED CREDIT FACILITIES 



The Federal Land Bank and the Joint Stock Land Banks go part 

 way in the solution of this problem. They loan to the purchaser of 

 land up to fifty per cent of its value in most parts of the country. 

 They furnish a loan that never comes due. By means of the prin- 

 ciple of amortization the borrower makes a nominal payment every 

 six months and in thirty-three years' time both principal and interest 

 are completely paid. The old dread of the mortgage becoming due 

 is removed. The borrower feels better able to invest part of his 

 income each year in things that will make his farming more efficient 

 and his life more satisfying. Among these things he will include the 

 improvement of his home. He feels free to give a little time and 

 thought to reading, music, and various forms of culture that make 

 him a better home man and a better citizen. 



But what about the young couple who want a farm home and 

 don't have the fifty per cent for the initial payment? The Federal 

 Land Bank cannot help them. There is no way for them to buy a farm 

 unless they can find some good friend who is financially able and 

 willing to loan them the other half of the price either on their per- 

 sonal note or with a second mortgage as security. But in the majority 

 of cases such a friend cannot be found. What, then is the result? 

 They must start out as tenants, probably on a farm that they can 

 never expect to own or to make their permanent home. And you need 

 not be told that it is a long and hard pull for them to get enough 

 money ahead to make the initial payment on a farm. Not only is 

 it a long and hard pull, and one that takes the best part of their lives 

 in doing, but in the great majority of cases it is work done on a farm 



