120 THE LURE OF THE LAND 



The fanner is too often regarded as an easy mark for 

 the man who has bizarre things to sell. Before he 

 knows it the farmer may have become deeply involved 

 for articles which are of no practical value, which do 

 nothing to increase his farming facilities, and which 

 upon the whole may be regarded simply as waste ma- 

 terials. Debts incurred for such purposes as these are 

 indeed a threat to the stability of the farmer's credit 

 and prosperity. 



In the purchase of land where the purchaser has not 

 the funds for cash payment, it seems to me there is no 

 distinction between giving the mortgage to the original 

 owner or in giving it to somebody else and paying the 

 original owner in cash. This is true only where the 

 rates of interest in the two cases are the same. Land 

 being the most stable of possessions, should be able to 

 bear a debt at the lowest rates of interest. In point of 

 fact, however, the rates of interest on money loaned on 

 farms are usually higher than on money loaned on real 

 estate securities in cities. Why this is so I cannot im- 

 agine, unless it be that many farmers are proverbially 

 slow pay and it is not always possible to convert a farm 

 mortgage into cash when the cash is badly wanted. 



PAY ALL BILLS BY CHECK. 



I have already mentioned that where it is possible to 

 have access to a bank which is reliable, the farmer 

 should keep his moneys on deposit and pay all his bills 

 by check. Not only is the paying of all bills by check 

 almost the simplest form of bookkeeping on the farm, 

 as a simple entry on the stub will be a sufficient guide 

 to review the character of the expenses, but the carry- 

 ing of loose money about in the pockets, or keeping it 

 about the house, has two distinctly unfavorable fea- 



