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a safe proposition for you to make long term loans to farmers on the amor- 

 tization plan, as suggested by Mr. Harris of Champaign, 111., Mr. Wood- 

 ruff of Joliet, 111., and others, and this would help the farmers immensely. 

 I do not think that you as bankers should be asked to loan money to 

 farmers on any different basis than to other business men. Give him the 

 same chance as you do the man on the street — he hasn't had this up to the 

 present time. The shiftless farmer should be treated ui the same way by 

 you as a business man in the town who in your estimation is not making 

 good. You ought to remember, however, that some one must carry the 

 farmer over from seed time to harvest, and that the crying need on most 

 farms is just a few hundred dollars more working capital each year. 



The matter of proper farmers' organizations to secure credit can be 

 made a simple one. Ten of fifteen farmers of a community might join 

 forces, declare their total assets, incorporate with a limited capital stock, 

 and mutually agree to back each individual of the group for a loan up to 

 a certain limit. This would be safe for you. Could anything be easier 

 for them? 



Individual bankers and the banking associations of Wisconsin, Minne- 

 sota, Illinois and other middle western states are behind the farmers of that 

 region. They support contests for boys; they are helping to secure larger 

 appropriations for schools and colleges; they are contributing toward the 

 support of county agents; they help secure legislation for better roads; and 

 in many other ways. 



Some one at the recent Bankers' Association meeting in Boston said 

 that the products of the American farms amounted to ten billions of dol- 

 lars, and that this was an amount greater than had been secured from 

 the gold mines of the world in the last twenty-five years. So you see that 

 in assuming this interest you are dealing with a subject of no mean pro- 

 portions. 



You men here in this great commercial and industrial metropolis, 

 representing the banking interests of the state, can do nothing better for 

 yourselves, your families or your nation than to get behind this move- 

 ment here in the East and lend your thought, influence and best efforts 

 to the support of the agencies which have for their aim the building up 

 of our eastern agricultural and rural life. 



Mr. Calwell: It has been the custom at these meetings to have 

 discussions. Dr. Kurd's paper emphasizes many things on the subject he 

 has addressed us, as to the different lines of work for the farmer, and for 

 college men, and if there are any questions to be asked Dr. Hurd will no 

 doubt gladly answer them. 



I would like to ask Dr. Hurd if he knows how much is appropriated 

 by the State of Massachusetts to his college for extension work. 



Dr. William D. Hurd: Our extension work has been organized 

 four years. The first year's appropriation was $10,000, the second year 



