INTEREST ON FARM LOANS 697 



the payment of his loan, and requiring an annual curtail maturing at 

 periods best suited to local conditions, the account would be made 

 sufficiently liquid, even in stringent times, to satisfy the demands of a 

 life insurance company. When financed in this manner, it would be 

 an easy matter for the farmer, if pressed for funds when payments 

 mature, to secure locally temporary accommodation to enable him to 

 meet maturing payments. 



What the farmer can do. We have said much about what the com- 

 panies can do to get closer to the farmers. But men do not seek to 

 get closer to those who are not attractive, and money, being directed 

 by men, does not seek unattractive fields. The farmer must do his 

 part. Individually, he can help by not attempting to borrow too 

 great a percentage of his property value, thus making his security 

 more attractive; by being careful to see that his remittances to cover 

 maturities reach the place of payment on time or a day or two in 

 advance rather than whenever it suits his convenience; by maintain- 

 ing in good state of repair the improvements on his land; by improv- 

 ing his methods of cultivation so as to build up rather than to wear 

 out his land; by supporting legislative measures giving to foreign 

 capital every safeguard and protection which may be reasonably 

 expected. 



The farmers' organizations may do more by advertising to the 

 world the substantial value of the lands which its farmers own rather 

 than the speculative and untried opportunities thereof; by organizing 

 for collective rather than individual bargaining for credit and thereby 

 eliminating much of the present expense; by preaching constantly .to 

 their members the importance of a fair and reasonable attitude 

 toward foreign capital; by urging upon their members the importance 

 of promptly meeting their obligations in accordance with the terms 

 1 of the bond or mortgage; by seeking to learn the desires and require- 

 ments of foreign lenders so that local conditions may be conformed 

 thereto, if possible; and by advocating the passage of laws framed with 

 the co-operation of those to be attracted thereby, and calculated to 

 render in all respects less difficult the lending of money to their 

 members. 



The preparation of an abstract of title is responsible for a large 

 portion of the expense which we have been discussing. After prepa- 

 ration locally, the abstract must be carefully checked by the legal 

 department of the company making the loan, and after all this, unless 

 some method of state land registration has been adopted, it is merely 



