26 BOARD OF AGRICULTURE. [P. D. 4.. 



With the general interest in agriculture all over the country 

 various new systems of financing the farmer are coming to the 

 fore, and some of them offer easy and simple methods of 

 borrowing. While some are legitimate business propositions 

 others are purely philanthropic, and as such should be con- 

 demned. No bank or organization should be asked or even 

 volunteer to loan money at no profit. If agriculture cannot be 

 made to pay as a business it certainly should not be bolstered 

 up by leaning on other business. We believe that there is a 

 legitimate field for profit in a simple system of credits to 

 farmers, but paternalism and philanthropy should not enter 

 into transactions relating to the loaning of money to farmers. 

 Capital is more than ever needed to develop agriculture in our 

 State, and there is plenty of room for the expansion of capital 

 in this direction through many channels not previously used. 



It may be of interest to our farmers to know that potatoes 

 have been added to the list of farm crops upon which money 

 may be borrowed upon presentation of storage-house certificates. 

 The notes given the local bank are rediscounted through the 

 Federal Reserve Banks, thus placing potatoes with wheat, corn 

 and oats as a borrowing agency. 



As an illustration to show that notes given by farmers are 

 paid promptly, in New York this year a group of men organ- 

 ized to loan money to farmers in order to encourage greater 

 production of cereals, swine and sheep. A large amount of 

 money was loaned on short-term notes, and it is now reported 

 that 85 per cent of these notes were paid upon maturity, 11 

 per cent were renewed, until crops were harvested, while only 

 4 per cent were questionable. 



The Market Question. 

 The law passed in 1915 requiring cities and towns of over 

 10,000 inhabitants to set aside public places for market sites, 

 and which was complied with by over 50 cities and towns, has 

 been little used until this year. Under the stress of distributing 

 the large crops, particularly of garden vegetables, and in the 

 desire on the part of the public to deal first hand with the 

 farmer, a general wish to make use of these places has come 

 about. Added to the places set aside and approved by the 



