The Dawn of a New Constructive Era 



107 



manent rather than on a speculative basis. One of the serious 

 troubles with Southern agriculture today is its unstable character. 

 If some practical plan could be worked out by which agriculture in 

 all its phases could be stabilized and conducted on a safe and sane 

 basis, it would be the most profitable business for the greatest num- 

 ber of our people to engage in. 



When the cut-over lands are developed it wnll necessarily be 

 on rather a large scale, and live stock offers perhaps the safest re- 

 turns, since with live stock we can handle the maximum amount 

 of land with the minimum amount of labor, while with crops the 

 conditions are reversed. 



We are working in a small way through our Extension De- 

 partment of the Agricultural College of Mississippi and our 

 Branch Experiment Station at McNeill in Pearl River Coun- 

 ty with the small farmers in the cut-over territory. Our purpose 

 is to help them develop their small farms on a permanent basis by 

 combining live stock with crops. 



The plan we suggest is for* each small farmer to have five dairy 

 cows, two brood sows, twenty-five sheep, twenty-five head of poul- 

 try, and then plan his crops so that feed enough to carry all live 

 stock will be produced, with a small surplus for sale. The bankers 

 and business organizations in many counties have agreed to 

 finance these small farmers, and our demonstration agents will 

 help plan his crop rotations and teach him the best methods of 

 handling his live stock as well as assist him in marketing his sur- 

 plus products. 



We do not expect very large areas of this cut-over land to be 

 converted into small farms immediately, but we think this a begin- 

 ning in the right direction. 



In the past the absence of cheap money and long-time loans 

 prevented many from going on the farm, but since the passage of 

 the Federal Farm Loan Act we find the interest in farming increas- 

 ing. While I consider the passage of the Federal Farm Loan Act 

 one of the most constructive pieces of legislation passed in recent 

 years, I also think that cheap money is a menace to th° masses. 

 Cheap money on long-time payments is very alluring, and 1 fear 

 too many will avail themselves of the opportunity to borrow money 

 without having first carefully worked out plans for its safe invest- 

 ment. I think every man who borrows money should be required 

 to submit in writing a carefully thought out plan for spending the 

 money and have this plan approved by a competent committee. 



Financing the 



Small 



Farmer 



The Good and 

 Evil in Cheap 

 Money 



