Federal Farm Loan Bonds 



Supply Funds To Finance Farmers 



The First Year's Work 



The bond of the Federal Loan System should 

 command the attention of all investors. 



The Federal Farm Loan System is the one agency 

 of the United States Government which will bring 

 to America month by month, year by year, and 

 decade by decade through all the futureahighgrade 

 security, issued for the purpose of carrying out a 

 great national agricultural policy. 

 The whole world looks for salvation to the Amer- 

 ican farmer. 



The American farmer looks for financial help to 

 the Federal Farm Loan System. 

 The Federal Farm Loan System seeks to enlist 

 the wise investor in its movement to finance the 

 farmer safely, soundly and conservatively, and 

 thus save the world. 



There are twelve regional Federal Land Banks, 

 all operated under the inspection, examination and 

 control of the Federal Farm Loan Board, a bureau 

 of the Treasury Department at 'Washington. 

 The first of these banks to be organized received 

 its charter March 1, 1917. Others were chartered 

 immediately afterward. The farmers borrow 

 through national farm loan associations. The first 

 of these associations received its charter on March 

 27, 1917. 



On March 31, 1918, associations had been formed 

 to the number of 2808, or about four associations 

 to every five counties in the United States. 

 About 56,000 farmers had joined these associa- 

 tions for the purpose of borrowing money on farm 

 mortgages. 



Loans amounting to over $160,000,000 had been 

 approved by the banks and on over 30,000 of these 

 loans money had been paid to the farmers to the 

 amount of about $80,000,000. 

 And since March 31st the work 

 has gone on — new associations 

 have been organized; new applica- 

 tions have been made; new bond 

 issues have been authorized. 

 And it will go on forever. So long 



Springfield, Mass. 

 Baltimore, Md. 

 Columbia, S. C. 



Louisville, Ky. 

 New Orleans, La 

 St. Louis, Mo. 



as investors will buy Federal Farm Loan Bonds, 

 and so long as farmers need money and can give 

 security this work will go on. It is a mighty move- 

 ment to put farming on a better financial basis. 

 You can enlist in it to your own profit and to the 

 good of the Nation by buying Federal Farm Loan 

 Bonds. 



Federal Farm Loan Bonds bear 5 per cent interest, 

 payable semiannually. May and November, and 

 in the language of the Federal Farm Loan Act, 

 "shall be deemed and held to be instrumentalities 

 of the Government of the United States, and as 

 such they and the income derived therefrom shall 

 be exempt from Federal, State, Munipica^ and 

 local taxation." It will be noted that this exemp- 

 tion is complete. Interest on these bonds need 

 not be included in income tax returns. 

 Such exemption from taxation in a five per cent 

 bond constitutes an advantage hitherto unknown 

 in American investments. These bonds are issued 

 in denominations of $25, $50, $100, $500 and 

 $1,000, and in either coupon or registered form. 

 They are due in 20 years and redeemable after 5 

 years. 



Federal Farm Loan Bonds are printed in the 

 Bureau of Engraving and Printing in Washington, 

 and have the same protection against counter- 

 feiting that is enjoyed by the currency in your 

 pocketbook, 



In the language of the Farm Loan Act, Federal Farm 

 Loan Bonds "'shall be a iawfui investment for all 

 fiduciary and trus<: funds and may be accepted as 

 security for aL public deposits.' You can offer 

 your banker no better collateral. 

 You can buy Federal Farm Loan 

 Bonds at 101 and accrued interest. 

 Order through any bank, trust 

 company, broker or express agent, 

 or write to any of the twelve 

 Federal Land Banks: 



St. Paul, Minn. 

 Omaha, Neb. 

 Wichita, Kans. 



Houston, Texas 

 Berkeley, Cal. 

 Spokane, Wash. 



This space contributed by ^ ^ 



AMERICAN BEE JOURNAL 



HAMILTON, ILLINOIS 



or address: 



FEDERAL FARM LOAN BOARD 



Treasury Department, 



Washington, D. C. 



