1953 Agriculture Disaster loans article - TMalmay

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1953 Agriculture Disaster loans article - TMalmay - months when mosti high-! S. D. Farmland "Oases"...
months when mosti high-! S. D. Farmland "Oases" u n - . W. j Hand County is particularly blessed in country stores, that community having three of them. Above is the Ames store, located in southwest · Hand County and owned by Ross McKinney. Says Farmers Are Not Making Full Use Of Land And Labor Resources * * * BERKELEY, Calif. (UP) -- Be- ditions which are fair and profit- tween one and two million Ameri-i bl e to a U concerned." little can farm families have incomes! Nevertheless, many farmers "lack When hive, the avail- vate or cooperative credit sources. With each loan, the FHA provides "a good deal of technical assistance in farm and home manage-! ment . . . to safeguard the government's investment and to make sure that the farm family gets the maximum value out of the loan." FHA loans fall into two main classes: real estate credit and operating credit, said Hollenberg. FHA field offices have almost full authority for granting loans. FHA i county committees, made up of [local farmers, "determine appli- t cants' eligibility . . . the jknowledge that the pommitteemen i have of the applicants' background l a n d ability is invaluable as a safeguard to the making of sound [productive 'loans.'" In the field of real estate loans, Hollenberg estimated that about 72,300 families have borrowed about $450,000,000 since 1938 and almost per cent of the loans have been fully paid long before due dates. Work Justified In the field of operating loans, more than a million low income farmers have received credit since 1935. Water loans, since 1937, assisted more than 28,000 families in 17 western states and totaled about 517,000,000. Disaster loans, between April and December 1951 totaled $80,000,000 and averaged 51,445 per loan, "indicating that the borrowers are mainly family-type operators." Summarizing, HoJlenberg said: "The experience of the past two g a little a make his their land and labor resources, ac- cording to Ralph W. Hollenberg, were jstate director of the Farmers Home Administration for California, Ne- American farms. The foremost need -..c xu.?_. i_i · _ low for "decent living" and are' t ' l e skill," the land resources, the little jnot making good or full use of i equipment and the capital that are needed to keep up with the steady rise of productive ability that has taken place on the majority of them hive i aid, adding":' vada and Hawaii. Despite this condition, great progress has been made, Hollenberg "In 1930 . . . about 42 per cent of ;the nation's farms were operated jby tenants. By 1952, less than 25J |per cent of the nation's farms were Dakota ^riant-operated and many tenants, in a solution of this problem is credit -- credit accompanied by assistance in the planning and execution of a sound farming system. Two Types Of Loans "The services of the Farm Home Administration, Hollenberg noted, "are limited to those who cannoi obtain credit elsewhere"--in other words, to those who cannot quali- decades indicates that the govern merit's efforts have been well justified there is real significance in the fact that every dollar -- il you count interest and principal repayment of the billion dollars that was loaned for operating purposes to more than a million farmers during the thirties and war years, has been repaid." Mr. Farmer: \Vhen you sell a load of produce on the market, invest a part of your return in U. Defense Bonds. Build up a reserve for the future. phos- rnoreover are farming under con- fy for Joans from established pri- ' ' --· Th« Huronllo and THE DAILY PLAINSMAN Wedneiday, February 11, 1953 ,15"

Clipped from
  1. The Daily Plainsman,
  2. 11 Feb 1953, Wed,
  3. Page 29

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  • 1953 Agriculture Disaster loans article - TMalmay

    Tom_Malmay – 24 Aug 2013

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