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Wisconsin bankers' farm bulletin
(1913-1919)

Baker, Raymond
Wisconsin bankers' farm bulletin. Bulletin 38: how to borrow money to buy cattle PDF (1.0 MB)



   How to Borrow Money to Buy Cattle
       "Most bankers are as willing to extend credit to the farmer as
to the
   logger or manufacturer. Progressive banks are not now satisfied to be
   merely brokers. They have taken on the funotons of development
   agencies and community builders. The live stock industry is growing in
   banking favor. Many bankers stimulate the industry, encourage better
   breeding and urge farmers to use their banks in order to get better
   live stock."
   Few people doubt the wisdom of live stock farming. In the long run, no
other
branch of agriculture averages greater success. It wins because it is sound.
   Money and credit are the biggest advantages some Wisconsin farmers lack
to
build up, in their communities, a still greater profit producing live stock
industry.
    "How can we get better stock?" "Where?" "What
breed?" "How organize?"
'How can we safeguard ourselves in the purchase of breeding animals?"
When
these questions are answered to their satisfaction, we can look for still
greater
development in the live stock industry of many Wisconsin communities.
    With the sole object of creating more wealth in their communities, the
business
men of some of Wisconsin's many progressive cities have helped the farmers
to
build up their live stock industries by simple methods of furnishing "ready
cash."
THE "ASHLAND       Seeing the necessity of developing agriculture to
take the
PLAN" POPULAR place of a declining lumber industry, Ashland business
men
                    conceived of a plan which, because of its merit, has
been
adopted in many other sections.
    The Ashland Commercial Club made a survey of the country tributary to
Ashland, which showed the number of farmers who would buy cows if credit
could
be arranged. Each farmer was asked to sign an application showing the number
of cows he then had, the number he wanted to buy, the breed preferred, whether
pure bred or grade animals were desired, and the number of acres cleared.
He
agreed to raise all heifer calves, to accept the cows purchased, and to pay
actual
cost at Ashland, paying within three years for the cows bought from his monthly
cream check and at the rate of not less than $3.00 a month a cow. Payment
was
secured by chattel mortgage on the cows and their progeny, and if necessary,
other personal property.
                    HOW THE MONEY WAS FURNISHED.
     Two banks agreed to furnish the money to buy cattle, with interest at
six
 per cent, If the business men would guarantee them against loss; in other
words,
 if the business men would lend their credit to the farmers. This was done.
The
 bankers then appointed a committee to pass upon the applications. A competent
 committee was selected to buy the cows.


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