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RURAL CREDITS

HEARINGS

BEFORE THE

SUBCOMMITTEE OF THE
COMMITTEE ON BANKING AND CURRENCY

HOUSE OF REPRESENTATIVES

CHARGED WITH PLANS FOR THE DEVELOPMENT OF
RURAL CREDITS IN THE UNITED STATES

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LIST OF WITNESSES.

C. W. Thompson, investigator rural organization service, Department of Page. Agriculture

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Mrs. Haviland H. Lund, organizer of the Forward to the Land League___
Edwin F. Howell, of New York City, chairman of committee of the United
States League of Local Building & Loan Associations__

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K. V. Haymaker, Defiance, Ohio, member of the committe on farm credits of the United States League of Local Building & Loan Associations___. E. L. Keesler, of Charlotte, N. C., president of the North Carolina Building & Loan League___

Hon. R. W. Moss, Member of Congress from the State of Indiana and a member of the United States Commission to Investigate European Rural Credit Systems--

Hon. A. W. Lafferty, a Member of Congress from the State of Oregon___ T. C. Atkeson, Morgantown, W. Va., a member of the legislative committee of the National Grange_

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133

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S. H. Hobbs, of North Carolina, chairman of the legislative committee of the National Farmers' Union_

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J. C. Kennett, of North Carolina, a member of the legislative committee of the National Farmers' Union__.

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Hon. Willis J. Hulings, a Member of Congress from the State of Pennsylvania_

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Hon. Ellsworth R. Bathrick, a Member of Congress from the State of
Ohio

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Hon. Dudley Doolittle, a Member of Congress from the State of Kansas__

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RURAL CREDITS.

COMMITTEE ON BANKING AND CURRENCY,
SUBCOMMITTEE ON RURAL CREDITS,

HOUSE OF REPRESENTATIVES, Washington, D. C., December 3, 1913. The subcommittee met at 10.30 o'clock a. m., Hon. Robert J. Bulkley (chairman) presiding.

Present: Representatives Stone, Weaver, Ragsdale, Hayes, Platt, and Woods; also Hon. Ellsworth R. Bathrick, Representative in Congress from the State of Ohio, Dr. T. N. Carver, director, and Mr. C. W. Thompson, investigator, Rural Organization Service, Department of Agriculture.

Mr. BULKLEY. Before we proceed, I will say that the Department of Agriculture has been conducting an investigation of this subject, and Dr. Carver and Mr. Thompson have had it in charge for the department. They have come before us to give us such information as they have been able to gather. Mr. Thompson, I believe, is to make the first statement, and it might be well to let him conclude and then ask questions afterwards.

STATEMENT OF C. W. THOMPSON, INVESTIGATOR, RURAL
ORGANIZATION
DEPARTMENT OF AGRICUL-

SERVICE,

TURE.

OUTLINE OF STATEMENT ON RURAL CREDIT IN THE UNITED STATES. PRESENTED BY MR. C. W. THOMPSON.

Nature and scope of investigation.

(a) Topics studied.

(b) Sources of information.
(c) Method of inquiry.

INTRODUCTORY.

PART I.

REGARDING FARM-MORTGAGE LOANS.

I. Long-time interest rate.

1. Summary of averages by States and general average (maps submitted).
2. Summary by districts within States.

Variations shown between districts (maps submitted).
Variations shown within districts.

II. Causes of variation discussed under

1. Soil conditions.

2. Climatic conditions.

3. Methods of farming.

4. Distance to market and source of capital.

5. Financial agencies.

6. Legislation.

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