In a recent talk with two or three of the bankers of Moore county it was disclosed that the banks are taking care of the farmers in a broader way than has ever been possible.
Mr. McLauchlin at the Bank of Vass says the farm loans are extended as far as the legitimate practices of banking will permit, and the farmers are availing themselves in a greater manner of the business opportunity to pay cash for their fertilizer and other things needed in the spring, and thus they get the benefits of lower prices than was possible under the old system of buying on time and paying time prices. The Bank of Vass is growing in its ability to finance the farmers and is helping to the extent that it can, and that is helping to put farmers on a broader footing, and each in turn helps the other.
John McQueen of Lakeview is president of the Bank of Pinehurst. Mr. McQueen says his bank is making small loans to the farmers in numbers, the aim of the loans being to stimulate a better business habit among the smaller farmers, and put them on a more solid financial footing and custom.
The Page Trust Company, which has three banks in the county, is also considering the farmer more than in the past, for all the banks have more money and can do more to provide credit for the farmer than was the case in the years that are gone.
This is one reason why the farms of Moore county are entering a better era as far as industry and prosperity are concerned. The banks are doing all they can to stabilize the business of farming, and the next thing is for the farmers to help as the banks are doing. Greater thrift on the part of the farmers is one thing needed, and another is for every farmer when he has a dollar that is not in use to put that dollar in the banks that the money may be available for loaning to some other farmer who needs it. That keeps idle money moving, and as it is always at the call of the depositor when he wants it back, it makes all the capital of the community all the time.
An awful lot is said about helping the farmer, but the naked truth is that the help for the farmer must come chiefly from his own efforts. While the banks are helping him what they can help only as the money of the community is put at their disposal to lend the farmers and others, and it is up to the farmers to do their share along with the banks.
From the editorial page of The Weekly Pilot, Vass, N.C., Friday, April 27, 1923
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