Secretary of the Federal Land Bank of Baltimore, C. R. Titlow wrote Farm Loan Board member Herbert Quick on June 13, 1919 about an enclosed article in the State College Journal (Maryland) in which agricultural extension agent, Franklin B. Bomberger, wrote on the growth of the Farm Loan System. He cited figures from the second annual report of the Farm Loan Board to Congress to describe the growth of the system nationwide, in district two, and in Maryland alone. Bomberger noted that: “… the farmer who is acquainted with the farm loan system is attracted to it by the amortization feature, which relieves him of the recurring danger and expense incident to renewal of the loan at three or five year periods, and enables him to pay off the principal of the loan in semi-annual installments of only one-half of one percent.” Bomberger also expressed his optimism that continued growth was assured since the any remaining reluctance by skeptical farmers would be absolved by the demonstration of the system’s success to date.
Institution: National Archives and Records Administration
Collection Name: RG 103, Entry 87-A
Box & Folder: b.15 f.4
Tags: 1910's, Farm Loan Associations, Farming, Federal Farm Loan Board, Finance, Land Banks, Middle Atlantic, Woodrow Wilson