Excerpt from The Farm Mortgage Handbook: A Book of Facts Regarding the Methods by Which the Farmers of the United States and Canada Are Financed; Especially Intended for Investors Seeking Information Regarding Investments in Farm Mortgages
Mr. Robins has done a very useful piece of work in describing the best practices of those institutions which are already functioning in the field of rural credit. To serve as a channel through which the surplus capital of those who have it may get into the hands of those who need it is the function of every credit institution. Mr. Robins shows how a number of institutions are serving to transmit surplus capital to the farmers who need it. They are rural credit institutions in the most fundamental sense, even though they are run entirely as private agencies with very little government regulation or supervision.
Private capital will go where it is most needed provided credit conditions are equally good in all fields of investment. Where they are not equally good there are obstacles in the way of the free flow of capital, and capital will not distribute itself in proportion to needs.
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