From Where We
THE FUTURE FARMER OF AMERICA
He believes first of all that he lives in the greatest country in the world,
and he willingly accepts his share of responsibility for keeping it great.
He believes in working for what he gets and he feels that he is entitled
to receive a just reward for what he produces
He detests begging and wants no handouts nor gratuities,
He is self reliant, but at the same time cooperative and willing to help
others.
He is not afraid because he depends upon himself and he has faith in his
initiative and ambition. Fear seldom finds a foothold in an
active free thinking mind.
He respects the rights of others and he expects others to respect
his rights. If his rights are threatened, he is not afraid to fight,
He has honest pride in his Chapter, pride in his accomplishments and
pride in the success he has won Above all he is proud to be an
American.
Shop For Credit: The Money
You Save Will Be Your Own!
“A farmer can no longer stay in
business on the basis of 'hard work,
willingness and honesty. He must have
ability in financial management as well
as farming.” Those words were written
, probably prior to 1957 in University
of Rhode Island Extension Service
Bulletin No. 175. Automation as we
know it today was an infant at that
time; therefore, considering the costs
of mechanical farm hands and the larger
sums farmers deal with today, that ad
vice becomes even more meaningful.
Capital in modern farming is more
and more frequently being substituted
for labor with the aim of increased effi
ciency. There are four ways a farmer
can get capital to invest in his busi
ness: (1) by gift or inheritance; (2) save
from earnings; (3) marry it; or, (4) bor
row it. We’re talking here only about
the latter method.
Regardless, of the source of credit
local hanks, Production Credit Assn.,
credit unions, life insurance companies,
FHA or suppliers the borrower
should be aware of the cost of that
credit, and he should shop for money
just as he would for merchandise.
In discussing shopping for credit
we’re omitting, but not ignoring, the
important decision that should precede
that step determining whether, and
by how much, the added capital will
increase your net income The experts
caution, “added debt is usually sound
only if the loan will enable you to make
more money with it than you could
without it ” That can be determined, or
at least estimated, by budgeting your
added costs and anticipated returns over
the years during which the added capi
tal investment will be used.
Interest rates are expressed in
many, and often confusing, ways. There
is simple interest, interest paid in ad
vance; interest calculated on the month
ly, or annual, unpaid balance; interest
stated as a discount rate with the prin
cipal to be paid at the end of the loan
period; and a method that is becoming
increasingly popular with lenders, the
add-on, installment typ.e
Space here is too limited for a
detailed discussion of these many meth
ods of interest calculation, but the bulle
tin mentioned above, or an updated
version, can be obtained from the Univ.
Lancaster Farming
Lancaster County’s Own Farm
Weekly
P. O. Box 266 - Lititz, Pa.
Offices:
22 B Mam St.
Lititz, Pa,
Phone - Lancaster
394-3047 or
Lititz 626-219 1
Don Timmons, Editor
Robert G. Campbell, Adver
tising Director
Stand;..
AS I KNOW HIM . . . .
Raymond C. Firestone
President
THE FIRESTONE TIRE & RUBBER COMPANY
of R. I. at Kingston, R I. Literature on
this subject may also be available
through the county agent’s office.
Cost of credit exists in two forms:
as a dollar cost, and as' a percentage
cost. For example, you may be borrow
ing a small amount of money at a rela
tively high rate of interest, but your
cost may be low in terms of dollars be
cause of the small sum borrowed. In a
recent issue of Keynotes, a publication
of the Pennsylvania Credit Union Assn, i
an example was given of an installment
loan. It was suggested that dollar cost
of credit could be determined in a few
simple steps: (1) add all the costs in
volved down payment and total
monthly payments; (2) subtract the
price of what you are buying; (3) the
difference will be your dollar cost of
credit. Example: a refrigerator costs
$3OO and can be paid for by making a
$l2 down payment and 18 monthly pay
ments of $17.92 each. If you add the $l2
down payment to the total monthly pay
ments (18 X $17.92) you get a total cost
of $334.56. Then, subtracting the cash
cost of the refrigerator ($300), you have
a dollar cost of credit of $34 56.
To figure the percentage credit cost
we pass on a formula learned in a farm
management class once upon a time
Actual Annual Rate Of Interest
equals
‘ Tot. Cost X # Payments
of credit in 1 year
Vi amount
Tot. #
X Payments
Plus 1
i Total cost of credit is the difference
between the face value of the note and
the amount of money actually received
for your use)
received
Using the refrigerator example
above, we can substitute in the formula
and find the true annual rate of in
terest:
$34.56 (tot. cost X 12 (# payments
credit) in 1 year)
$l5O {Vz cash 19 (tot # pay
value of refrig.) X merits, plus 1)
equals
414.72 equals 14.6 percent true annua]
rate of interest.
2850
This handy formula can be used
with practically any method of charging
interest, and may be helpful in deter
mining your true costs when shopping
for money.
What Do YOU Think?
The Reader Speaks . . .
Lancaster Farming
Gentlemen:
I have moved to Lubbock,
Texas, with the DeKalb Agri
eultmal Association. Inc. and
Established November 4,
1955. Published every Satur
day by Lancaster-Farmmg. Lit
t Pa
Second Class Postage paid
at Lititz, Pa and at additional
isfesassssa
therefore request that you
stop my subscription to the
Lancaster Farming. I enjoyed
receiving your paper during
my two years in living at
York, Pa Your paper does a
wonderful iob in seivmg the
farm people of the Garden
Spot
Lubbock, Texas, is in the
heart of the niigated cotton
and sorghum area of the High
(Continued on Page 5)
What Christ Means
Lesson for February 21, 1965
' meets the modem eye. Messiah
B«ckcround Scrlptnn: Matthew 18. 4 S ■ word Without meaning t®
Devotional Jteadinc: Philippian* 2:1-11, 18 * " ora “
most men on the street. Christ
TTNDER THE spreading shade has come to be a proper name.
trees of a little mountain Most persons do not realize that
resort called Caesarea Philippi, a when Peter said. You are the
conversation occurred which has Christ (or You tire the Messiah
had echoes and raised questions they mean the same) he was as
for a good nineteen centuries, good as saying: You are not in
The two men in the conversation any. class of mankind. There is
ere Jesus of no one, absolutely no one, in the
izareth and his same class as yourself. There
;out friend have been other healers, other
imon Peter, Ac- teachers, other preachers; but no
tally Peter was other Messiah, Once in history,
nickname, and once an( * never again, once ami
was during this never before; once the Messiah
mversation that “? es - * bere b . e , n °
-us ff ave hi? This 18 the center of huiflan his*
riend the name ***• s ° the Ci ?f
J)r.Foreman Peter. He hadfff bas Slste L“ l i'f° T i c .,=
been born Bar-Jonas,the same as labe ?> ciassify orpigeonhole Jesus
our Johnson; Jesus gave him a He m a prophet, yet Cm he «ud)
nyne which like all nicknames ™r e th an a prophet He was and
gives an impression of the person, f a , way L S
what he is like. What did Jesus that we can say about him ‘
say to Peter? What did Peter say At least this!
to Jesus? And more important, But can’t we say more than
what did Jesus and Peter mean this? Must we call Jesus only a
hy what they said to each other? p i us .x, a mysterious additive to
Protestants think one way about or( ji nar y humanity? Mystery he
these questions, Boman Catholics m ay he; but there are some things
another. Still, we are agreed on we can say “Messiah” means even
one point. We see eye to eye though his full meaning eludes
about what Peter said and meant. us . At least this: He speaks with
The question the authority of God; he is the
So let us stick to Simon Peter’s
answer to, the question which
Tcoiio aclrpfl Tp<sii<! an-nrnvori as *® a ®» God in man, he IS WnaC
S. a ™' wants us to know ot him-
Peter s a fJ® w > ?deed assured Alongside, this, there shines
the probably astonished manthat “ 4’
his answer was the rieht one another meaning in the’ Simple
title “Christ.” The name; in the*
S Testament always. had the
mtoSTS he was nleased to SQUnd - of Victory; God’s, victory
surprised an ne- was. pleased to would at last he' won. by- tha
think that for once he was right Eu rw;♦« twc *—
the first time. Jesus started by Christians to this.da3y)er*
1,. heve that the great war between*
asking who people thought he G d and evil wild not.be a draw;
was. Jesus, knew he would strike ch ■ t “ m v it e . jt* str ueele
people, ttwghM people, as hav-g^g
mg more depths in his nature- O o G . .
than could be seen with the naked: 0
eye. The simply answer: “People -(Based, on- outlines. <-oPTririited.by the
Vnnw mmr name ic T«nc and tlivision of Christian Education; N«tional
Know your name is Jesus ana council or the Chucche* ot chmt intho
that you came from Nazareth; v, s. a. xcieasca by Community rxesa
why shouldyou ask?” Jesus didn’t s “ vlce-)
mean that; He meant: Whom do,
I remind people of? Who is, so to
speak, my spiritual twin brother?
Jesus was not content with ask-
Now Is The Time . . .
To Plan For Forage Supply
Many livestock producers have increased
the number of cows or steers earned in their
farm operation In many cases the farm is
not large enough to produce all of the gram
and loughage needed However, it is impor
tant to produce the amount of hay and silage
that is needed. Many successful dairymen are
concentrating on producing a maximum
amount of top quality hay and silage on the
farm, even though larger amounts of grain
and protein may be purchased. l
To Maintain Proper Soil Acidity
On most of our county soils some lime
may be needed every 4 to 6 years; this will
vary according to soils, fertilizer applications, MAX SMITH
and crops removed For most farm crops a pH of 6.4 to 6 8 is
desired For legumes a neutral'soil (pH of. 7.0) is desired. This
is the reason that soils should be tested every rotation in order
to keep the pH at the proper level More value from commer
cial fertilizers will be realized with proper soil acidity.
To Eliminate Rodents 1 stations as soon as- possible.
Some farmers may think To Prepare Farm M*chi»ery
that it costs too much to buy The good farm, manager no
rat poisons to kill rats and doubt has already gone over
mice. We maintain that it most of his farm. ma,dtinery
costs too much to put up with and has it in good shape for
them. Spring weather will soon the 1965 season. However, if
be here and these rodents will this has been negteatotk we
migrate to the fields and re- urge farmers to, give thasfflorae
produce during the sutnmer; attention before the day, that
next fall we will have a heavi- you want to use it. The,, farm
er population of them. We machinery service man will
urge every land owner to also be able to do a better
make a special effort to elim- job if you give him ample
mate every rat and mouse time on- the work. Rust con
now and prevent greater loss- tinues to be the No. 1 enemy
es from them. They are dan- o£ farm machinery a nd
gerous to have around and ... ,
should be exterminated. Elim- therefore, a coat of paint will
inate breeding .places and hel P stretch the life of this
place a number of poison bait big investment.
jd, of, mcooi m or
imiah or. even. John the Bap«
. (who alio wu dead). Jeius
ide no remark about' the' peo*
ie’e opiniona. He brought the
question down to ground level:
Who do YOU aay I am? That’*
what counts. Jesua did not. want
to be a question-mark only.
Can Jesus be classified?
Peter’s answer said more than