Excerpt from Massachusetts Agricultural Experiment Station, Vol. 255: Agricultural Finance in Massachusetts
Another debt or credit condition receiving wide attention is high interest rate. This may take the form of higher prices for goods to be paid for in the future or actual high interest payments charged by finance companies. When a number of such cases are known, they soon appear as the general rule.
A third condition of farming is the Small amount of money earned by many farmers. One reason given for this is the high cost of money borrowed by farm ers. Low income is not often, however, interpreted as the reason why large debts occur on many farms. More often the credit institutions are thought to be working incorrectly.
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