New Allotment of Seed Money

In the spring of 1933, many farmers were once again faced with the problem of not having money to purchase seed and raise their crops. The government established another program to help those farmers who couldn’t get credit elsewhere. Some of the regulations were the same as in previous years. The 1933 qualifications were for:

In the spring of 1933, many farmers were once again faced with the problem of not having money to purchase seed and raise their crops. The government established another program to help those farmers who couldn’t get credit elsewhere. Some of the regulations were the same as in previous years. The 1933 qualifications were for:

1. Those unable to obtain credit elsewhere.

2. Those having acreages fit for planting.

3. Those having equipment for farming.

4. Those whose major income was from farming.

5. Those who agree to plant a garden.

6. Those who agree to plant sufficiently for feed for livestock.

7. Those who agree to use seed and methods approved by the representatives of the Department of Agriculture county agent or advisor..

8. Those who agree to reduce the acreage of each cash crop 30% below the acreages planted in 1932, excepting sugar beets, provided that the foregoing shall not apply to borrowers who will not plant in 1933, more than eight acres of cotton, four acres to tobacco, 40 acres to wheat, 20 acres to corn, 15 acres to beans, eight acres to potatoes, two and one-half acres to truck crops.

9. Those who did not farm in 1932, provided they shall not plant an acreage in excess of those listed in #8 above, and in addition thereto, one acre of garden, three acres of hay.

The loans also had regulations:

1. Maximum loan, $300.

2. Minimum loan, $25.

3. Maximum aggregate loan to tenants of one landlord, $1,200.

4. Loans had to be made in multiples of $5.

5. Loans had to bear interest at 5 ˝ % per annum.

6. Loans were due October 31, 1933.

7. Loans had to be secured by first mortgage liens on all crops grown, planted and harvested by the borrower in 1933.

Researched by Wilbur Bush, Gallatin (2004)