. Yearbook of agriculture . arer To per cent. Some loans are made foronly 50 per cent of the market value. In order to be eligible for rediscount at Federal reservebanks cattle paper must have a maturity not to exceed sixmonths and must be presented by a member bank. The pro-ceeds of these notes must also have been used for agricul-tural purposes. Cattle-loan companies, however, usually de-sire to find a buj^er for their notes and mortgages. If theyare for small amounts they are usually sold as such directto investors. Companies who make large loans, however, findit easier to dispose of these
. Yearbook of agriculture . arer To per cent. Some loans are made foronly 50 per cent of the market value. In order to be eligible for rediscount at Federal reservebanks cattle paper must have a maturity not to exceed sixmonths and must be presented by a member bank. The pro-ceeds of these notes must also have been used for agricul-tural purposes. Cattle-loan companies, however, usually de-sire to find a buj^er for their notes and mortgages. If theyare for small amounts they are usually sold as such directto investors. Companies who make large loans, however, findit easier to dispose of these notes by retaining them as se-curity for notes or bonds issued by the company in populardenominations. The activities of the Stock Growers Finance Corporationand the War Finance Corporation during the summer andfall of 1921 and the winter of 1922 have helped to establisheasier and longer credit for cattlemen. Their needs couldbe met much more adec{uately by slight amendments to theFederal Eeserve and Federal Farm Loan Our Beef SufjAy. 277 Marketing Beef Cattle. The market is tlie goal of the producer. The cattlemantherefore is greatly concerned in knowing what the consumerwants in the way of beef or veal, when it is wanted, where itmust be delivered, and what price it will probably command. Cattle marketing has undergone many important changessince the country was first founded. In the early colonialdays the family circle comprised both producer and con-sumer, and consequently there were neither marketing normarketing problems. Specialization in production soon re-sulted in surpluses which had to be disposed of outside thefamily circle. Then marketing began with all its attendingdifficulties and problems. Boston was probably the first centralized live-stock marketin the country, records indicating that as early as 1638 cattlewere driven from Xew Hampshire to Boston to be marketed. The Dutch, at Xew Amsterdam, which is now Xew YorkCity, the Quakers at Philadelphia, and th
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Keywords: ., bookcentury1800, bookdecade1890, booksubjectagriculture, bookyear
