Birthplace of Farm Credit

Birthplace of Farm Credit (HM11ED)

Location: Larned, KS 67550 Pawnee County
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Country: United States of America
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N 38° 9.849', W 99° 6.97'

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Inscription
This 280 acres was collateral for the nation's first Federal Land Bank loan made on April 10, 1917 to farmer-stockman A. L. Stockwell. In those days, farmers and ranchers found credit hard to come by. If available, it was often very expensive . . . as much as 10 percent per month.

Recognizing the importance of agriculture to our nation's economy, Congress passed the Federal Farm Loan Act which was signed into law by U.S. President Woodrow Wilson in 1916. The Federal Land Bank, which makes long-term real estate loans to farmers and ranchers, was the first of the three lending institutions which comprise today's cooperative Farm Credit System.

Wichita was granted the first of 12 Federal Land Bank charters nationwide and charged with developing lending programs in Kansas, Oklahoma, Colorado and New Mexico. In turn, it issued the first local association charter to the Pawnee County National Farm Loan Association of Larned.

Originally started with seed money appropriated by Congress, the Farm Credit System has long since repaid all government funds. Today, it is entirely owned by the farmers and ranchers it serves.

Details
HM NumberHM11ED
Series This marker is part of the Kansas: Kansas Historical Society series
Tags
Marker Number108
Placed ByKansas Historical Society & Kansas Department of Transportation
Marker ConditionNo reports yet
Date Added Saturday, October 11th, 2014 at 2:08pm PDT -07:00
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Locationbig map
UTM (WGS84 Datum)14S E 489823 N 4224034
Decimal Degrees38.16415000, -99.11616667
Degrees and Decimal MinutesN 38° 9.849', W 99° 6.97'
Degrees, Minutes and Seconds38° 9' 50.94" N, 99° 6' 58.20" W
Driving DirectionsGoogle Maps
Area Code(s)620
Closest Postal AddressAt or near 17 NE Trail St, Larned KS 67550, US
Alternative Maps Google Maps, MapQuest, Bing Maps, Yahoo Maps, MSR Maps, OpenCycleMap, MyTopo Maps, OpenStreetMap

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