The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-02-28

the notice, in favor of the president
and secretary Of the board, and the
state treasurer shall pay such warrant
out of the funds designated. The an
nual interest on all farm loans herein
provided for shall be per cent: pro-
vided, that the expense of investigation
OF titles and values shall be paid by
the intending borrower. The board
shall be the legal custodian CT all notes,
mortgages and other evidences of in
oebtedness arising from investments of
state funds made by il, and shall COL
iect all interest due the state on all
investments Interest so collected
shall be paid into the state treasury,
to the credit of the fund to which it
belongs, on the last business day Of
each month. Whenever the state
board of examiners shall so direct, the
interest derived from the investment
CT funds belonging to the respective
state institutions shall from time to
time, upon proper requisition therefor,
be used for the maintenance of said
institutions; and whenever the board
snail order the use of said fund or
any portion thereof, it shall notify the
state auditor OF such order, and the
state auditor snail draw a warrant for
the amount stated in the notice, in IA
vcr of the institution which is entitled
thereto; and the. state treasurer shall
pay such warrant out of the funds
designated.
TIE rate per cent first reported was
Z per cent. Mr.. Chambers amended by
making it 6 per cent. Mr.. Hamer moved
the rate be 10 per cent.
Mr.. Snow called attention to the con-
ditions governing such loans. All i'm
provements must be deducted and then
two-thirds of the assessed value of the
remainder deducted. If this law as
amended were permitted to obtain. the
state would become the biggest Shyl0clS
in the country. 1t was proposed 10 put
the burden on the farmer and charge
him more than private bank would DO
under the same, or even better condi-
tions
Mr.. Evans opposed the 10 per cent
amendment. 1t was outrageous. Why,
the state floats its bonds for per
cent. and il might Just as we'll borrow
monev at I ana lean it at 10.
Mr.. Hamer withdrew his 10 per cent
and offered one fixing it at s per cent.
Mr.. Evans, continuing, said if the
rate was to be cut down by the state
the exorbitant rates prevailing here
would be reduced in the interest of
the farmers.
President Nebeker said the senate
should consider whether farmers should
be permitted to borrow or not. The
law provides that the board nav in
vest in bonds at low rate, and should
the farmer be permitted TO borrow on
the same terms? The amount of red
tape in making a farm loan is consid-
cradle. and the ordinary rate is S per
cent. But cut it lower and the farmers
may be barred.
Both amendments were lost and Che
bill then passed.
A CUBAN RESOLUTION.
Mr.. Rideout introduced "a memorial
to congress respecting the condition
existing in Cuba, and praying that !
honorable body TO intervene to protect /
the American citizens, and to take i'm
mediate steps 70 stop the carnival Of
blood now being enacted on that is
land
Whereas. Cuba has declared her in /
dependence from Spain, and resorted I
10 w2r to maintain such declaration; /
and
Whereas. Spain is attempting to
perpetuate its dominion over the island, !
and to accomplish such end is carrying
on the most cruel and bloody war
known to modern time, neither respect I
ing the property, the liberty, nor the B
lives of our citizens, nor the flag of our
and
Whereas, The people of these Unit /
ed States pause in their praises TO God (
for liberty bestowed, and shudder TO .
hear the unheeded cries for help waited I
to our shores on every breeze, and /
sicken at the picture of rapine and /
murder enacted under the guise of /
war in Cuba; and
Whereas, The United States has the /
right and power TO protect its citizens {
in the pursuit of life. liberty and prop
arty in all the world. and the further
right to protect the weak against the
unjust aggressions of the strong on
this continent: therefore. be ii
Resolved. By the governor and leg
stature of the state of Utah, that the
congress of the United States is hereby
to exercise all the force
necessary, even to a declaration of
war. TO protect the lives and interests
IF American citizens in Cuba and to