The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-27
SCORES SIGNAL victory
HICKEY'S BILL REGULATING RATE
OF INTEREST ON CONTRACTS
PASSES HOUSE
WARM DEBATE OVER MEASURE
Author of the Bill States That Mon
eyed Parties in minneapolis
Had Asked Him TO
Pull Off.

Representative James r. Hickey, of
Ramsey, scored a signal victory in the
house yesterday by securing the passage
of his bill regulating the rate of inter-
est on contracts arising from the sale
of school lands. The bill reduces the
interest from to per cent. The meas
ure passed by a vote of rs to So
When the bill was called up on the
calendar Messrs. Kelly, Deming and
others lined up against it, and for a con-
siderable time warm debate ensued.
Mr.. Jacobson, Mr.. Plowman and Mr. RI
ley identified themselves with the author
in defending the measure. The argument
of those opposed to the bill was that if
it passed it would be the means of de-
tracing from the state revenues the sum
of $4,000 annually or over 81 10000 during
the lifetime of the contracts. Mr. Dem
ing declared that it was stroke in the
interest of the spectators.
When Mr.. Hickey took the floor the
house was aroused to a high degree of
excitement, which grew into demonstra-
tive enthusiasm as he proceeded with his
arguments, which ere clear, incisive and
forcible. Mr.. Hickey challenged the
statement of his opponents, who had as
serted that the bill was to benefit spec
ulators, and proved, much to the pleas
ure of the house that nine-tenths of the
certificates of land sales are now held
by farmers. This statement he based
upon evidence procured from the state
auditors office, which could not be dis
puted.
This BILL said Mr.. Hickey, proposes
to redUce the interest which the residents
of this state have to pay on these con-
tracts from to 4 per cent Now, when
the state loans this interest money out
to residents of other states as is done
but per cent can be collected Does any
hnN toll l. -
per cent is not a loss to the people of
Minnesota, who are the original purchas-
ers. In many cases the state loans the
money out to corporations so YOU have
an example of the resident of Minnesota
paying interest at the rate of per cent
and the foreign corporations only paying
from z to per cent. I say that by all
means our people should have the benefit
of this thing"
Mr.. Hickey read reports from State
Auditor Dunn, in which he advocated a
bll such as was under discussion Mr.
hickey said that it was the money class
es who were against this measure. They
and the scalpers are trying their utmost
TO defeat the measure, but they will not
succeed. lie successfully met the argu-
ment that the bill would Lessen the states
revenues $6S,000 Those voting against the
bill were:
Allen, Alley. Armstrong, G. w; Arm
strong, j. A. Barlow Burns, Bury.
BUSH, Cooke Deming. Dobbin. Harden
linton, Hymes. Jackson Johnson. Kel-
": Lane. Laybourn, Mallory. Martin.
Nil Miller r Morley Nelson, W; Nichols, No
ian, Norman, Nyquist, Peterson, ] A..
Push, Rich, Roberts, Schward. smith
stevenson Sweet Won Valid. Wallace
and Whitford
1t was significant that the Hennepin
delegation voted solidly. almost, against
the bill. Mr.. Hickey stated after the SEES
sion that he had overtures from moneve6
parties from the Mill City to "pull off. ;,
put he turned a deaf ear to their en-
treaties. On taking his seat Mr.. Hickey
was greeted with loud applause which
mas been very unusual occurrence this
session. '---'
AS predicted in the Globe Tuesday
the H1llmond primary election bill was
supplanted in the house by a similar meas
Qre from Republican member. Mr.
Dunn, of the Ramsey delegation intro
duced bill of the same character yes
terday, which was offered as a substi-
tute to the one introduced bv the demo
cratic member. Thus the primary eIee-
ton law, when enacted, viii have been
introduced by Republican. The Demo
cratic members We're really not surnrisod
at being denied the opportunity oflfather.
ing this law