The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1911-06-23


Amount of Money Should be
Brought to Idaho and Loaned to
Farmers-AdvOcates Change. in
Policy of State in the Matter.
That school bonds aggregating
nearly $2,OOO,00O now carried by
the state, says the Capital News,
should be disposed of to eastern
bond dealers who will gladly pu
Ct ase them because of their attra
tiveness as an investment, and that
the state may have this amount for
farm loans to farmers who need the
money, is the declaration of State
Auditor S. D. Taylor. Mr.. Taylor
asserts that by such a course, this
additional amount of money will be
kept in the state and within circula-
ton and will accomplish the purpose
which he is most anxious that 1t
should accomplish, that of giving
an impetus to all business in the
state and materially Strengthening
the financial conditions of the state
in industrial as we'll as commercial
channels. Mr.. Taylor emphasizes the
fact that he has reached this con-
clusion after having made a careful
research. In speaking in reference
to the great assistance which 1t is
possible to render the people Of the
state in this manner, which he de-
clares that it is his purpose to effect
if within his power, Mr.. Taylor
said:
II am in favor of an immediate
change in the policy of handling the
money in the public funds of the
state. These funds are now mount
ing up close to the 100000 mark,
and each year shows large increase
o over the increase of the preceding
year. 1t has been the policy in the
= past to invest this money largely in
district school bonds, and in pursu-
= ance of that policy the state now
: has investments in bonds to the
amount of approximately 100000
l am in favor of disposing of these
bonds in eastern money markets and
in bringing this money back to Ida.
-. no to be loaned upon improved farms
70 to assist in the development of the
Il state. It will give Idaho $4,000
l. of additional capital for development
II and not in any manner injure the
q finances of our schools.
s Need of Capital.
p ''The great need in Idaho at thi
- time is capital for development, ant
100000 distributed over thi
:, state would accomplish wonders. TIL
state land board now has on file ap
plications for farm loans for nearl
halt a million dollars more than
:. can supply, and the amount woul
be larger were 1t not for the fac
that the report has gone out tina
demand was greater than the sur
ply. This money, loaned on In
y proved farms, which the law pei
W mits, would not only help the farm
>" ers, but would Immediately go int
o the channels OF trade and help tn
is banker, the merchant and the trades
~ man. It would mean the bringin
u. into Idaho 100000 Of. outside cal
~ ttal and would greatly benefit ever
citizen In the state.
- The selling of these bonds
eastern buyers would also mean
20 saving of vast sum of interest
"' citizens of this state. We get
VA per cent interest on school bond
40 while the average rate of intere
paid for eastern money for far
"s loans is per cent, difference of
=" per cent. If the state can sell
- per cent securities and secure mon
y 60 take the place of money tn
- costs 8 per cent, 1t strikes me that
- is good business proposition. Fo
per cent SuNSu III lulSASob Oh VSbNV'
9se 600 would amount to $4,000 q
INC nually, but this is little more tn
- beginning, because the state b
sold but small proportion of
land and timber holdings. At
" congressional valuation of $40 |
'A' acre, the state lands are worth 1
proximately $4,000, 900, and, VIII
- no one knows the actual value,
has been conservatiyely estimated
In 100000. AS these lands ;
to sold the money will go into the
Who dowment or permanent funds of
of state, and only the interest, or ca
ings, can be used for maintenan