The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1914-01-23
CREDIT unions AND farm
LAND BANKS ARE FAVORED BY BOARD
recommendations Contained in Report of Government
Commission, That Studied Systems in Operation in
Europe and Adapted Best Features.

BulilcN OF Ohio chairman of IL sub
committee on rural credits some
weeks ago and This subcommittee has
been studying the subject. The sen
ate committee on banking and cur
renry has not vet considered rl-
RAJ credits. The commissions report
has been placed in confidence, before
both committees
Legislation Thought Assured.
When the currency bill WAS in the
house it was generally understood that
those members who advocated pro-
vision for rural credits in the bill per-
mitied the bill to pass without this
provision on the assurance that the
question would be taken up Separate
y without delay. Similarly. in con-
ference, the guaranty of bank deposits
section was omitted from the bin u
Facilitate it, passage, ON apparent as
Slrlncr that !hiS matter would u"M,c
up as separate legislation promptly
following passage of the currency bill.
1t now appears that these promises;
are 10 no fulfilled.
III tn" roinmlssion's expectations
arc illiiilled,' SAYS Or. Coulter, WHO
drafted tine report, this legislation
VIII solve one of the nations greatest
economic problems. u;ilization of it's
~ - ''s ii''t ".li III wv
real means of reducing the much talk
ed of high cost Of liylng. II will start
i genuine haCk-tu-tnC-lald movement
by making The Agricultural Industry
attractive. 1t will transform the
great tenant-farlning population into
n proprictor-iarln!lg population II
attract 10 tho farms hundreds OF
thousands uf immigrants who now go
into the mines aud factories. by max
inS ii easy for them To acquire lands"
lie. Land Pay for Itself.
Figures are cited 20 show that the
high cost of living is due to the tact
illtt The population of the country in
creased in the last ten wears of rec
ord "4.S per cent, while the produce
ton of food stxifs increased only 10
yer cent. Food prices Increased SO
To so per cent. Ii is shown that most
of the Immigrants coming to this
country are Daiural farmers ana
would go to the land if the way We're
made easy. The plan of this lesisla-
ton is to make it possible for an
honest. earnest man to buy his oWn
farm with Il small cash payment and
let the land pay for itself out of It's
w production over a maximum pc
Rod of thirty-tivc years.
h commission recommends Two
s-tIltidl lIIleS oI ltSlSIdtlt'il. nTSt, ~
provide for land mortgages or long
time credit: second. Ia provide per-
sonal, or short time. credit to the
agricultural population. 1t is de
signed To meet the need of more than
half the nations people, 49.34S,Ss3
Of the total 91,973.266 population he
ing rural, and to meet the needs also
of many more millions whom it on
poets to add to this agricultural pop
ulation.
Farm Land Banks Advocated.
The first recommendation is om-
bodied in the national farm land
bank act which the commission pro-
poses for legislation. This provides
for the creation of farm land banks in
the various states To supplement the
provisions OF the recently enacted
currency law. these banks to have
esdsral- he either by
private capitalists OF on the %non-proft
instruments.
These farm mortgages may run 2
maximum of thirty-fivc years and may