The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1914-03-12
THE CURRENCY.
LAW HELPFUL

The new currency law is proving 10
he great blessing 90 tire farmers OF
the country generally, and the great
est blessing will come To the far
West, Lands are given Federal re-
cognition by this enactment for the
hrst time la the currency system OF
tile country.
| The III crimination uf the old sys-
/ tenn made land securities the Victim
Of the caprice OF bankers from Wall
street TO the local institution that
was a Wall stfeet agency, II has
been fact to he used with great dis
a'ser that land securities we're read
| ily liuuidated, whatever that Il vs.
terious term may mean.
The result has been the general
sacrifice of farm values at every prob
able approach OF hard limes. Hard
times have neen measured by the
farm interests of the country, be
cause iAr.p values we're not recogniz-
ed 0y the organized bankers
Under the new currency law, ana
are particularly under the assured
farm loan laws which are assured for
The near future farm securities arr
to be made the most certain ana
stabie of all Investments. They ART
20 be backed by the government
Just as positively as the government
bonds.
tn reformation OF the National
system nf tiuances will have the most
positive effect In the far west. Our
land values have been much more
unstable than those Of the older com
munities where local capital was
available for the farmers. The farm
mortgages OF the West were kicked
about like the stock la at wildcat
mining scheme when financial strin-
2eucies were launched periodically bJ
the money trust. Land values were
the most variable OF all assets to he
deprecated to produce the desired
advance OF interest rates.
Under the new law land values can
not he reduced on the demand Of any
capital trust. Even the lands OF
Lemhi County, as soon as the new
system Of finances is lnaugera tsd
will have value that will be recog-
nized by the Government, aud they
viii be just rs Interchangeable as the
value Of government bonds
The real land values OF the West
will be advanced nifty per cent. bY
the currency laws which are TO be
IN force within the next few months
There will he government money
for every laudable form demand
based upon a positive value that will
br hxed for all time, aud a value
not to be driven up oi do~n at tue
behest OF any banking ageley Every
land owner will hvae credit 10 hack
him In his business JUS as the boni
nOider Of the past has mad In the
money centers. The present new
system brings every piece Of farm
land TO the bank with positie value
Just as well liked as a government
bond value is now fixed ON Wall
Street.
There can never be money strin-
gsncy TO deprive the land owner Of
ASilable funds for n hank loaD This
condition is met by the reserve bank
of the district. There Is to he no
limit to the money for this purpose.
In fact the farmer has been elevated
to the position OF a preferred credit
or, ana mis- just demands are rscos
niLed as being so important that a
provision has been made fof new
currency issue To meet the farm de.
mands whenever an emergency exists
This provision makes land values
the most positive and permanent bus
iness asset In the whole system Of
finances IL cannot nov be said
there is no money for the farmer.
IL is Just n question OF THE value Of
his land and there will be no ~ay
VI depreciaing this value by npAn-
.cial juggling. All farm values will
oe liked by farm production and
the possibilities Of production.
This financial recognition of the
value of land will promote scientific
farming. Whenever il is demoastra.
tel that farm will produce crops of
value the farmer will have this pos
ltlye asset 10 back up bis business.
The farmer who cannot give nts land
a positive value based on reterns &iil
necessarily he compelled to retire
aud give place 10 be tier farmer " no
caa establish value to the land
The value OF the average Lemhi Val.
lev farm land will 20 at once TO at
least slOO % an acre Ahen thl,
mutuaI system IL properly installed
NEWTON HIBBs.