The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1914-06-04
PROTECTING MoNoPoLIsTs; DE.
SERTiNG THE PRODUCER.

his democratic congress which goes far
thee than any republican paper has 81
far assayed to do. II shows the hypoc-
risy of the pretence to favor the farm
ers of the country and openly accusse;
the president and the democratic lead
ers in congress of legislating for the
prott ction of monopoly. Through the
courtesy of Senator Borah we are en-.
abled to reproduce the editorial, which
Is as follows:
Despite the wrath of few, the
Democratic party in Congress is going
ahead with its plan to violate it,
pledges to the farmers and adjourn
without any action whatsoever on the
subject of rural credits.
True such action was promised by
the party In its national platform.
The promise was soemnly reiterated by
the president and the congressional
heads when the banking currency bill
was passed without any provision for
farLuers' banks. IT the pledge had not
been made at that time that measure
could not have been enacted But
now. at the insistence of the president
the caucus determines that the house
shall adjourn without taking up the
subject.
Lei kagsdale rage. Let Buckley. of
OH, chairman of the committee that
has prepared the bill for rural credits,
protest in vain. Let embattled Okla
Romans filibuster and arouse the
wrath OF Oscar Underwood. The pres
ident has spoken. The need of farm
ers for a juster system for raising
money on their lands is to be ignored
4, mia
When the Glass Owens banking and
currency bill was before the senate
this paper pointed out that It was
fatally weak In not providing any re-
of interest they are compelled to pay
lief for farmers from the high rates
This effect Of this situation on the cost
Of living was thus described by Mr.
Hea,st:
In the United States than In Europe
Food has risen In cost much faster
first, because our population has In
creased nearly twenty times as fast as
the production OF our farms; and Sec
ond. because the little farmer of Ger
many and France borrows money from
loca! loan associations to improve his
farm and increase its production. while
our own national bank laws EXPRESS
such loans.
''Thus it happens that the Euro
pean farmer. borrowing money at less
than S per cent. can improve his farm
! AND. increase : his crops, while. the
American farmer. forced to deal with
loan agents of associations not nation
al banks. pays an average of sh per
cent for such loans Omitted States
fiRnraQl pU Mt n min
thus made possible. the German and
French farmer produce twice as mucn
per acre as the American farmer"
Twenty million people live on our
farms. but s0.0O0.000 more are fed by
thei.' products. According to the CEN
sus the farm land mortgages total
$1,000. 000.0 900, and the current loans
to farmers on account OF crops. ma
chintry. etc. as much more. Shut out
OF national banks by law. the farmer
wishing to borrow must have recourse
to other institutions which. by the de-
vices of commissions, recording fees
and compulsory insurance. swell his
interest rate TO 5 lie per cent THE
TOnA INTEREST CHARGE UPON
THE FARMS OF THE UNITED
STATES EXCEEDS $50, 900 900 A
YEAR-OR ABOUT THE VALUE OF
THU WHOLE ANNUAL WHEAT
CROP
BUT PRESIDENT WILSON HAS
oRLERED THAT CONGRESS- SHALL
DO NOTHING TO Tighten THIS
BURDEN. AND CONGRESS- MEEK
LY OBEYS
The stock gambler the high financier
some of whose ways are being exposed
by Solicitor Folk. the parasitical Wall
street operator who produces nothing.
can get money at half the rate exact
ed of the farmer who produces for
others and benefits all mankind. And
for fifty years this government by pre-
cisely the sort Of unfairness to the
farmer which President Wilson is show
ing today, has fostered this inequality
Other nations are not blind. There
fore our agriculture suffers In compari-
son and prices of our food products
rise to exorbitant heights. Last Sep
temher the American protesting
against the incompleteness of the Glass
OWN bin, said
Germany, great and rapidly grow
ing agricultural nation. has created
BY GOVERNMENT AID associations
of land credit cooperative societies
synftcating their farm lands under ne
gotiable bonds security for the cred
Ii they need This system has been In
general use for more than one hundred
years. II is not an experiment. The
German farmer thus obtains money for
less than per cent The rate this
year Is about "a per cent.
I'm France, another great agrieultur-
al nation, there is an institution called
the Credit Foncier. This institution
started with government support. BUT
DOES NOT NOW NEED GOVERN |
MENT HELP. Up to the present time
1t has loaned to farmers more than
two billion dollars, at rates varying but |
always less than per cent. The loans. |
moreover are made from ten to seven |
ty-five years and are retired In very |
small installments year by year.
Notice that both In France and Ger |
many the farm banks were started |
WITH GOVERNMENT HELP. though |
In the former country that aid is no
longer necessary.
Tine bill for rural credits, prepared