The daily star-mirror. (Moscow, Idaho) 1911-1939, 1915-01-08
WOULD RESTRICT
LOANING OF FUNDS
CANCEL ALL PRESENT APPLICA.
TIONS AND MAKE NEW
START
Would Also Prohibit All State and
County Employees Making
Loans
(The Governors Message Continued
From Yesterdays Star -Mirror)

~ StecC VI iddllO Is lOTluIdlG III
having trust fund, better known a,
The lrreducible school fund" Thi.
fund is derived from the sale Of lands
donated to the state by the nationa
government at the taking on of state
hood. Much of this land has been SOLD
and the money derived from the sale
Als trust fund for school purposes
The interest from this trust fund is
used for the education of our children
as the law prescribes. If there is any
thing in the state government that
ought to be sacred, it is this trust fund.
TO watch it well and throw around il
every safeguard is not alone our duty
under the law, but it is a privilege in
which all citizens should Join. 1t is
the very basis of the educational part
OF our state. No one should be al
lowed to get dollar of this money
unless he absolutely insures. beyond
all doubt, its safe return. The loaning
of this money is entrusted to the land
board under certain regulations pre-
scribed by law and rules made by
themselves. 1t has not worked very
satisfactorily in the minds of the peo-
pie Good business foresight and pru-
dence have not always been exercised
to the full extent The necessary and
customary caution and investigation
that a private loaning company would
make have not been strictly followed
in the loaning Of this sacred fund
I would recommend to your honor
able body that this trust fund should
be loaned only upon certain rules and
regulations to be made by the legis-
ature of the state. The more restric-
i've the rules are the better they will
answer the purpose.
I would suggest that all applications
or loans now existing be Cancelled and
/ new start be made with about the
restrictions:
First. No loan to be made to any {
ne person of more than 100000, and
lot to exceed one-third of the ap-
raised value of the land.
Second. No loan to be made except :
, bona fide settler, living upon the :
and whose residence has been bona ,
de for at least two years prior to his :
pplication for loan.
Third That at ast,-twenty-five per
snt of the land upon which the loan =
made shall be in cultivation =
Forth. That there shall be an alb .
)lute water right with the land, and "
lat the water right shall be of the y
'avity system only. .
Fifth When there is no water right D
ith the land and it is so-called dry .
rming land, at least fifty per cent -
the land should be in cultivation ~
Sixth. That every application for -
an, before it shall be granted, must
advertised for at least twenty days
newspaper published at the near -
point to the land upon which the
IN is to be made
Seventh. The appraisement of the in,
Id shall be made by competent en-
pialser. Inc appralsement OF the tes
ue of the land shall be published in
same newspaper where the applica- ~.
n for the loan is advertised; stat
the amount of money desired to be
'rowed the appraisement made by -.
appraiser, and also the amount of
inc
de by the county assessor the two
rs preceding.
tha
'ighth. All applications for loans tho
uld be entered upon a book kept i'm,
said purpose, stating the time the :,
lication for said loan is received
49, e, pril
il only be made in rotation as they
entered in said book of applica-
S for loans.
fer1
inth The smallest amount of mon of 7
asked for and the largest amount mo,
~ - io'oi 'Aoi eioi lang
| have the preference, if any pref inni
ce is to be made. ou
snth. That the interest on these higf
S should not exceed 5 per cent per IdaI
I'M. While this is less interest to t
heretofore charged, in the long educ
it will be just as beneficial The
est would be collected more
lptly on account of the security w
3 higher. ulty
aventh. No person in the employ on /
Continued on Page 81 Wee