The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-09-29

have followed the ADVICE OF ADIe ana
disinterested lawyers. The bill was
passed by the General Assembly COM
posed largely Of lawyers. 1t was not
passed hurriedly, but after due delib-
Grafton. 1t was not passed as a party
measure. Forty.fiye of the SIS Repub-
lican members OF the legislature voted
for the bill. six being absent. In de-
nouncing the bill Judge Lamm ques-
lions the intelligence Of majority
of the Republican members OF the last
legislature. II you think the princi-
pies therein contained are sound, beg
OF you not to be dissuaded from voting
for the amendment because Of the
fault finding Of Judge Lamm, the can
didate.
Single Tax.
Now, as to his statement relative to
the single tax" nothing could be
more far-fetched nor greater fallacy.
Single tax means that all tax Is to be
levied against the land
The farmer gets the loan from
the Institution at the exact rate at
which the bonds are sold. Any tax
Imposed on these bonds would neces-
sarily be added to the annual rate of
interest, wherefore, In exempting the
bonds from taxation, you are taking
that much tax off the land.
The federal land bank system, which
my opponent commends SO highly,
goes even farther In that respect than
does our plan by reason of the fact
that 1t not only exempts the bonds
from state and county taxes, but ex-
empts them from the income tax.
also call attention to the fact that
when my distinguished opponent was
on the supreme bench he concurred
in an opinion which exempted from
, taxation the stocks Of all foreign cor
porations held in Missouri, Of which
1t is estimated there are more than
one billion dollars worth. No one has
ever suggested that this was single
tax. No one has ever suggested that
exemption from taxation of billions of
dollars of United States bonds was
single tax. But when it is proposed
to cheaper money for the farmer by
exempting the bonds on which his
loans are secured from taxation the
Republican party advances the hack
neyed argument that 1t is single tax.
This is in keeping with all of Judge
Lamm's criticism Of the State Land
Bank system. | do not believe the
Missouri farmer will be misled by this
sophistry.
MY opponents construction Of the
economic plan on which the rural
credit system is founded is entirely
faulty. For instance, he says that
one-half of / per cent on the mil
lion dollars loaned would produce
only 5000 per year. He Is in error
here to the exact amount of
100 per cent. The bill plainly and
specifically states that this sum is to
be paid over the whole period OF 20
years. He says further that no pro-
vision is made for accumulation of
surplus. He entirely overlooks the
| fact that the capital stock furnished
the institution of the state does not
pay dividends. Hence the interest &C
cruing from the use OF this capital
would produce very large surplus,
Now the public is entitled to know
Just where my distinguished opponent
and the Republican party OF this state
stand on rural credits. To sum up he
says my plan is unnecessary from any
viewpoint because OF the federal sys-
tenn. His party's national platform in
Chicago condemns the federal system.
Mr.. Hughes on the 21st at Milwaukee
says the whole Democratic accom-
plishment must be wiped off the book,
which would include the federal farm
loan bill. Judge Lamm says in his
Springfield speech, I'VE stand for
rural credits by an efficient and just
law Now, believe it is his duty to
tell the people frankly why he COM
mends a bill which his national party
condemns, and which will be repealed
il Judge Hughes Is elected, and
what sort of law he would call
equitable and just. And In the event
of his election as Governor, what
he would do to carry out the peoples
mandate to establish State Land
Bank. Judge Lamm's remarks with
reference to state rural credits are
hypercritical and clearly intended to
confuse the people. He first says that
he was opposed to any state rural
credit system because unnecessary.
He afterwards modifies this in his
Springfield speech, but does not state
how or when he would inaugurate a
rural credit system in Missouri The
ndtlOudt pldlLOIlu ulSpuSC5 VI Iho VI a
credit system with 20 words The
Missouri state Republican platform
disposes of 1t with 2S words, and yet
Judge Lamm has devoted practically
all of his speeches to this subject.
Roads.
Our present Democratic administra'
ton In Missouri has aroused keen
interest in road development in this
! state. Not only men, horses and auto
mobiles follow good roads, but civili-
cation and religion as well. They are
the servants Of the farmer and the
city man. This agitation has been
going on in Missouri for great many
years. The time has come for earnest
active, united effort along this line.
Schools.
The public school system OF Amer
lea is the foundation of our democ
racy. 1t must ever be the apple OF
: our eye. Perhaps l speak with par
ticular fervor on this question, as my
only education was received in coun
try public school, principally of the
one-room type. My view of the school
is that the time has arrived when oul
rural boy and girl must be given as
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