The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1916-07-07
LAND BANK BILL WILL AID MISSOURI
FARMERS TO HELP FEED EUROPE
No Matter What U. S. Government Does in Extending
Rural Credits, Gardner Bill Is First MeaSure-The
More the Better - Agricultural Classes in This
State Alone Could Use Hundreds of Millions
of Dollars, at Low Interest Rates, in De-
%veloping Farm Resources.
BY OMAR D. GRAY.


When Col. Fred D. Gardner began
work on his land bank bill, nearly
four years ago, no one foresaw the
great European war at this time.
Though legislation for the relief Of
the farmer by enabling him to borrow
money at reasonable rates has been
needed all along, such a measure is
doubly needed at this time when
America must be the great storehouse
Of the world for years to come.
Missouri must do its share. Ours
is the first state in the Union to pro-
ject a land bank. The Gardner bill,
passed by the Forty-eighth General
Assembly of Missouri, is to be voted
on under the initiative and referen-
dunn in November, in order to settle
all questions of onstitutionality and
avoid court suits. The law is to be-
come effective the first Of December
of this year, and in all probability
ours will be the first land bank in OPP
Grafton in this country.
You will notice that our federal
government is preparing to establish
IL banks in various parts of the
United States 20 extend rural credits.
Good! We need all we can get. Sew
eral hundred million dollars could be
used to advantage right here In Mis-
souri,. Our farmers need a state land
bank and also would welcome the
chance to borrow from Uncle Sam.
Look at the Ozarks! It's the best
stock, poultry and fruit country in the
world and virtually is undeveloped!
Look at the thousands of acres OF
u%ncultivated lands in all parts Of our
state, and thousands Of other acres
where attempts are made to grow
crops but are poor from the lack Of
fertilizer and use Of good machinery.
An Example In Congress.
It was pleasing to read how Speaker
Clark got down from his rostrum a
few days ago and took the floor in be-
half of rural credits, using arguments
such as Col. Gardner and other Mis-
sourians have used for years. There's
no question about the need of land
banks, nor the soundness Of the plan,
when, as has been proven by expert
ence, European farmers have been
using twenty-five billion dollars at be.
tween 3 and 4 per cent interest, and
have increased their exports of food
supplies while ours decreased.
There's no question about the safe
ty of the Gardner measure. We car
lend money to farmers at 4.3 per cent
on long time, let them pay a little
each year on the principal anC
through the sale Of bonds put to worl
many millions of dollars. The bonds
will be the safest investment on earth
being secured by the land appraised
at half its cash value. The state, II
lending the bank a million dollars a
working capital, win be fully protect
ed. In time the reserve fund Of one
half Of l per cent. paid by the Dor
rowers, will refund the million to thu
state, and II will have cost the tax
payers nothing. Just think Of i'll
From a German Banker.
Returning to the subject of Europe
Herr Gewinner, president Of tn,
Deutsche Bank Of Berlin, told Col
Gardner:
II told an American railroad pres.
dent that American exports Of manu-
featured articles we're not your trou
bic. This was before the war; Thi
is growing and will grow fast enough
What you require Is development 9
your agricultural resources. Food
what the world wants and must have
and the supply ia short. You mus
give your people better e~ducationt
advantages, and you must give theI
cheap capital,
IF you had good machinery fc
rural credits your land bank deben
ures (bonds) would sell anywhere
as good rates as your governmer
bonds"
Report From Great Britain.
A remarkable report on agriculturi
credit recently was prepared and su
mitted to the British government by
large commission of bankers, farmer
merchants and laborers-men from a
walks Of life, This report had NUT
to do with the back-to-the-farm NOV
ment and the agitation for a law
tax all uncultivated land at a pr
MUM. The report says, in part:
1--WE shall in the course Of our I
port give our reasons for believiI
that much Improvement can be effeC
ed Through land banks) in rur
credits WITHOUT IN ANY WA
COMPETING WITH EXIST1N
BANKS.
Closely connected with the subje
OF rural credit and capital for L
Both Country and City.
There are many candidates in eve
primary who are strong with the re
dents Of the bigger towns. In eve
primary there are men In whom I
country voters have confidence.
Is rarely the case, however, that o
man Is equally strong with the farm