The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1916-10-26
,TATE RURAL CREDIT VS..
FEDERAL RURAL CREDIT

| . - d : q
-. The !. democrats are pointing with
1EH p9 congress and holding out hi"hi
.es s,d TO the the farmers of cheap money,
ciaims 1t Is liable to fail ais
a'se IS dia tho. aw fhs postal !. Sta savings bank,
4 aicn lse Win ,5lp rrers rnere are jokers In it
O eis,tions. %. =
,;ns, wo claims are made for the la,y:
nenld be passed without offending the
.astern interests, which is probably
:, Second, that it win secure. some a,-
,,.,,l When n ne hearing was held at sioux
S,,g, Stsrminnins the location of one of these @
branches. the farmers present asked
Shey % were Tes tnfanmsd fmnarrassng tfd1 questions.
,nierest a,i.sre was contemplated with some
sasn, seenre nope nn,. that they might eventually
repled AZ that tber cent? cent The
borrow. money as cheap without roinw
through ya', all n the government red saps tape.
a, ~, loan under the proposed federal
rural ar credit plan, you would have to to
get h'me other farmers to sign your
They must also mortgage their farms
far about thirty years to secure Your.
t'sn Ssne ten or course. forrs the plan is that
"nciprocate. hut under the nrny,sin,, .inu
or Iion ,ne ..nd law 1T REQUIRES unanimous ac-
wards when. the next mans turn has
2een reached. Is it likely that many
american farmers are willing to have
rs this. $500 way
va II Dep y9u csef SECURE re loan 100000
I'd and you are compelled tn IS ,MYea, WITH,
Ills ais $4,000 in stock in the branch bank
fhe best ;e thing that can be said for the the
'nrmer whether he wants to make anv
One outstanding feature OF the law
elders appointed to manage IL il'at at
,,ro,,iu ro,0cG,oo u,o4 g a. year Then, there is a
r1Y'sion wil raye1 Tor a. federal INSPECTORS who
amine your property. This ennbies * tSa
~ national administration to take care
" some more deserving democrats"
STATE SYSTEM.
The The matter OF rural credits would
South Dakota farmer We're It no, not fne fnr
the fact that relief is promised d. from on
'a cam State souIne The present republi
Su"gestion of members of the Eu,,it,
League. submitted an amendment T.
z state system of rural credits rht,
IS, IS IN; the amendment m r which the republic
has been fGr rbfin Peter Norbeci
not only in getting g it itt'gdhronn,H throngHg for for
leg, stature, but has conducted n state
m.he MIN hsn5 and for yo 1t IN the present cam
that it was one of the si,biects ,,,5er
controversy in the Norbee!kc bS!ecfs Richnrsr hnrsr
'''I,hee rhe stata the Mas last primary campaign
as as mas been in operation in New Zea
and ,,,ienea for h,l quarter of century Ex-
cost o.. handling the loans. incindinn -
Losses. has been less than ona.baIf nf -
,na ,ra per ,ean cent ,e II is similar to the plan
mat ,hnt has sn been in force In Australia for for
brer er agonted ~ nemrs h and has more recently
provides for the state using its eredit
or the benefit of the farmers in the
2%f'Sp tSp OF oa securing farm loans That
'e bonds which can nrobnh,y oits hs
on at three to four per cent u,itt
,,a mmdersta;nding ,,,n,aIs =; and agreement that
leaning to the Il farmers ipa .'e apd pdrp9se fSe
n,"rtgages are held by the stiu state 'he ne
INST as, as security, the state guarantee.
}'H laanad on system similar to that Ts't
n which the s11 900. 100000 Of schna1
,"ney ?ts . is now loaned, and this state tat.
,t5n rs iiwenty I'VE tb,s five years of experience
- has never lost a dollar. SCHOOL
- me edersing leading bankers of this state
ars themselves. and many of tIhes tha,
EEL that 1t will not only be for the
%encFa. welfare, but also add to the
nrnsperity. of the banks IL the farming
communities are more prosperoms
Money secured In this way could he !
loaned on long terms--say twenty-five
Ian nn'r1y hat years is under the Amortization
Principal to be made each wear o'i ,ntf me
~" loan is wiped out Farmers fnxnri
t;r ~ .onn1 th's % plan shonld vote for consti-
next election dny.-Redfield Press