The herald-advance. (Milbank, S.D.) 1890-1922, 1916-05-19

90
ana 1t gave me great satisfaction L,
see the last legislature uulnl " tine
people Il constitutional 10
make TINS plan possible. Inc 1eutlal
government may ADOPT a lural cleu4t
pan some uay, but 1t Will probably
be SO restricted as 10 almost neutIal>
lze It's Denent, as was done III the re-
cent banking act, the postal a.N4usa
bank, etc. The aelnan OF South
Dakota IN is TOR long time loans
at d low rate OF interest, with small
payments on the principal annually.
This plan would make 1t possible To-
every industrious young man to have
a farm Of his own, and pay tor 1t. We
would have fewer renters and w
boys going to the city looking for OPP
~portunltleS which are not to be found.
Experience with the school fund has
" concluSlNely that 1t is safe and
practical for the state to loan money.
Not one dollar has beer lost to the
state in the twenty-five years OF our
experience, but the $1,000, 600 fund
Is not sufficient to meet the demands,
though it has materially tended To
reduce the interest rate. School loans
- -
plan, ana state and should be sold
under a similar plan. | can state ups
on the best Of authority hat there
Will be very little difficulty in secur~
ing large sums OF money upon the
credit of the state lacked by farm
mortgages. The interest rate should
be low-four per cent or less. The
farmer cannot borrow on long time,
the state can borrow at a better rate
on long time than on short time. An
annual payment of about Z per cent
would not only keep up the interest,
but would in about twenty-five years
pay all the principal, provided a four
per cent rate vas paid for the money.
one u two crop failures would not
embarrass the farmer The large
commission now being paid for re-
newal of mortgages would be saved.
The prosperity Of the farmers would
make all business better.
These measures should not be OPP
posed by the banking interests. for j,
will eve aid in their prosperity. They
are not making farm loans-it is east>
ern money that is secured for this
purpose-and why moi get this eastern
money as cheap Is possible?
Irrigation.
If l am nominated l shall in the
fall advocate the adoption of several
constitutional amendments submitted
by the last legislature. One relates to
irrigation districts, This amendment
will make it possible for irrigation
districts to be formed where all the
expenses of the undertaking will be
borne BY those benefited by the en-
.terprise. Under our present %constitu-
ton, adopted over twenty-five years
ago, such work is prohibited. A
change should be made.
Federal Aid to Roads.
Under our present constitution fed
eral aid cannot be accepted for inter-
nal improvements. such as road build
ing. The amendment as submitted
for your approval this fall makes it
possible for the state to accept fea-
eral aid when it is offered. The press
ent congress will no doubt make lis
provision. South Dakota should be
in position to accept the share allotted
to this state.
Tax Reform.
Under our present system of taxa
ton, the burden of taxes falls most
heavily upon the man who improves
his property. improvements on real
property should not be discouraged by
excessive taxation.
Budget System.
favor the adoption Of a practical
budget system to apply to legislative
appropriations. | believe this could
be applied to our state finances with
results, as it would be a
the last legislature, on page z, and
business-like way Of handling these
matters.
History.
Naturally, ! feel proud Of the many
achievements Of the republican party
in this state, both in the matter OF
and legislation. In