The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1916-06-23

ASAu' mayoI, CdFullerSVllle
Mo-; Samuel Rosenfeld, membe
Board Of Freeholders, St. Louis. Mo.
O. Y. Jennings. president Contra
Trades and Labor Assembly, Spring
field, Mo-; NJ P. Moody, editor, War
%rensburg, Mo-; John T. Fitzpatrick
Commissioner Labor Bureau. Kansa,
City, Mo-; Floyd Tuggle, farmer. Gal
latin, Mo-; Fred A. Morris. merchant
Mexico, Mo-; Charles Sumner. presi
dent Industrial Council, Kansas CITY
Mo-; S. D. Groner, professor rural eco.
Monies, University of Missouri Co
lumbia, Mo-; c. L. Woods. editor. Rol.
Ia, Mo-; c. f. Enright, banker, st. Jo-
seph' Mo-; c. A. Winfrey, president
Jackson County Farm Bureau. Buck.
ner, Mo-; R. T. Woods, president State
Federation Of Labor, Springfield. Mo-;
Almon Ing, lawyer, Poplar Bluff, Mo.
The statewide activities of the
Gardner Land Bank State Committee.
OF the Initiative Petition Committee
and the Congressional District Com
mittee accomplished in due course the
1lrst necessary step-that is, the Sc
curing of sufficient signatures in each
congressional district to comply with
the law.
When 1t is considered that all these
men and committees were volunteers
and gave their time and labor and
ability to the public service and inter
est, animated solely by the motive of
lettering the agricultural conditions
OF the state and, consequently. the
higher development of the CONNER
cial interests of the state, It is not a
matter Of marvel and wonder that so
much was accomplished. The sacri-
fees made by these men will never
be fully appreciated and cannot be re-
paid. Their reward must always con.
sist in the success of their efforts.
The farmers of the state will be
the first and permanent b%eneficiaries
Of the labor of these philosophical
citizens. In the gradual development
Of the Missouri State Land Bank plan
the whole state, in all its ramifica-
will reap its benefits.
The plan and effect of the Missouri
State Land Bank is generally well
understood, but a brief outline of its
purpose and the relief to farmers at.
forded by it may be of interest TO
those not familiar with the plan. Quo
tations from the address of Col. Fred
erick D. Gardner, author Of the consti-
tutional amendment and of the Gard
ner Land Bank Bill, enacted by the
last legislature, delivered before a
Joint conference of the agricultural
committees Of the Forty-eighth Gen.
eral Assembly, at Jefferson City. Mo-.
Jan. 20, 1915, will best and most sim
convey its import to the student
of the subject. In the course OF his
address Col. Gardner said:
Our system Of 3 to 5 year loans is
.discredited and archaic. It is inevita.
Bile that these loans must be renewed
with the usual commissions, or that
farmer must sell part of his invest.
ment That is to say, his capital must
be reduced If the loans are to be paid
in bulk, according to our system.
Neither is desirable nor should be nee.
essary. All other nations Of the world
have d~iscredited this 8 to 5 year loan
plan that we use in America, and II
should have been discarded by us
years ago. The maximum time
allowed for paying off loans for such
purposes is 80 years in Finland %
Years in Chile, 361s years in New Zea.
and, AZ years in Australia, so years
n Italy and Japan, SAX years in Aus.
ria 55h years in Russia, 56h ear
Il Germany and Sweden, 81 years in
switzerland, 60 years in Denmark. GO
In Hungary, 6S1 years in Ire
and and rs years in France.
ut is stated on authority that there
s a total Of 25 billion dollars being
Utilized by the farmer in the above
FAMED countries on this longtime
bond issue plan at an average of 8 to
per cent interest The necessity for
development, particularly here in Mis-.
iouri, Immediately suggests the prin-
'iple OF the longtime or amortization
,lan.
1T must be remembered that agri-
cultural products are largely regulated
~ international competition. Missouri
wheat, for instance, completes in Liy.
with wheat from Russia,
france and Argentina. II farmers in
'ther nations are able to secure theiY
money at about half what our Ameri-
farmer has to pay, considering
hat our land viii produce less and
ess because the virgin qualities are
gradually being worn out, what viii
the result without rebuilding?
Il had a long talk with Herr Gwin.
Ter, president Of the Deutsche Bank,
n Berlin. He is considered one of the
most astute f%lnanciers, business men
md farmers in the world. This is
what he said;
"T have just finished an interview
With the president Of one Of your rail-
'oads. told him American export of
manufactured articles was not your
rouble. 1t is growing and will grow
asst ~enough-you can't help It. What
require Is development Of your