The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1916-03-21

make their improvements. If we could
mobilize the one hundred million dol
lars into loans the next few years at a
low rate of interest, on the one per
cent amortization plan, Idaho would
not need government aid to get cheap
money.
The long time amortization plan of
loans at low rate of interest and
with a small amortization of the prin-
cipal is not new thing. 1t has been
tried out successfully in many places
and always with great advantage to
the people. 1t has the direct effect of
offsetting taxes, stimulating improve
ment of lands in particular and the
development of the states resources
in general, and increases very mater
tally the desirability of the new land
to be sold.
The Idaho state land board, in max
ing loans, follows the method of hav-
ing the party wishing a loan make APP
plication on a blank furnished by the
state. Then an appraiser is sent out
from the office to look at the land and
place a value. Because of its mani
fold duties the board, in approving a
loan, must rely entirely upon the re-
port of the man sent out from the Of
flee to view the land; no matter how
good the mans judgment might be
regarding lands in one locality, he
cannot possibly give the time to each
application sufficient to familiarize
himself with all the details of identifi-
cation of the land, its value, etc, ex-
cept through inquiries of the friends
and neighbors of the applicant, and
sometimes this is not always the best
information.
On the other hand, if the county
commissioners were required by law
to make the appraisement they would
know the land in most cases personal
ly, besides having the benefit of the
advice of the assessor. Another thing,
it is a part of their duty each year to
equalize values of all property and
in that way they would be more COM
petent and familiar with values, loca-
tons, etc, than any special examiner
of the land board with the limited
time at his command to examine each
piece of land.
The county attorney could be au-
thorized to pass on the abstracts and
obtain immediate corrections, thus re-
lieving the attorney general of one of
his too many time consuming official
duties.
The collection of principal and in
terest are now made in the state
treasurers office This necessitates
an endless amount of correspondence
in checking up the payment of taxes,
water maintenance, ditch assessments,
etc, which could in the main be done
away with by having the county treas
urer make the collections.
No county would for many years eX-
coed 100 loans and this would be no
great burden to any set of officials.
However, to compensate the county
the state could well afford to turn
over to the county the one per cent
appraisement fee now charged for the
expense of making appraisement.
We can put all of our school bonds
sale contracts and mortgages on a six
per cent semi-annual payment basis
five per cent to apply as interest and
the balance to apply on the amortiza-
ton of the principal, and the state
would actaully save money by so do
ing if handled by the counties as sug-
gested and the saving in the expense
of handling would be given to the
school district, the borrower of state
! money and the purchaser of state
land This would put all land sales
loans and school bonds on a 36-yeaI
basis In other words, the purchaser
or borrower of state money, by a
semi-annual payment at the rate OF
six per cent on the amount of the orr
ginal loan, would have his entire debt
of state money disposed of in sc years
The actual time figures a fraction
more than SO years, but the extra
amount is so small that it could be in
cluded in the last payment.
While, in my judgment, it would be
very unwise to unnecessarily restrict
large loans, the small loan should al
ways have the preference, regardless
of the higher proportionate expense
of making it, which in fact is too
small to consider That small loans
will aid more people should be a suf-
ficient reason for the loan and for
the cheerful assistance Of every Off
cial in whatever station he may serve
c. W. Lake was in the city from
northern Nevada Friday on his way
to Filler to get some horses which he