Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1916-06-22

N. Evans, Judge. West Plains, MO-.
w. d. Byrd. mayor, Charlottesville,
Samuel Resented. member
Board of %Freeholders. st. Louis, Mo-;
o. e. Jennings, president. Central
Trades and Labor Assembly, Spring
field, Mo-; M. P. Moody. editor, War.
.rensburg, Mo-; John T. Fitzpatrick,
Commissioner Labor Bureau. Kansas
City, Mo-; Floyd Tuggle, farmer, Gal
latin. Mo-; Fred A. Morris. merchant,
Mexico, Mo-; Charles Sumner, presi-
dent Industrial Council, Kansas City,
Mo-; 8. D. Groner. professor rural eco
Monies, University Of Missouri, Co
lumbia, Mo-; C.. L. Woods, editor. Rol-
la, Mo-; c. F. Enright, banker, st. Jo-
seph, Mo-; G. 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
first 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-
fices made by these men will never
be fully appreciated and cannot be re-
paid. Their reward must always on
sist in the success Of their efforts.
The farmers Of the state will be
the first and permanent beneficiaries
Of the labor of these public-spirited
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 we'll
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-
x,x;orot par1roarf orI 10 tia norA-
ner Land Bank Bill, enacted by the
last legislature, delivered before q
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.
ply convey its import to the student
of the subject. In the course of his
address Cot. Gardner said:
Our system of 3-to5 year loans Is
discredited and archaic. 1t Is inevita-
BILE that these loans must be renewed
with the usual commissions, or that
the 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 discredited this 3 to 5 year loan
plan that we use in America, and it
should have been discarded by US
many years ago. The maximum time
allowed for paying off loans for such
purposes Is 80 years in Finland, SO
years in Chile, 36k years in New Zea-
land, AZ years in Australia, SO years
in Italy and Japan, SAN years in AUS
tria, 55h years in Russia, 56k years
in Germany and Sweden, 81 years in
Switzerland, go years in Denmark, GO
years in Hungary, 6sh years in Ire
land and rs years in France.
1T is stated on authority that there
is a total of rs billion dollars being
utilized by the farmer in the above
named countries on this longtime
bond issue plan at an average of 8 to
4 per cent interest. The necessity for
development, particularly here in Mis-.
souri,, Immediately suggests the prin-
ciple Of the longtime or amortization
plan.
ut must be remembered that agri-
cultural products are largely regulated
by International competition. Missouri
wheat, for instance, completes In Liv.
erpool with wheat from Russia,
France and Argentina. If farmers in
other nations are able to secure their
money at about half what III Ameri.
can farmer has to pay, considering
that our land will produce less and
less because the virgin qualities are
gradually being worn out, what viii
be the result without rebuilding?
II had a long talk with Herr Gwin-
ner, president Of the Deutsche Bank,
In Berlin. He is considered one Of the
most astute financiers, business men
and farmers in the world. This u
what he said:
/, "I have Just finished an interview
with the president Of n Of your rail-
!, roads. I told him American export OF
!, manufactured articles was not your
. trouble. 1t is growing and will grow
fast enough-you can't help 1t. What
!; you require is development Of your
:. agricultural resources Food is what
the world wants and must have, and
! the supply is short. You must give
your rural people better educational
. advantages, and you must give them
cheap capital. II you had good machin
cry for rural credits your land bank
debentures would sell here and the
world over at as good rates as youl
government bonds"