Camas Prairie chronicle. [volume] (Cottonwood, Idaho) 1901-1917, 1916-03-31


of the land far beyond the differ
ence in interest for a few years,
besides the increased price would
be in the permanent endowment
and would be to loan for all time.
The greatest handicap to the
development of our state at this
time is the high rate of interest
our farmers, merchants and
manufacturers are compelled to
pay to get money to make their
improvements. If we could mo-
billie the one hundred million
dollars into loans the next few
years at a low rate of interest,
on the one per cent amortization
plan, Idaho would not need gov
eminent aid to get cheap money.
We now have between 1900
and 400 farm loans, made on
lands in almost every county of
the state. These loans range in
amounts from 5000 to 500, 900 and
cover from five to 2300 acres.
The records show that the small
borrower pays both principal and
interest more promptly than the
larger one, and any banker will
testify that ten loans of 500 are
safer than one loan of $1,000 based
on an equal security. While in
my judgment, it would be very
unwise to unnecessarily restrict
large loans, the small loan should
always have the preference, re-
CARELESS of the higher proportion
ate expense of making it, which
in fact is too small to consider.
That small loans will aid more
people should be a sufficient rea-
son for the loan and for the
cheerful assistance of every Off
cial in whatever station he may
serve.
The long time amortization
plan of loans at a low rate of in
terest and with a small amortiza-
ton of the principal is not a new
thing. 1t has been tried out sue
cessfully in many places and
always with great advantage to
the people. 1t has the direct
effect of otfsetting taxes, stimu-
lating improvement of lands in
particular and the development
of the states resources in gener-
al, and increases very materially
the desirability of the new land
to be sold.
The Idaho state land board, in
making loans, follows the method
Of having the party wishing q
loan make application on a blank
furnished by the state. Then an
appraiser is sent out from the
nffice to look at the land and place
a value. Because of its manifold
duties the board, in approving a
loan, must rely entirely upon the
report of the man sent out from
the Office to view the land; no
matter how good the mans judg-
ment 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 identified
ton of the land, its value, etc. ,
except through inquiries of the
friends and neighbors of the ap
plicant, and sometimes this is not
always the best information.
On the other hand. if the coun-
ty commissioners were required
by law to make the appraisement
they would know the land in most
cases personally. besides having
the benefit of the advice of the
assessor. Another thing, it it a
part of their duty each year to
equalize values of all property
and in that way they would be
more competent and familiar
| with values, locations, etc., than
a special examiner of the land
board with the limited time at
his command to examine each
| piece of land.
The county attorney could be
authorized to pass on the alb
stracts and obtain immediate
corrections, thus relieving the at
| torneV general of one of hiS too