The Devils Lake world and inter-ocean. (Devils Lake, N.D.) 1915-1920, 1916-10-19

LAKE
wouldEkpa ~ the expense Of sending
Tom, J~r.,to5the Agricultural College
for three years. If that same per-
centage e per cent) we're applied to
the 81, 900 total Of the farm
mortgages II would amount to $780,
100000 2 year, which is equal to the
entire wheat crop Of your state.
Besides, it is under a five years.
term, and II he wants an extension on
his mortgage he will have to continue
to pay that 2 per cent a year, and
probably -asbonus also, for it is harder
to get an extension than it is to get
an original mortgage. I met q friend
recently who had been in the mort
gage business in Kansas, where he
said f~he-charge on farms was 10 per
cent interest and IL per cent commits
sion and sometimes a cash bonus be-
sides. s.
Of course, you know that one of the
objects Of an efficient Rural. Credits
Law is to wipe out commissions and
bonuses and make long term mort
cages, running, if you like, all your
life, with privilege of amortizing
loans.
There is a lot of good in the law; it
could not be otherwise, because, you
know, about 80 per cent Of this law
is the direct result of Republican ac-
ton, it all comes out Of the Farm Life
Commission, appointed by President
Roosevelt in 1908. That commission
had. as its only purpose to ascertain,
farm conditions all wei the country.
It held hearings and had farmers tell
about their difficulties and then made
"a report, iniwhich it called attention
to the importance of legislation which
would give farmers better means Of
financing their farms. President
Roosevelt emphasized the report with
a special message to Congress, urging
that Congress take steps to study thu
subject.
Then President Taft showed hi.
lively intereet in the matter by send
ing instructions to all our ambassa
doris and ministers in Europe to max,
a special study of European methods
of financing agriculture. He also sen
a special commission Of three promi
nent men to study the subject, in 1912
and when they reported he sent thei
reports to every Governor in Americ:
with a personal letter urging the Gov
ernors to give the subject seriou
study and be prepared to discuss ,
at the next meeting Of the House o
Governors, which was held in Decem
Der, 1912. About that time farmer
began agitating the subject in farm
meetings. Leaders of agriculture mad
speeches upon the subject more or les
hazy and in many instances unsoun
because the subject was. not under
stood clearly. even by economists.
was discussed by the National Grang
then by Mels Farmers Union and b
the Southern Congress- non-politi
cal farm organization Of the Soutf
So much were they impressed in tn
Southern Congress that they appoint
ed an American Commission Of 10
Representative farmers to go to E.:
rope, at their own expense, to stud
the subject in company with the off
cial United States Commission.
Prior to that, President Taft ha
secured from Congress al act appoint
ing a United States Commission to G
to Europe for the same purpose, as a
official body representing the Unite
States Government. So these tw
commissions went together, and as
result they urged the passage Of
Rural Credits Law, based upon cool
Grafton of farmers.
But I want to emphasize to you tt
fact that not one step Of this prepar'
tory work is to be credited to the Den
ocrats, it was all done during Il
Roosevelt and Taft administration
President Taft signed the law autho
izing the United States Commissit
just before he went out Of Office. II
only thing that can be credited to Il
Democrats is the BUNGLING LA
WHICH THEY HAVE PASSE
which you will find absolutely inope
alive, because its makers don't kno
farmers nor farm conditions, and r
fused to take any advice from Il
Roosevelt Farm Life Commission
from the real farmers who investiga
ed the subject in Europe, unless tn
happened to be Democrats. They we
- @o~o~ - ~noG,o ~o1;&;no1 nor;%o1 ~