The labor journal. [volume] (Everett, Wash.) 1909-1976, 1916-03-31
RURAL CREDITS

/ ing seven per cent interest with only
fifteen years to pay them. Suppose
we only had one per cent interest to
pay, and thirty years to pay the prin-
cipal on the installment plan? We
need a manual training and domestic
economy building on our school
grounds, but the question has been
voted down and our children who are
now young are deprived forever per-
haps of that education. Cheap money
/ for public improvements would solve
the problems of unemployment. 1t
would solve all problems Of monopoly
and trusts. The nation or state
could operate coal mines and fac
tories. They could build railroads
and ships to transport passengers and
goods in times of peace as well as
when at war Whenever a monop-
oily or trust sticks up its ugly head
the remedy of state competition
backed up by money at a low rate
of interest would intervene. The
present antitrust laws are abortive.
Those whom said laws oppose laugh
at them. We all ought to laugh at
them and we all would laugh were
not many deceived by them. Once
more | wish to urge the Importance
of the first recommendation and the
preamble not only to the farmer but
to all others of the working class
The first time that the state
grange of this state or any other
state, has gone on record on this
question of cheap money for public
improvements was at the Colville
session in June, 1913. The following
resolution was passed with only two
dissenting votes and you will observe
it is almost the exact words of the
Centralia resolution:
Whereas, in all ages of the world,
in all civilized communities, usury
has been a burden and a curse; and
whereas, the debts OF the coun-
try, both public and private, are so
large and the interest paid thereon
excessive; therefore, be it
Resolved, that for the purpose OF
providing money for public improve
: ments we favor the issuing by states
counties and local governments, long
time bonds, bearing interest at not
to exceed one per cent per annum, tc
be deposited with the secretary of the
United States treasury for which they
will receive legal tender currency, re
ceivabe for all debts, public ana pr1
vate, and to be redeemed and retired
by taxation of the property in said
state, county, city school or other 10
cal government in equal annual in
stallments.
Introduced by Walter Price, Out
look, Wash"
| believe that l can say that the
state grange is solidly behind this
proposition. l have frequently ad
yocated it in the Grange News. 1t Is
fact also that other societies OF the
working class have also advocated
the same idea
A CURRENCY PLAN
We now come to the second recon
, mendation, which reads as follows:
l Second, that the United States
/. government loan legal tender cur
. rency on first mortgage land loans a
r not to exceed two per cent per an
I NUN interest, repayment to be made
. on the amortization plan. No LOAF
/. to be made on more than forty acre
. of irrigated land, one hundred ant
, sixty acres of grain land or six hun
D dred and forty acres of grazing lan'
e to any one owner"
2 The question now arises, Wh,
. should the farmer receive this spe
1 cial privilege. will answer frs
S for reason of public policy, just tn
e same reason that the wage worker
e should be furnished work rather thaI
s soup houses and other charity. !
a should be the policy of our nation L
s keep the land in the hands of thos
v who cultivate it. Statistics show tina
). farm mortgages and tenancy are o.
:. Concluded next week.