The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-10-20

posed largely Of lawyers, 1t was not
passed hurriedly, but after due delib-
Grafton 1t was not passed as party
measure. Forty-fve of the 60 Repub.
| lican members Of the legislature voted
for the bill, six being absent. In de-
nouncing the bill Judge Lamm cues
tons the intelligence Of a majority
OF the Republican members Of the last
legislature, II you think the prlnci-
| pies therein contained are sound, | beg
Of you not to be dissuaded from voting
for the amendment because OF the
fault finding of Judge Lamm, the can
didate.
Single Tax.
Now, as to his statement relative to
the single tax" nothing could be
more far-fetched nor a greater fallacy.
Single tax means that all tax is to be
levied against the land.
The farmer gets the loan from
the institution at the exact rate at
which the bonds are sold. ANY tax
imposed on these bonds would neces-
sarily be added to the annual rate OF
interest, wherefore, in exempting the
bonds from taxation, you are taking
that much tax off the land
The federal land bank system, which
my opponent commends so highly,
goes even farther in that respect than
does our plan by reason of the fact
that it not only exempts the bonds
from state and county, taxes, but ex-
empts them from the income tax.
also call attention to the fact that
when my distinguished opponent was
hn
lin an opinion which exempted from
taxation the stocks of all foreign cor
porations held in Missouri, OF which
it is estimated there are more than
one billion dollars worth. No one has
ever suggested that this was single
tax No one has ever suggested that
exemption from taxation Of billions OF
dollars of United States bonds was
single tax. But when it Is proposed
TO cheaper money for the farmer by
exempting the bonds on which his
loans are secured from taxation the
Republican party advances the hack
neyed argument that It is single tax.
This is in keeping with all of Judge
Lamm's criticism of the State Land
Bank system. do not believe the
Missouri farmer will be misled by this
sophistry.
NV opponents construction Of the
economic plan on which the rural
credit system is founded is entirely
faulty. For instance, he says that
one-half of l per cent on the mil
lion dollars loaned would produce
only 5000 per year. He is in error
here to the exact amount of
100 per cent. The bill plainly and
specifically states that this sum Is to
J he paid over the whole period OF 20
years. He says further that no pro
vision is made for accumulation OF
surplus. He entirely overlooks the
fact that the capital stock furnished
the institution Of the state does not
nav dividends. Hence the interest &C.
cruing from the use Of this capital
/, would produce a very large surplus,
Now the public is entitled to know
Just where my distinguished opponent
and the Republican party OF this state
5 stand on rural credits. To sum UP he
g saws my plan is unnecessary from any
4 viewpoint because of the federal sys
d TEN. His party's national platform II
Chicago condemns the federal system
9 Mr. Hughes on the 21st at milwaukee,
! says the whole Democratic accom-
| plishment must be wiped off the book
+ which would include the federal farm
= loan bill. Judge Lamm says in his
4 Springfield speech, I'VE stand fol-
: rural credits by an efficient and Jus
d law" Now, | believe it is his duty t
tell the people frankly why he com
. mends a bill which his national part!
condemns, and which will be repealed
l. ! Go
I what sort OF a law he would cal
l. equitable and just. And In the even
I of his election as Governor, wha
i he would do to carry out the people,
5 mandate to establish a State LAM
Bank Judge Lamm's remarks VIII
0 reference to state rural credits ar,
} hypercritical and clearly intended t
y confuse the people. He first says tina
s he was opposed to any state rura
s credit system because unnecessary
b He afterwards modifies this in hi
o Springfield speech, but does not stat
l. how or when he would inaugurate
o rural credit system in Missouri. TIL
9 national platform disposes of the rura
u credit system with 20 words. TIL
D. Missouri state Republican platform
70 disposes of it with 2S words, and we
Judge Lamm has devoted PRACTICAL
) all Of his speeches to this subject.
~ Roads.
IS Our present Democratic administrt
II ton in Missouri has aroused a kee
le interest in road development In thi
IF state. Not only men, horses and auto
W mobiles follow good roads, but civil
1t cation and religion as we'll They ar
10 the servants of the farmer and tn
ct city man. This agitation has bee
ar going on in Missouri for great man
re years. The time has come for earnes
IS active, united effort along this line.
o. Schools.
n The public school system OF Anne
lea is the foundation OF our demo-
re racy. 1t must ever be the apple c
g. our eye. Perhaps l speak with pa
H. ticular fervor on this question, as m
le only education was received in a coui
10 try public school, principally OF tn
Ill one-room type. My view Of the scho(
is that the time has arrived when on
al rural boy and girl must be given
IN good an education as any boy or 81
in any public school in America. Thi
re must be our goal. We must prepaI
TX our country boys and girls to soly
nNur dOOr w