The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1916-03-16
,.hu ". Eagleson in Favor OF
Cheap Money for
Citizens
70 REDUCE INTEREST
Making improvements Easy
for Merchants, Farmers
and Investors

qest state Treasurer John w.
r.sleson has the welfare Of the peo-
H. of the state in mind, as well as the
hture citizenship, Is becoming better
understood from day to day. Since as
sumiue the duties Of the treasurer's
offIce Mr.. Eagleson has introduced
msuv changes in the methods OF handl-
iur tie states funds In the interest
4 the whole people that have proven
yerv beneficial and at the present
time Il endeavoring to enlighten the
paonle on the condition Of Idah0's
finances and Of needed legislative ac-
Nan that would tend to lessen taxa
Han. enhance the value Of land and les
mu the rate of interest the people
nave to nay In order to secure money
to make IN improvements.
The following letter by Mr.. Eagle
son Is Of vital interest to every tax
payer In the state:
Since the transfer Of the mortgages
and school bonds last April and May
from the Land Department to the
Treasurers office, number Of changes
b the method Of making loans, col
lection Of interest and principal and
the sale Of State lands have come to
ny mind which think win materially
effect taxation, reduce interest rates,
enhance the States endowment funds
and simplify the States methods Of
doing business and reduce the cost
thereof
w reason for presenting the plan
FOR consideration at this time is be-
cause 1t requires legislative action and
such important changes should be dis
cussed pro and con before the legisla-
hlre meets, so that bills may be
drawn that will meet the approval of
the people. These securities and lands
belong to the people who are living
u Idaho now, just as much as to
mose coming here in the future and
surely we Of the present are entitled
% an the benefits possible from these
unds and lands, both directly and In.
ufectly provided only that we safe
guard the original funds for the use
~r~ ~tAaAh5 AdL<Is
Idaho has over 21a million dollars
nsested In farm mortgages bearins
ana per cent interest payable
%mi-annually; about the same amount
Invested In school bonds bearing 5 ant
per cent interest, payable semi
annually and about 5 million In lant
III Il, contracts bearing per cent paya
1e annually. In other words th,
s'a'e Is getting about 9 per cent in
.slest on over 10 million dollars from
ue sale Of its permanent endowmen
.anu lands We still have for esal,
approximately 3 million acres of othe
sauowment fund lands (about 700, ,OO
aties oi which Is covered with mer
aa anal'aple timber.) 1t is estimate,
=; aa' Wnen all this land and timbe
), sviu, Vc Idaho ought to have upward
lW million dollars to invest h
rana ,a.M loans and school bonds. Thi
~ ass sum OF money If secured, and use
=. ne peoples benefit as IT accun
tsrass VIII control and lower the in
sns ess rates charged in the state. L
raS s went the present rates must b
e, enueeu from time to time to NEE
NAN. 'sa''lerciai rates, but why not begi
y. -" ana reduce commercial rates an
~ an other possible benefits as well
~ ne recent extension of time n
frn,p payment Of state land purchase
ns svn ~ to 40 years. on the narti,
lsfed vhs h pian, has noticeably stim,
fha h.sy hD.suying and materially increase
tbs ss elus How much more none
~ las ssase would get from the sale I
intaraa.us us oy a material reduction
n esl the ana long time amortizatio
hnt "s 4 principal, can only be estimate,
itah,s at it would be extremely nro
the =. 70 the State by the increase
do,,, .alue OF its lands. none viii avf
In va,rn rnu tnat other lands would Ri
eyerS cue is also self-evident. Tn,
horrs,s scnool district, taxpayer al
ii a,s, OF money would be benefits
dollar Just as self-evident. Eve
Stata,a ~ increase in the value of Il
Il ~, lands adds just that much mo
wbich amount Of the endowment fun,
and WI earn interest for Ali fir
tha as this interest il All rsad 2
institationse Of schools and the sta
hgiy. 1t reduces taxes accor
land i al as the future sale OF o
the ststa aooncerned, it would well .,
thai ase s % sell on 5 per cent ba, 4
cent y per cent interest and i q
This no,tization Of the princin
price ~vuid certainly enhance I
ference !, .ue land far beyond the d
s tne increased price wv wog,d sssb. r.