The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1916-03-16
the permanent endowment funds and
would be to loan for all time.

chants and manufacturers are comneu.
ed to pay to get money to make their
improvements. If we could mobilize
the 100 million into loans the next
few years at low rate of interest on
the ! per cent amortization plan. Ida.
no would not need Government aid tn
get cheap money.
We now have between 1900 and
14OO farm loans, made on lands In al.
most every county of the State. These
loans range in amounts from 5000 to
$4,000 and cover from to 23OO
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 10 loans of 800 are safer than
one loan Of $1,000 based on an equal
security while In my Judgment. IL
would be very unwise to unnecessarily
restrict large loans, the small loan
should always have the preference. re-
gardless of the higher proportionate
expense of making it, which In fact
is too small to consider. That small
loans will aid more people should be
a sufficient reason for the loan and for
the cheerful assistance of every Of
ficial In whatever station he may
serve.
The long time amortization plan of
loans at low rate of interest and
with small amortization Of the prin-
cipal is not q new thing. 1t has been
tried out successfully In many places
and always with great advantage to
the people. 1t has the direct effect
of off-setting taxes, stimulating i'm
provement Of lands in particular and
the development of the states resources
In general, and increases very mater
tally 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 the loan,
make application on a blank furnished
by the State. Then an appraiser is
sent out from the office to look at the
land and place value. Because of its
manifold duties, the Board in approx
ing 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 judgment 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 identi-
fication Of the land, its value, ETC., ex-
cept through inquiries of the friends
and neighbors of the applicant and
sometimes this is not always the best
information. On the other hand, If
the County Commissioners were re-
Quired by law to make the appraise-
khO ND In
most cases personally, besides having
the benefit of the advice of the asses
sor. Another thing, it is 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 any
special examiner of the Land Board
|, with the limited time at his command
to examine each peice of land
i The County Attorney could be auth
| orized to pass on the abstracts and
, obtain immediate corrections, thus re
lieving the Attorney General of one
: of his too-many tine consuming Of
, ficial duties.
The collection of principal and in
terest are now made in the State
Treasurer's office. This necessitates
an endless amount of correspondence
in checking up the payment of taxes
!, water maintenance, ditch assessments
ETC., which could in the main be don'
, away with by having the Count!
! Treasurer make the collections. Th'
notice could be put on and MADE
part of the tax notice and the collec
ton could be made at the same t1m'
|. the tax is collected and with the SAM
: receipt at practically no addltlona
expense. The Treasurer would nav
I ali the tax data at hand and IL al
y tax collections of whatever klnd
!. nature were made in the County Irea
surer's office as it should be, instea
! of a dozen different places, all dat
8 relating to the welfare of the State
q securities would be on file there an
8 tbe States interests could be fully pre-
tected. In case of non-payment, SIN
: liar procedure could be had as WI.
the non n-payment of taxes ana at III
Il same time and manner with no aou
y tional cost.
= No county would for many years e.
u ceed 100 loans and this would De Il
q great burden to any set OF of1clal
! However to compensate the count.
II the state could well afford TO tur
= over to the county the one per Gel
Il appraisement fee now charged Tor u
!, expense of making appraisemenI
q We can put all of our school Donu
y sale contracts and mortgages on
u six per cent semi-annual paymei
D1 basis, five per cent to apply as !
"a terest and the balance would app
q on the amortization of the prhcip
u and the state would actually save mo
IN ey by so doing If handled by the cou
"a ties as suggested and the saving IN u
se expense of handling would oe glv'
az to the school districts, the borrow
10 of state money and the purchaser
% state land. This would put all ial
~ sales, loans and school BONDS OH =,
ne SO year. basis. In other words' =
re purchaser or borrower OF state none ne
us by a semi-annual payment at Ihe "a =
ne of six per cent on the amount Oh
or original loan, would have his emu
tie debt of state money disposed OF
d 38 years. The actual time ngur
n fraction more than 36 years U
mr. tbe extra amount is so small tnal
- AIa locf nQNI1el