American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1917-08-24
STATE TREASURER EAGLEs0N
PLAYS STATE LAND BOARD

NAT the security oAAtit1 TIC nNA+'
was ample for the amount OF the
loan asked. and that the Judgment
OF the states appraiser was good.
Yet the states money Is still UNI
loaned.
In one instance a renewal was re
fused by the land board and the party
WAS compelled 10 80 20 a foreign loan
agency and pay a higher rate OF in
tcreai. His land was appraised at
exactly 10 times the amount he asked
OF the stale, and he WIS offered a
loan OF i've times the amount he had
from the state, bat regardless OF all
this security. the board required the
loan 10 be paid and the state still has
the money on hand waiting for IN
veasmenf and the public schools and
institutions have lost the income.
while the board may not intend Il
80. Il looks as N the board goes on
the assumption that the farmer Is dis
honest and asks for more than he Is
entitled 10, also that the appraiser
sent ont BY the board is standing In
with the farmer.
This not only shows suspicion and
a lack Of confidence Ia the integrity
and honesty Of the farmer applying
for the loan. but also shows a dis
creditinR lack OF confidence In the
appraiser whom the board sends out
as rs representative, and upon whose
judgment and report the board must
act.
This seeming lack OF confidence
not only reflects upon the board and
It's employees. but breeds suspicion and
wuUf.4..f Zoe .If atuf. .Fftrf.Is a. uaalI
80 Per Cent Cut II Responsible.
IT would therefore seem that the
whimsical so per cent habit OF cut
ting down loans. regardless OF the APP
praised value. Is responsible IN a great
majority OF cases for the loan not be-
ing taken.
mo one could believe that loans
like the above land there are many
letters on die In the land department
showing similar caaeaj would ever be
turned down by a board composed Of
experienced men Ia the loan business.
who were giving their entire time 10
this work and wanted loans.
The turning down OF such loans
would seem 10 be more OF a within
Than good business Judgment. and
clearly shows why the state has 80
much idle money that ought 10 be out
ON Interest 10 the farmers who need
the cheap rates.
Eliminate Prejudice.
Loans must be based on the
security offered and the report OF
the ppraisor, and not on the
judgment or prejudice OF some
one who. for political reasons or
otherwise, thinks the applicant
could or should get along on a
less amount than asked for.
As AN evidence OF the condition
confronting the state az this time.
would respectfully call your attention
% the fact that in the last tire,
months iunnH have been complete,
-aEKrcgHtiug tl23.GbO, and ia the sam,
length of time loans have been pale
off a~KgregatinE fl26.s73 so. or NOR,
loans were paid or by s22235O thar
have been made.
I'm many instances these loans
have been paid hy loan agents.
which shows that the farmer went
60 the foreign loan companies
and paid q higher rate of inter
est rather than deal with the state
N*N't 10 iAfHNNt WttAiNlh OF 40
Ing business and there are many
letters on die ln the land depart
mont showing this deplorahle con &
ditlon 81 affairs.
To claim that Idaho cannot loan
SlSo.000 more on farm lands al 8 per
cent where there is over 100000
600 borrowed on farm lands ia the
state az an average rate OF a little over
= per cent. and when the United
states government can get applica.
lions FOR over $1,000. 600 OF loans
within a couple OF months. Is certainly
admitting the obsOletcness OF the land
boards method OF doing business Tor
Idaho
Remedies Suggested.
some ~ the most Important RENE
dies for the present condition OF az
fairs would seem 90 be-.
zee closer "a the people.
~Get the confidence Of he hor.
rowing public.
Make Il easier ior the farmer
{" Evt bis loan.
lrrai an application from a
purely business standpoint. as any
banking board or other loan
H~f"ff NWuiu no. ANA avoid enst-
Ing suspicion on the motives and
Judgment Of the borrower and
likewise on the boards appraiser.
MAKE the applicant feel he
has q right 10 ash Tor 4 loan aud
thai the state i not comforting
= favor ON him but that he 4
ia'oring the state. aud DO not
make the farmer feel he l.
locked upon as a suspicious char.
hcirr ~ a sort 81 q criminal be-
cause he ssh. for a loan.
advertise in each county that
1our appraisers viii be- there Al
certain times &C. take appllea.
liens for farm ioau,. and 10 an.
praise The land. and better vet.
nave an appraiser la each county.
- that a farmer can 70 TO him
hnJ DAY and appi, lor a loan.
-fal the appraiser ior The work
ne does, and have him 20 10 the
farmer aud muN 49,. a.