The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-08-09
TREASURER ...EAGLES0N.
WOULD HELP TAXPAYERS.
TELLS LAND BOARD HOW TO
MAKE MONEY FOR THE
SCHOOL FUND.

While the taxpayers, through as
sessments levied upon subordinate
employees in the state house, are pay
ing assessments to create a demo-
cratic campaign fund, and while the
governor and his war cabinet are
gallavanting over the state on one
pretext or another, 1t is gratifying to
know that the republican officials are
attending to the business for which
they were elected. This was illus
trated a few days ago at meeting of
the state land board, when John w.
Eagleson, the republican state treas
urer, appeared and presented prac-
teal proposition by which the state
could receive interest on the great
school fund that now lies idle in the
treasury or is merely earning the per
balances. OF course it did not meet
the approval of the governor, who at
tempted to point out impractical fea-
lures of the scheme. The report of
the proceedings is taken from the
Boise Statesman:
EaeIeson's Plan.
The state of Idaho today has $723,-
900 cash on hand available for farm
loans. The amount is rapidly increas-
ing and will shortly total 100000,
according to State Treasurer John w.
Eagleson.
In a report made to Governor Alex
ander at the land board meeting Fri
day, the state treasurer suggested the
immediate investment of 100000 or
$500, 900 of this money.
"The state gets but per cent on
daily balances, while if the money
were invested in farm mortgages it
would earn, per cent" declared Mr..
Eagleson. During the last few
months the cash available for farm
loans has steadily increased each
month, and could the cash on hand
which was available for lending, even
the last six months. have been lent. to
the farmers on first mortgages at 6
per cent, the public schools and the
various institutions of the state would
have been enriched to the extent of
approximately $4,000.
This, 1t seems to be is an item
worth working for, since the earnings
of these funds affect every school dis
trict in the state.
hof No in,
this manner saves the taxpayers to
that extent, and in these times of war
and high taxes a saving of this amount
from direct taxation means much.'
Governor Seeks a Little Light.
The governor read the treasurer's
report and then asked how he would
set about lending a half million dol
lars.
II would send a man to every coun-
ty in the state, begin an advertising
campaign and let the people know
what we have to lend" replied the
state treasurer
But that is no remedy" said the
governor we have men out, and
the people know we have money to
lend. Why can't we lend it? What
Is the remedy?"
There are quite a number of dis
trlcts in the state issuing school bonds
and the state has the right to take all
of these issues" said Mr.. Eagleson.
THAT Is one method. There are 9TH
ers.
when a man applies for loan on
his farm you have your appraisers go
out and appraise the land, but in
nearly every case the board cuts down
ON the amount asked for. That is a
big mistake"
No Mistake, Merely Judgment.
No. responded the governor, that
Is merely a question of judgment"
mo, it is a mistake" retorted the
state treasurer, "the board has to rely
upon the report Of the appraiser. The
board does not know what the land
consists of. it takes the word Of a re-
liable appraiser. and it should either
grant the loan as advocated by this
appraiser or reject 1t entirely"
But" insisted the governor, that
is question of Judgment"
You asked me for my opinion and
l am giving 1t to you," replied Mr..
Eagleson. Il have received numer-
GUS letters from landowners who say
they have been compelled to go to
private banks to get money when the
land board cut down the amount they
asked for. This works great hard
ship upon the farmer. and compels
him to pay per cent or 10 per cent
to a private institution whereas he
could borrow from the state for 6 per
cent"
I'VE can't loan money any faster
than we receive applications" insist
ed the governor.
Eyes, but we could get more appli-
cations IL the situation was properly
handled and effectively advertised,
reiterated the. state treasurer.