American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1917-06-19
NOT SINCERE.

Some of the statements made by
ehe speakers 10 Sundays rally could
not have been made by candid,
shouEhfful men. State Auditor Van
deuzen attempted 20 take credit 10 the
state land board for Investing 800
600 OF the state school endowment
funds in Liberty Loan bonds, drawing
AZ per cent interest Not only did
ahe Investment 81 this money Ia bonds
deprive the farmers % a. chance 10
get six per cent money. but n depriy-
ed the state school funds OF : 1880 a
year Ia interest. and IN the course Of
years this will mou 20 a tidy sum
This was a bad piece Of business for
both the borrowing farmers and the
schools.
The attempt to take credit for the
state land board On the issuing OF
$500 900 state highway bonds and the
placing OF the money Ia the banks OF
the state whore n would be available
for farmers 10 procure seed. etc " was
positively dishonest in the FIRST place
the issuing oi the bonds when h was
decided 10 do NO road work until after
harvest. the bonds bearing ~ per
cent interest was bad business. In
b second place the land board, by
resolution spread upon iis minutes,
authorized the deposit uf the proceeds
OF the bali million bond issue in the
banks ~ New York City az 2 per cent
Enfereat. without security. II its plan
had been carried out the state road
fund iu the six months the money
would have remained IA the bank
would have been Increased by Interest
earnings OF 5000. and the state would
have had 20 pay out sli $50 IA Interest
ON the bonds-certainly nothing TO
braF about from a business stand
pclnt The dishonesty. however. lies
IN She claim that the land board sold
abe bonds and placed the money In
she banks OF the state 70 ease local
financial conditions. The state land
board sold the bonds alright. but in
stead OF placing the money Ia the
banks Of the state Il directed the state
treasurer by resolution. 10 place the
money Ca deposit IN New York. with
ouf security. az 2 per cent interest.
The state treasurer interviewed. how
ever. aud asked the banks of the state
60 Increase their bonds running 10
the state to insure the state against
Ioss. and placed the money IN the
banks Of Idaho Ia spite OF the land
boards resolution, at ia per cent in
aerent State Treasurer Eagleson by
eRking this action earned for the state
approximately 81 500 more la interest
than II he had followed the land
boards resolution. and kept the non
ey in idaho. what credit ~ due any
one h due State Treasurer Eaglea0n.
and moi the stats land board. These
ahiuEn are matters OF record. and tho
state auditor ~ the secretary Of the
stale land board. and presumably
wrote the resolution. lie could not.
therefore. have been candid and hon
eat In the statements he made.
Governor Alexander fell short OF
abe opportunity the meeting gave him.
Aie added nothing TO the patriotism
ahRt already existed lie was not
diEnihed az all times lie was not
sincere az all times. He was not sin
eene when he told farmers the bust
meas men would harvest their crops
without cost He was O sincere
when he said no Chinese labor would
come into Idaho while he was COVER
. He can neither import foreign
AabDrers nor exclude them Congress
can alone do so. and Governor Alex
ander knew a. he was not sincere
ahon he said low or no law" the
atate Of Idaho would do certain things.
Law or no Law" belongs 20 kings and
kaisera. and not 20 servants under 4
republic who derive all their powers
through laws passed by representa-