The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1917-08-23

The letter from the state treas
urer TO the governor was write 81
executive. August 8 the govesnor
called the state treasurer before
the land board to demand what
action could be taken that would
result in increased loans being
made from the school funds.
Eagleson told the governor what
he believed to be wrong with the
present system. The g0vern0r de-
nnanded fhat the suggestions be Il
put In writing.
Eagleson asserted when before the
land board that the whimsical 60 per
cent habit Of cutting down loans, re-
gardless of the appraised value, is re-
sponsible in great many of cases
for the loans not being taken" The
same assertion is contained in the
letter.
Methods Are "UncOuth."
]. The state treasurer terms the pres
ent business methods employed by the
land board in handling its loans ''un-
couth, unsophisticated unbusinesslike
and out-of-date" He says the pro-
cedure followed consumes much valu-
able time and creates suspicion and
disgust, and would ruin any banking
institution that would follow 1t.
''Such methods show conclusively
the necessity of having a financial
board to handle these immense funds,
board composed of men chosen for
their fitness, ability and experience,
the same as q bank requires Of its
officers and amnlOveS"
Farmers Reject 234 Loans.
Evidence is presented by the
state treasurer in his letter show
ing that 1894 loans, tOtaling
S44O, 500, have not been taken by
farmers over the state after they
have been allowed by the board;
that only As per cent of the loans
allowed by the board are accepted
by the farmers, and that over so
per cent of the loans allowed have
been reduced from $50 to the so
per cent of the amount of the loan
asked for, and all regardless of the
. security offered or the report Of
the appraiser. That from January
| to July 1, 1917, the board allow
ed loans aggregating $347, 400, and
of this amount there have been
warrants drawn to date for only
$159, ,0OO."
After prefacing his letter with ex
tracts from the state laws which EN-
power the state treasurer with the
duty of apportioning out interest mon
'ey received on, the principal In the
school fund, Eagleson writes:
Eagleson's Suggestions.
Il have the honor, therefore, to Of
fer the following suggestions relative
to present methods and also ways to
lend and keep these ever increasing
funds properly invested i'm good Sc
curities so that the maximum amount
could be earned, and thus relieve the
taxpayers of at least great part OF
their tax burdens.
II trust the board members will bt
broad minded and not take the sug
gestions offered herein as persona
criticism, for ! entertain only the high
est opinion OF the personal integrit,
of each member of the land board.
.'The foundation of the trouble Ii
deeply seated in the whimsical condi
tions of political partisanship and ths
personal equation is.z9faly incidental
The suggestions are&f iiefefore Offered
in the spirit of the request, solely fol
the purpose of bettering the condi
tions now existing. and to help ge
this vast sum of money to earn th'
maximum amount Of interest possible
What the Records Show.
in order to present the. actual con
ditions as they are ! have had t.
take considerable time to examine th'
records. The data there discloses
shows beyond question the reason 10
the states idle money and consequen
loss Of interest, amounting to owe