American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1917-08-24

abstract to the attorney general for
his opinion"
Again to the Register.
"The abstract and opinion of the
attorney general are again returned
to the register, who issues an order
on the auditor, which must first go TO
the governor and be countersigned
before the warrant can be issued.
THE auditor draws the warrant in
favor of the governor, as chairman of
the state land board. 1t is sent to
the governor and he in turn assigns
the warrant to the applicant and re-
turns it to the register, who then
finally sends it to the borrower.
"Such methods are uncouth,
unsOphisticated, unbusiness-lke
and out of date. This procedure
consumes much valuable time
and creates suspicion and dis
gust, and would ruin any bank
ing institution that would follow
it.
such methods show conclu-
sively the necessity of having a
financial board to handle these
immense funds, composed of men
{ chosen for their fitness, ability
and experience. the same as
bank would require of its officers
and employees.
Political Board Not Suited.
They show clearly that a po-
litical board selected at random
over the state, invariably for
] qualifications other than those of
+ a financial nature and which for
partisan reasons changes its cler-
ical force throughout, regardless
of ability or qualification. is not
the proper organization to handle
such large financial matters sue
cessfully; and it is therefore little
wonder that such muddles should
arise when such an organization
is put up against the proposition
of keeping 100000 Invested,
and in addition care for about
S90.00O,O00 worth of timber and
land.
Only 45 Per Cent OF Loans Taken.
From records in the state audi
tors office and in the office of the
register of the state land board, it
appears that the board has allowed a
total of 234 loans, totalling S440. $50
that have not been taken; that only
45 per cent of the loans allowed by
the board are accepted by the farmer
and that over 90 per cent of the loans
allowed have been cut all the way
from $50 up TO 80 per cent of the
amount of the loan asked for, and
all regardless of the security offered
Irs - hn n
THAT from January l to July l.
1917. the board allowed loans aggre-
eating S347 400 and of this amount
there have been warrants drawn tc
date for only s159OOO.
An individual Case.
Your attention is called TO a case
where a farmer applied for $500
Your appraiser valued the property at
$4,000. exclusive of Improvements
or figuring it on the one-third valua-
ton. the farmer was entitled TO $4,000
This is $500 more than he wanted
and asked for
Regardless of this fact the board
saw fit to cut the loan down TO SS40C
and the farmer could not take the
loan, because he had to have the
amount asked for The farmer knows
how much he needs and rarely asks
for more.
Almost invariably these people
must get their money, and pay much
higher rate of interest.
Farmers Judgment Is Proved.
But the fact remains that he
proves his own judgment of val
uation, and that of the states
appraiser as we'll, by getting the
loan.
I'm many instances. the farmer
sees where he can better his con-
dition by increasing the amount
asked for from the state, and gets
that also, showing conclusively