Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1918-03-07
CHIEF EXECUTIVE Is ANXIOUS
THAT SOUTH DAKOTA LANDS
BE MADE AVAILABLE FOR
OUR BOYS.
ADVOCATES THIRTY YEARS TIME
WITH INTEREST RATES Held
DOWN TO FIVE PER CENT
Six THOUSAND BOYS FROM s. d.
FARM HOMES NOW IN ARMY
AND NAVY, SAYS NOR


Governor discussed the various pro
posed constitutional amendments,
discussing at length the one regard
ing the sale Of state lands" "Our
state" said Governor Norbeck. has
much public land. Originally two
sections, sixteen and thirty-six. in
each township were set aside for the
schools. Fifteen per cent Of these
lands have been sold and there is
now . permanent fund Of f13.e32.-
s0s.01. the interest on which is
used for the maintenance Of our
schools. This money 70 all loaned
in South Dakota at s per cent and
has had q material effect in reduc-
ing interest rates. There lie still un-
sold .a,S89.e12 acres Of public land,
enough to make 1889 farms of 100
acres each which valued at $25 an
acre would be worth $6S,497,8 800. 90.
I'm addition to this, we have other
large tracts of land given A2s@by the
Federal Government, suckS.as State
University land, Agricultural Col
lege land, Capitol Building land; in
fact land for nearly every public in
etitution. These lands we're selected
after the eastern half of the state
was pretty we'll settled and are,
therefore, not so valuable, There are
1898 quarter sections. and IL val
ued at $40 per acre they would be
worth $11,954,700.0 90, making a
grand total Of 2,937.197 acres Of
land worth approximately $~7o,443,-
500. and the values are increasing,
but while the state has all this un-
developed land for sale and thous-
ands OF boys grow up on our farms
each year. 1t is a deplorable fact
that hundreds of these boys have
gone to other places looking for
farm homes: some going to western
states, others to the different pro-
vinces OF Canada, which have held
out special Inducements for the
young man who wants to sratt
farming. South Dakota has done
nothing; 1t has not even offered
the land on easy terms Of payment
because the constitution did not
make this possible. It has long been
my idea that the greatest drawback
to agricultural development haa
been the high rate Of interest on
farm loans and the short time which
tho loan would run, necessitating
frequent renewals and the payment
OF large commissions. to say nothing
about the uncertainties or the diff
culties in securing loans when crops
were poor or times were hard. At
my request the legislature submit
ted q new plan for your c%onsidera-
ton.
Under our present system the pur-
chaser Of school land must pay one
fourth OF the purchase price In
cash and %one-fourth In i've. ten and
h3toen years. The entire purchase
price and interest must be paid
within the fifteen year period.
proposed that by amending the con-
stitution, we provide a plan Whereby
the purchaser may make a cash
payment OF 10 per cent and gets
immediate possession Of the land,
and pay the balance Of the purchase
price and interest In small annual in
stallments, extending the time limit
to thirty years so that at the expira-
ton OF the thirty year period thu
entlre purchase price and interest
she'll have been paid. and the IN
tersst rates shall not have exceeded
3 Per cent. This will make It
possible for . young men who de-
sire to make . start in life ana to
secure q home to pay fori I out Of
the ptocesds derived from the land
In small annual installmsnts spread
ovor asalarss number 81. years. With
ont no. much hArdship TO the pur-
chaser OF their, families. The plar
% safe bsoauss. the state would
give aseontfact Of 1ale and hold the
AnAn ~ fauAr-AUf1 49,. A. 49,