Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-10-14
MEMBER OF THE ASSOCIATED
PRESS
LOOSEN MONEY FOR BUILDING


Every large town in New Mexico Is
calling for erection Of more homes
The local press states that many per
sons arriving pass on for lack of shell
Tor, The cost of material and labor
prevent building to the full needs OF
the people. as persons who would
build as investors to rent or sell for
profit. fear a cheaper building era
later would cause income from
houses constructed under present con-
didons, to decline.
But another deterrent feature is the
inability Of residents who would build
homes for themselves, to borrow
money for such purposes from banks.
Building and loan associations in
some places are Of aid, but their abiI-
ity is limited, and competition for
available funds sometimes puts bur
den ON the successful borrower,
Local capital in banks could hardly
lie applied to better purpose than in
aiding Industrious citizens to acquire
homes. There is permanent benefit
in giving stability to town, by MAX
ing it's people contented and supply
ing incentive for thrift decreasing the
restless spirit and reducing waste OF
money sent away for unnecessary IN
dulgences or expended in gadding
over the country by members of fam
lilies who could better use funds IN
paying for and improving homes
The Journal has no means of know
ing. but assumes that the majority OF
Albuquerque railway shop employees
who but recently voted against strikes
were family men and home owners
The home and family are anchors that
serve to steady man when the indus
trial storms agitate the industrial cur
rents making him less willing to take
risks of having to move to another
community to find employent
"The home is the savior of the ma
ton, and men who own their own
homes do not think of Bolsheysm'
I. w. W.ism and kindred diseases
spreading over the country" was one
assertion Of Seattle man in address
ing the American Bankers associa-
ton at st. Louis lie advised bankers
and financlers generally to back NJ
the nation by making loans to home
builders.
There should be no scuttling of the
financial bark through unwarrante{
setting aside Of safeguards to invest
ments but a modified insistance OF
marketable securities for loans, to
Eether with n higher appraisal value
Of the moral integrity of the pros
pective borrower can be justified. II
other words, if bankers are to eXpan'
loans to the average man for home
building or homecoming, with
view to creating the degree of char
actor which comes with the response
bility which property owner feels
they must put an adequate value o.
il. They would not have to do muo
creating, elthef. me asst VI Iiie'' az
ter is widely possessed in the Unite
states. The moral hazard involved j
loaning to people seized with the am
bition to own homes is almost neglig
BILE.
Is there Just reason for believin
that business men of proved char
acter and established reputation al
safer risks in the money market tina
would be thousands Of less conspicl
GUS individuals whose earnest desil
is to own the roofs that shelter the
wives and children? We think II
negative is demonstrable,
At all events, the experiences
tradesmen doing q credit business,
most all do, should be something of
guide to the bankers. We believe tn
it would be Iconvincing Of the rig
of prospective home-oWners TO Il
more liberal credit in order to acqui
property than they are customari
granted.