Sharp County record., 1919-04-18
ANSWER FROM Ben YATES
Did Not Support Bill To Resubmit The
Constitution-The Interest Rate.

| Editor Record nOtlce IN the
issue of your paper OF week before
last, which from some cause did
not reach WillifOrd until this last
week, an article signed "A Reader,
lin which the writer says he has a
friendly difference with me for two
votes cast in the last legislature,
one against reducing the rate OF
interest from 10 to8 per cent, the
other for voting to resubmit the
new constitution to be voted upon
again.
Referring to my vote on resub-
mittine the constitution, will say
that the reader has been niisin-
formed. voted against the bill, as
the house journal will show, and |
am sure that if the reader will take
the time and trouble to inquire
among the members of theelegisla-
ture and the lobbyists about the
state house during the last session,
Of whom there were plenty, he will
become thoroughly convinced that
II did not only vote against feslb-
mitting the new constitution with
Its 16 amendments, which myself
and a number Of other members OF
| the house could not get a chance to
see and therefore knew nothing
about the contents, but that ! was
largely responsible for the defeat OF
that BILL Mr.. Reader, | assure you
lit is a pleasure to me to be in a po-
sition to correct you on that vote.
Now, the bill to reduce the rate
of interest from 10 to 8 per cent
and which the reader says the ed
itor of the Record had made so
plain in a previous editorial, voted
against The reduction Of the rate
of interest was not an issue In the
last campaign, therefore when
that bill came up to be voted upon
| did not know the wishes of the
good people who had sent me as
their representative, but remem-
bered telling them on the stump
that when was not advised as to
how they wanted Inc to vote on
pending legislation ! would cast
such a vote as thought to be in
their interest. When ] cast my
vote on that bill | was only carry
ing out my promise.
The bill looked good on It's lace,
and he'd it not been for my long
years study Of what the results Of
such legislation would be, probab-
ly would have supported the bill.
There is a certain class Of men In
our state who would like to control
the money, prices Of products and
business of the country, Thet class
of men would have the common
masses solely dependent upon them
and had they been successful In
getting the rate Of interest reduced
they would have taken one long
step In that direction, 1t would
have, to some extent stopped mon
ey from other countries coming in
TO the state and leave no induce.
mcnts for the home money-lender
to hold his money in reserve to
loan 10 the man who borrows mon
ey In a small way and on short
time, Any money.lendef, from a
business standpoint, would much
prefer to loan his money In large !
quantities, and had the rate Of In
terest been cut feel sure that most !
Of the money Of the country would
soon have been loaned In that way
The bill did not compel the
money lender to loan bis money TO
any and everybody applying for a
loan, neither did II provide that he
would have to loan II at all. The
plentiiulness or scarcity Of money
will regulate the interest to some
bytgnt nq mndt MEN uka kavs idle