The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1919-07-11


them replaced. Often the bonus and
commission amount to more than
the legitimate carrying. charge.
This form OF financial profiteering
Is Ubiquitous and should be discon-
tinued by municipal. state and fed
eral authority, as II strikes at the
vitals OF American life--the rearing
OF children on one hand. and the
young people who are just establish
ing. or attempting TO establish them
selves. on the other. In both in
stances the victims are not circum.
stanced TO meet the pressure.
While the security should be am
pie. buying should be facilitated by
"a A small but continuous amortiz-
alton OF the loan.
GU Careful supervision of construc.
ton.
90 A low interest rate.
az BY making the amount of the
original loan high enough TO avoid
the necessity for a second mortgage.
Protection Of Loan
These features are possible In such
legislation as the proposed Home
Loan Bank bill, which sets up an In
surance fund against mortgage
losses. Where the insurance is on
pooled mortgages the funds need be
ample enough to meet only the FEW
instances OF defaulting.
When enterprises of this character
are undertaken and the original con-
struction costs carefully supervised.
the interest rate low. the bonus and
commission eliminated. the amortiza-
ton plan provided. the operation OF
the latter soon makes the security
OF unquestioned soundness. espe-
cially IL the municipality cooperates
in the maintenance OF the community
character.
MUNICIPAL PROTECTION OF
THE CHARACTER OF THE COM
MUNITY il necessary to meet the
objection OF the average man who
is hesitating to own his own home.
He feels his property may not be
negotiable because the city In which
1t is located does not protect IT
against the deterioration worked on
the community by undesirable en-
vironments. After all. a man buys
community life for himself and fam
lily as well as a sheltering roof.
Keeping Up Values
Municipalities should recognize
their responsibility in this field and
cooperate In restricting the en-
croachments of undesirable struc-
lures, such as factories. business
houses, livery stables. etc, which
quickly destroy the home character
Of a community and render the home
property in the locality unnegotiable.
The municipal responsibility goes
farther than mere restriction. II
should build community centers for
both young and old. Fairgrounds,
schools, park, keep the highways In
condition and the transportation fa
cilities adequate.
This perpetuation of the home
character of the environment and
the community spirit is attempted
by private real esate developments,
so called. but they can go only part
way in the matter. II municipal
ties insured the community life and
UTtStT Ntu lflt nDfflt VI viz
locality. the home property would be
negotiable and the appreciation in
value would offset the carrying
charges
WE MAY REAP SOCIAL STA
BILITY AND INDUSTRIAL Eff
FICIENCY IL private interest, in the
first instance. and governmental
agencies in the second, will do these
two things to encourage home own
ing.
The great need for home, after all.
Is that. as our industry becomes
more specialized and our processes
more repetitive, the human mind, as
well as the body, requires the bal
ance Of home activities.
The garden, the flower beds, the
interest i'm the prize tome toes, the
little workshop in the cellar are divi-
dend paying by.products in home
owning. 1t is making the little
cigar-box cabinet, or attaching the
motor to the sewing machine which
gives the man the balance for the
next days problems and the interest
In these things differentiates the
home owner from the renter.
That Is why you should own your
own home; keep your mind and body
out of the rut, get the mental bal
ance incident to a diversified mental
activity.
That is why the city, state and ma
ton should be vitality interested in
home owning. 1t assures "A harvest
of social stability and industrial eff.
ficiency. II carried far enough IL
means we shall be embarrassed by
no Bolshevlsm nor extreme radical
ism.