The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1919-06-09

Is the United States to become q
nation Of home owners or q nation OF
tenants?
That is the vital far-reaching
problem, striking at the very roots OF
the home life Of America, that con-
fronts the Sixty-sixth Congress to-
day as it prepares to grapple and
solve the stupendous reconstruction
program OF legislation for more than
a hundred of millions Of people.
own your own home" is the slogan
that for years has been Haunted al
luringly before the eyes of a great
majority of these hundred million
homeseekers; Haunted with but little
hope of achievement in the faces Of
so many thousands who are seeking
in vain an avenue Of escape from the
inevitable burden Of monthly rents.
Now comes the Department Of Labor
with an apparent solution in the
form of a comprehensive financial
scheme that promises fair to hold
out to these wage-earners and people
of very moderate incomes the hope
that has been denied them during
years of struggle with the high cost
of living.
Senator Callers Bill.
Senator William F. Calder OF New
York, himself a real estate man and
builder, has taken the first step to-
ward the enactment OF a law that
will afford this relief. On behalf of
the Department Of Labor he has in
troduced in the Senate a bill to pro-
vide for the establishment of a Fed
eral home loan board and home loan
banks to encourage and enable the
IF small hniId h1Tyy
the roof over the heads of his family.
few years ago Congress came to
the relief of the poor tenant farmer,
establishing for him through the
medium of the Federal farm land
loan act a sound financial support
whereby he could escape from the
tenant farmer class. To the city man
OF similar means, whose cry Of dis
tress was just as urgent, Congress
turned a deaf ear. leaving him TO the
limited means OF building and loan
associations in the city where he
lived. Valuable and encouraging as
The assistance afforded by these as
sociatiOns has been, their means are
inadequate TO reach the majority who
desire and need the opportunity that
they present.
AS the Federal farm land loan act
put AAAt Flidil ltlldHl FARMER on MS
feet, so the Federal home loan board
proposed in the bill introduced by
Senator Calder. will give the home
seekers of the city a lighting chance.
If il becomes a law. The real pur-
pose behind the bill is to make avail
able for immediate building a great
part OF the $4,000, 100000 Of good assets
held by these building and home as
sociations. 1t is proposed that the
Government license these associations
to form group organizations or local
home loan banks, with which the peo-
pie may deposit their mortgages and
receive long-term loans upon them,
the funds becoming available through
the issuance by the district home
loan banks of salable bonds against
mortgages deposited.
Like Farm Loan Plan.
The Federal farm land loan act,
now such a tremendous factor in the
farm life OF America, and Senator
Calder's proposed law are Identical
1T principle and follow closely each
other in the manipulation Of financial
machinery
After the civil war the homestead
bill greatly encouraged the establish
ment of settlements and of homes in
the West" said Senator Calder. The
shortage of housing brought about by
the world war has again centered ma
tiOnal attention on the necessity of
homes, both rural and urban
I'm the final outcome we must
either be a nation OF home owners or
nation OF tenants. 1t is said that
in France so per cent OF the popula-
ton live in their own homes, while in
this country, according to the 1910
census, only IS per cent occupy their
own homes: probably at this time but
AZ per cent are home owners. while,
according to the census OF 1890, As
Fer cent were home owners
These are indeed ominous figures
for a nation governed by majority
rule. \ wider distribution OF the
ownership OF real estate, with the in
terest and the responsibility incident
to such ownership, more than any
other factor tends toward the better
ment OF our national citizenry.
1.-The building and loan associations
o. the United States" continued SEN
aIor Calder, have encouraged saving
for the purpose OF home owning. I
am told that these associations al
ready have some three million mem
bers and have some seven thousand
branches. These branches are admin
istered by men of high repute in each
who, in the big brother
attitude, give their services to their
fellow countrymen."
Senator Calder said that the COM