The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-13
HIDDEN FROM TAX
Millions Go Untouched Under
Farm Loan Law.
A. E. Van Petten of Topeka At
tacks Features of Act.

Much propaganda and advertising
has been put forth thru the public
press about the federal land loan bank
law, but some things about that law
have been carefully CO 1cealed and the
public is entitled to know Them" A. E.
Mortgage company of Topeka, said to-
day.
Van Petten said:
'aThe Federal Land Loan Bank law is
ezen and ~ po6t nn its ev dca
an attack on any mans business, but a
defense Of our rights as American citizens.
The American people have been SO in
tent in the last three years, on trying to
win the war and at the same time make
ends meet, that they have not taken time
Loan Bank law has done to them.
They have the one idea that the farmer
is to get money at 51s per cent and be1iev-
ing that to be a good law, they have gone
no further into the matter.
THE fact of the matter is, congress ap-
parently. was SO anxious to do something
that would mean votes from the farmers
and still hold the influence of the rich that
there was written into that law provision
that Is beginning TO work vast and grave
injustice upon the taxpayers of the country,
and it is this part of the law that the peo-
pie everywhere are just beginning to IN
derstand.
"That same law which provides for
lending money to the farmer at 5h per
cent also provides that these notes shall
not Dear taxes Tor any purpose Whatever.
The war created in America over 10000 new
millionaires in addition TO those we already
had.
No Taxes On Millions.
"Their multiplied millions which have
come out of the needs, and the blood and
sweat of the nations best men and women
these same millions find in the Federal
Farm loan notes a rich and rare invest
ment. They can buy them by the hundreds
of millions and are doing 1t and when
their millions are tucked away in these
farm notes, all Of that money passes for
twenty years out of taxation. No. city
No school taxes. No federal taxes. Nc
income taxes. Free Is the air. Just collect
the interest, spend it in luxurious living
means. bend their backs under. a yoke OF
OO0OOO,OOO in taxes to run the govern
ment. Taxation has increased 500 per cent
1t is true our full proportion of this five
fold increase has not reached us vet, but il
IS coming. As wealth hides itself away in
the Federal Farm loan notes at Az and
per cent, as it is doing in hundreds Of
millions which are rapidly increasing the
burden will become heavier and heavier
upon labor. production, business of al
kinds and upon the consumer, until finally
every man, woman and business in the
nation will find taxes increased all around
men escape taxation by buying these farm
notes, the proportion the rest of us have to
pay will grow bigger and bigger.
Cost of Living Goes Up.
Transportation, raw materials, the fin.
1shed product and all living supplies will
have to bear the additional burden. Hief
cost of living will have to go higher while
we groan under the loan, which is alread \
almost intolerable. - :
when the farmer who now pays 500 &
year taxes gets to paying $500 year
which is sure to come under the present
system, he will think congress PLAYED +
monumental and back breaking Joke upor
him and that is just exactly what congress,
has done. The farmer will find that 81
per cent on the face of his note does. mo-
mean that at all, but means that thru this
apparent benefaction he has been made one
or the goats to bear away the sins of the
millionaire who got his millions out o.
wars needs ana distresses.
THE thinking man will not wait unit
TWO or three billions of the national wealth
Is hidden away from taxation for twenty
years, while the rest of us pay taxes on oul
liberty bonds and every other conceivabl
possession under heaven. except our wive,
and children. but will get down to the ioI
right now to convince our senator's an(
| representatives in congress that they've lie
congress put one over. on the American
people.
This and other parts of this law ar
class legislation, pure and simple, and tn
class most benefited is not the farmer. 70
| only per cent of the farmers avail them
selves of its provisions, but the benefite,
| class is the millionaire class who buy thes
| notes and thereby escape their, just an,
lproportionate part of taxes.
AS the farmers themselves see tbei
taxes mount upward and find the 51A pc
cent note is not benefiting them, they vii
demand change in the law"