The herald-advance. (Milbank, S.D.) 1890-1922, 1920-10-15
McMASTERS SPEAKS
TO LARGE AUDIENCE
Candidate for Governor Please!
Crowd with Mastery Address.

I1tSulSUdJIt NoNc! tOf "" II. ANN-
Masters, the Republican candidate
for governor, spoke to a large audi
ence in the opera house last Thursday
evening. He gave them an astounl-
ing array of facts and figures regard
ing the cmplishments of the adj
ministration during the past term und-
Ell the Norbeck McMasters leadership
and pleaded for the united support of
the Republican ticket which would en-
able that party to carry out the plans
for the future.
The following are some Of the high
liyhts of tie candidates speech:
"lTnder republican administration
composed largely of farmers, South
Dakota has been trying to go just as
far in the direction of helping one
another as it possibly could with salty
Before there was any serious thought
of tie Federal Farm Loan system be-
ing established, South Dakota decided
to take a step forward by going into
The farm loan business. Agriculture
Is the main industry Of South Dakota
Our state. like every new state has
been held back greatly in its develop
ment By lack of sufficient capital. The
rate OF interest to farmers was from
seven to ten per cent. with commits
~ions added ard even ut these high
rates it was often difficult for farmers
to borrow 1t was Governor Norbeck's
contention that the state ought to use
it, credit to help its people. He beiev-
ed that the state had right to go
into business in competition with pri-
vate enterprises where the state would
have material advantage over the pri-
vate business in serving the public, but
the state must lave material adj
vantage or it cannot compete success
fully with private enterprises.
"A fter a long campaign of educa-
tion, the people of South Dakota voted
a constitutional amendment permit
ting the establishment of the state
farm loan plan. Under his plan the
state borrows the money which it lends
to the farmers, horrov,s it outside the
state from men who will lend .heir
money to a state cheaper than they
would to an individual. TIE plan has
worked out successfully and with the
utmost simplicity. There is no red
tape about it, it is Just as easy for (,
farmer to borrow from the state
through this plan as it would be for
him to go to his bank and borrow.
Under this plan the farmer gets all
he borroWS there are no exchanges or
com missions, no expenses for aSsocia-
tions for appraisemerts. nothing
whatsoever except tie farmer fur
nishes the abstract rowing good title
The plan has been in operation close
to three years
"The first year lbs loans were made
totallng S4.l39.35O. The second wear,
3,02E loans were made totaling s12.-
2S3,l79. Since then the total number
of loans have been brought up to
6.6"l, and the total amount loaned to
ST ,126 200: in other words tie busi-
ness of the board has now reached the
amount of about one million a month.
1t is remarkable fact tat out of
$50! loans only twenty-five men are
in arrears of their payment and that
only for a short time. One OF these
slelinquents broke his leg last year
and the board will give him every
chance to make his lapsed payments
which he will do soon. The others are
mostly in a section in the extreme
northwest part of the state, which
was unusually dry this year. They will
all pay out in due time
"ln addition to this very meritorious
measure, the progressive republicans
placed npon the statute books a Sol
diers Land Settlement bill, an act
pa ;sed for the purpose Of giving spe-
zcial nssi@tarcc to rturned service |
Qen in securing farms and equipping
same, fund OF one million dollars
was provided for this purpose, work
ing in cooperation with the rural
credit plan
y kai! insurance law was passed, |
providing plan by which the farmer
conld secure his hail insurance at ac-
tual cost. This plan has saved 81 ,O32,-
900 to the farmers of South Dakota. |
THE law provides that every farm
~ w snSNI W Tie CALGUl vi Ills 1
acres. Th. law has a special
feature by which any farmer may, by |
tling a written statement exempting |
himself in whole or in part from the
provisions Of the law He may decide
that he wants hail insurance only on |
his small grain and not on his corn, Il |
So that is his privilege. You will not :
that under this provision the state
has saved farmers a large sum of !,
money and in addition has provided |
them with insurance, quickly and sat-
isfactorily adjusted
The recent Legislature has provided /
for the expenditure of twelve million
dollars on system Of 5000 miles Of |
state highways. Much cement material
will be needed for this work. The raw
materials from which cement is man
ufactured are plentiful in this state