The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1921-02-18
SAYS LOAN BONDS
ARE UMASSA|LABlE
SUIT IN SUPREME COURT HOLD.
ING Up THE FARM LOANS AS
CLASS LEGISLATION
(Ry l. E. Finch, President of the
Sumatra Farm Loan Association.
Sumatra, Rosebud County, Mon

tEy l. E. Finch, President of the
Sumatra Farm Loan Association
Sumatra, Rosebud County, Mon
tana.)
Practically all Of our people are
aware of the suit brought by the
Farm Mortgage Brokers' association
to declare the federal farm loan
bonds unconstitutional on grounds
that the federal farm loan law was
class legislation, for the reason that
while the federal farm loan bonds
arc untaxed by the governments and
pay no revenue into the public treas
ury, the bonds of other public and
private service corporations are
taxed by the government and pay q
revenue into the public treasury, and
olso on the further grounds that the
act is unconstitutional because it ia
vOrs one class of people that is. the
farmers alone.
1t should require no specious or
extended argument to prove that it
lies in the province, or power OF
governments to declare that COM
n.odities shall or sail not pay a tax
or taxes into the public treasury
And to prove that this contention is
right it will only he necessary to
quote the fact that government has
always reserved to Itself the right to
lay a tax upon certain commodities
or to refrain from laying tax upon
certain other commodities. Section
s, clause I, of the United States
constitution provides that this power
lies with the congress of the United
States, and congress has always con-
sistently followed the provision of
this ection of our contltution, and as
an example it will only be necessary
to quote the various tariff acts as
have been passed b! the different
sessions Of congress since our coun-
try has had constitution. In each
and every one OF these different
tariff acts congress has provided thot
some commodities snail come into
the United States free of tax or
duty while other commodities shall
pay into the public treasury GER
tain per cent Of their value as tax
certain sum or sums of money as
revenue for the Use OF the United
States government. Well, then,
bonds OF any class or grade, whether
public or private service corporation
bonds, can, at the will Of congress.
be taxed to provide a revenue for
the use OF the government. or On the
other hand. if congress so decides
that it would be 10 the best inter-
ests of the general .",blic as whole
to refrain from taxing certain
class or kind Of bonds, and the con-
gress so declares, II naturally fol-
lows that such acts OF congress are
certainly constitutional and valid,
and therefore unassui'ahle.
A constitution is the organic Or
basic law of state. The ground
work upon which the whole super
structure rests. 1t is the lmpres-
nable fortress that stands between
the liberties of free people and ali
those powers OF evil that are con-
seeking to destroy the Cod
given rights of the masses. Now II
should always be borne in NINA AT
all times that bonds are commodl-
ties in every sense OF the WORD. anu
thus subject to all the defined ana
laws Of commerce ana
laws that apply to the taxing ot
steel. glass, diamonds to-
bacco or liquors. also apply IN a
greater or lesser degree to bonds.
The next contention of the Farm
Mortgage association OF the brokers
is that the bonds a:c unconstitutioh-
al because they favor the farmers
alone. This contention we absoi"te-
" deny and can present many rea-
sons therefor, ameng which are the
First, that agriculture Is
the basic and also the greatest lh-
dustry of the nation. Upon our az
riculture rests the prosperity anu Tue
HAPPINESS of the whole structure Vi
society, Without agriculture there
can be no life, no developmet. no
progress and no civilization. Win
out its sustaining power the Mho'e
world would soon sink into ooi\' 'ou'
and chaos would reign supreme
With such facts self-evident, now Ia
lacious and chimerical is the conteh,
ton of the Farm Mortgage broFers
association, that helping the farmers
is class legislation! All know po,n
reason and facts prove the oppos'te
to be the case. Relief for agrlc"i-
ture means relief for all other ln-
dustries. Relief for the 1arhei
means a tangible return OF vaiue 10
each and every one CT our citlzehs.
Money for the farmer means money
for all, and no one who is not 1901
or who wishes to profit financially
and selfishly at the expense OF ana
to the detriment OF all OF our clti-
zens would have tho gail to try 10
claim otherwise. Second, the fed