The Washington herald., 1921-02-27

Yhile the general impression is
thatsthe housing shortage is grow
ing daily more acute and politicians
strengthening -stupendous efforts
to swing the lawmakers of the city.
State and nation into a huge move
ment for home protection. a simple
and highly effective means for
solving the entire problem seems
to lie close at hand. says the New
York World.
This. at least, is the conclusion of
varfohs realty experts who have
marian exhaustive investigation
of fhe situation. They say that an
Immediate cure for housing troubles
lies waiting for prompt use in the
hands of the people themselves.
Compulsive and restrictive laws
do more harm than good. Capital
is afraid of all new legislation af-
fecting its free agency. If there had
not been so much agitation over
the housing crisis more money
would be available now for resi-
dentiah operations, according to the
testimany of prominent leaders and
banksrs- Capital has been fright
ened away from the mortgage mar
ket and there can be no great home
building movement until money
can be obtained by the builders on
mortgages at reasonable rates.
Money Only Factor Lacking.
Now that building materials have
come down to fair prices and there
Is so much labor out of employ
ment that plenty of it can be OBJ
tanned at rates which would not be
prohibitive, the only factor lacking
Ia money. This the masses of peo-
pie have. While wealthy persons
may be pinched temporarily by the
strenuous efforts of the banks to
debate war finances, the savings
banks report big increases in de-
posfts from the wage earning
classes and many other agencies
dealing with small investments OF
the masses show that they are
plentifully supplied with available
cash.
This lays the foundation for solv-
ing the housing problem. The idea
is to start a great Build-Your-Own-
Home and Own-Your-Home drive.
Home seekers should be urged by
unusual means to build or buy their
donaiciles- II they do not want to
do this, or have a surplus for in
vestment after doing 1t, they should
be urged to invest in mortgage
bonds which would enable others
less fortunate to borrow and buy
or build. -.
These mortgage bonds offer the
leverage for the whole movement.
Housing shortage has become ma
tionaI menace. Its correction has
becomsSa patriotic duty. The bank
ers are shirking II. Public-spirited
citizens should unite in a home
loan drive and conduct 1t in man
ner similar to the Liberty loan
drives The salvation of the home
for democracy is as important as the
salvation of the world for democ-
racy. In this housing crisis the
thingsto end forever the shortage
Of homes.
Machinery at Hand.
Investigations show that all the
machinery for this 'home-loan drive
Is at hand-and working. in a way,
but not being driven properly. 1t Is
not efiicacious in correcting housing
conditions because the people whose
money should push IL along do not
understand its workings
The immediate aim Is to get the
masses with money to know what
this machinery can do, and to con-
vince them that it Is worthy of their
fuiL confidence.
Small deposits in the savings
banks draw only 4 per cent in
terest. In Liberty bonds. even. they
dreE but little more. In other
places, the attempt to get more is
apt tos put the principal In danger.
But Ia honest mortgages on real
eststetthey can draw s per cent and
be scared by the very best col
lateral obtainable. Bankers and
legislators have recognized this
over long period of years, and
their sets and laws have beer franz
ed accordingly. Let the masses
with money realize this and be Inv
duced by responsible public COM
mfttees- TO place their savings In
homs-ioan bonds as patriotic