Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-06-30
F~ORECLOSING A
LOANS

WE think it was a mistake to lend
the permanent school funds
of the state out on farm loans.
For that mistake the legislature
was to blame. In fact we may say
that the people-all of us-were to
blame for that mistaken policy.
The money was not our money.
It never came from the taxpayers
pockets. It came from a trust en-
dowment. 1t was merely in our
hands as trustees for the schools
of the state. Some of these loans
are bad. The money will probably
be lost, or a part of the loan at
least. But where the farmers who
borrowed this money are remain
ing on the farm and making an
Honest effort to pay up these loans,
we think the state is making an
other big mistake if it begins fore
closure proceedings. Where the
borrowers have abandoned the
country and given up trying to pay
UP tn. Ease is of course different.
There seems in most parts Of the
state good promise of a crop this
year, and many of these delinquent
borrowers of state money may be
able to pay up delinquent interest
and some part of their principal.
They should surely be given a
chance to do so. Even private loan
mortgage firms, are doing that in
their own interest. According to
the North Montana Enterprise pub
lished at Joplin, in Liberty county,
the state is now foreclosing mort
cages that might be paid next fall,
and thus depriving farmers of their
homes that they have struggled
hard to keep through bad years,
just as they see light ahead for
them. 1t says:
1T looks like the state register
ard other officials at Helena are
taking the bull by the horns and
are seeking to deprive the farmers
who have state loans on their
farms. This department has some
forty foreclosures under consid
Grafton in Liberty county and some
of our best farmers are among the
Iist-rncn with families, and who
have worked hard and gone through
a lot of hardships in the past five
years to try to keep up their homes
Some Of these families have &C
tually suffered from the want OF
necessities, and in other families
the wife taught school or worked
out in order to support her family
or the father found work and con-
tributed what he made to buy ac'
tual necessities of life. All of
these d%eprivations were gone
through in order that they could
keep the home that is so dear tc
them. The land department and
state officials at Helena are in the
position to know the true condi-
ton Of the farmers of this county,
and should realize that these met
want to pay their interest and
principal, but owing to the tive
years drouth and the damage done
bv the cut worms, it has been ut
terry impossible for them to pay
the state anything. The state Off,
Gals are familiar with the fact thai
the government came to the relief
of the farmers this spring, ane
every farmer put in as many acres
to crop as his means would permit
With the proceeds from this CROP
he expects to harvest in about
ninety days, the farmers will pay
what they can on these debts, ane
the state officials know this, YET
they are going ahead and will pile
IN thousands of dollars in costs
II -k.ese h~ard-pressed tillers of The
soil, and accomplish nothing be
You'd giving the lawyers a lot OF
fees.
During this year the state Dor
rowed q million dollars to put i
On 4 rood financial basis, when II
reality it only owed some five hun
bred thousand dollars. The sat-
had deposited with the various
banks of the state at the time tn
loan was made some six hundre
thousand dollars that was drawing
a two per cent interest. while tn
state was paying a six per cent in
terest on money it had borrowed t.
accommodate the banks. To hav'
withdrawn this money from tn
banks It would have meant ruina
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