The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1923-05-30
Frank Cldgue
Talks to Bankers
H. A. BALDWIN MADE VICE
PRESIDENT OF SECOND DIS
TRICT GROUP AT MEETING.

A successful meeting of the Sec
-ond Disctrict Makers was held recent
ly at New Ulm and was well at
tended by representatives of Redwood
County Banks. HI. A. Baldwin of
Redwood Falls, who served efficiently
last year as the secretary of the Dis
trict Association, was elected vice
president of the Association, this cleo
tion putting him in line for the presi-
dency next year. j. j. Maloney of
Heron Lake is the president for the
coming year.
The twO-days program was full OF
informative talks by number OF
prominent bankers, and others. One
of the chief addresses was delivered
by Congressman Frank CIague Of Red
wood Falls and the Brown County
Journal, published at New Ulm, gives
the following account of the address.
"In a short and succinct address
Friday afternoon Congressman Frank
Clague of Redwood Falls advocated
greater economy be practiced in gov
pal divisions in building of extrava-
giant and elaborate public buildings
at this time. He took decided stand
against unnecessary voting of tax
free bonds issues and favored congress
sional action in establishing a rea-
sonable price for the essential farm
products, such as wheat, corn, oats,
and barley to hasten rapid return
to prosperity in this basic industry.
"The address was one of interest,
to those present and full of good
sound information and advice as to
the farmer and the land owner.
Before giving the question of stabi-
lizing the prices of farm products
much study and thought Mr. Clague
stated he was not so much in favor OF
a procedure of this kind, but the
more he thought about it the more
convinced he was that the farmer
should have the price of his pro-
ducts stabilized as well as those en-
gagged in other lines of activity.
He mentioned railroad laborers,
carpenters, masons, school teachers,
and in fact those engaged in nearly
all lines of activity. During the next
session of congress several bills will
be presented for the purpose of stabi-
lizing the prices of grain. Just what
will be done, do. not know, but some-
LuiiIS ouOulu US accomplished IL Lie
farmer is to operate his farm at a
profit he stated.
During the course of his remarks
Congressman Clague called attention
TO the high taxes on farm lands, es-
pecially ditch taxes, and prophesied
that if the present high taxes con-
tinued in time there would be one
third less farmers and two-thirds less
land owners. In many cases the
speaker stated the taxes on land was
as high as 81 per acre and where
consolidated schools were operated it
was So per acre in some instances.
congressman Clague explained he
had complained to the board of di-
rectors Of the federal reserve bank
concerning the high rate of interest
paid upon certificates of indebtedness
by the government. A recent issue
was disposed of for four and three
fourths per cent. He stated he had
had conference with the board, and
that John R. Mitchell, former member
from Minnesota, was against such a
high rate, but that President Harding
of the board was in a different frame
of mind as were members from the
south.
Congressman Oague opined that
as long as the government paid this
high rate for certificates of. indebted
ness, which were nontaxable, there
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