Evening star., 1925-02-13
Should Aid Home BUYERS.
Writer Commends The Stars
Example to Uncle Sam.
To the Editor'of ThesStar;

To the Editor'of The'star:
j quote. in pact, an editorial of The
star OF February Z, 1925:
why should not Uncle Sam follow
the example Of other employers, in
GLIDING The Star, In helping his en-
ployes to Obtain homes of their own
by financing them In the purchase of
house. so thatthey may get a long
| term. low-interest nrst trust. and a
| second trust. II needed. at reasonable
interest and without commission
rs Uncle Sans only solution of our
housing and high rentals problem to
refrain from constructive legislation
ana beneficial action as employer
which will give Washington the
greatly enlarged supply of compare
lively cheap housing which the city
Can nothing wiser by devised than
| a renewal Of the bitter struggle for
possession and control of rental prop
erty between owners and tenants. the
| latter backed by powerful, punitive
Rent Commission and the former re-
lying upon the Americans constitu-
tional bill of rights and the Supreme
Court Of the United States?
This warfare follows a vicious cir
Gle OF retaliatory reprisals and
threats of reprisals. 1t is hurtful in
the last degree to the welfare Of the
Capital community as a whole. The
Legislative wisdom of Congress should
contrive to avoid IT,"
On January Is. 1922. the writer sub
mitted to the President of the United
States. the Commissioners of the Dis
trict OF Columbia and the Rent Com
mission a plan for the purchase of
| land and the building of homes for
home buyers and home builders in
ID .s,rx n -
editorial ! have quoted prompts me to
send you the communication above
referred to:
Plan for Home Building and Home
Buying in Washington, d. c.
Preamble
III the Farmers Loan Banks have
loaned to the farmers of the United
States $500. 900, 900 tsI 500. 600, 600
| now, more or less; If the Federal
Trade Commission has loaned mil
lions upon millions of dollars to man
ufacturers. II the director of railroads
has loaned to the railroads several
| hundred millions of dollars, if the
War Finance Corporation continues
to loan millions of dollars, there is no
reason why loans cannot be made
through the Federal Reserve Bank
system, direct or through newly
created corporation under its SUPER
vision, or bonds could be underwrit-
| ten. principal and interest guaranteed
by the United States Government, and
the bonds offered for sale in the open
market and the money loaned 10
home builders, home buyers of Wash :
ington, D. c.. and the citizens of the
cities Of the States. II needed.
1T is seriously suggested by inter-
national bankers that a billion dollars
or more of the reserve banks billions
In gold be now sent to Europe to in
vest In European bonds so as to re-
lieve European governments that now
owe the United States 12 billions of
dollars, principal and interest These
Things being true, why cannot the
United States Government, direct or
through the Federal Reserve Banks.
come TO the assistance Of American
would-be home builders, and prospec-
tive home owners.
Plan for Purchase.
The lot for the home TO be selected
by the home builder. That the as
| SCISSOR OF the District of Columbia de-
termine fair price for the ground
to be bought. That plans for build
ing. cost, etc, be submitted by the
builder and approved of by the archi-
tect of the District of Columbia, or
the architects Office of the United
states Treasury. That no land syn
dicates of the District of Columbia or
elsewhere. syndicated builders, do
mestic or otherwise, be permitted to
farm out their lands or row. built
houses to prospective home builders
or home buyers. That no part of the
money to be loaned to be used to buy
houses, in Washington or elsewhere,
that had been held out for sale and
not for rent during the World War
and are still held for sale and not for
rent. That the home builder give a
series OF notes or obligations, with
out tndorsers, payable monthly at a
local bank or elsewhere. That these
notes or obligations shall be partial
payments Of principal and interest and
be of such amounts as can be easily
and readily met by the home builder
That in the event the home builder
cannot, owing to death or otherwise,
after one year, meet his payments, he
shall be returned the full amount of
said payments, with interest thereon,
the home then offered for sale to some
other home buyer only. That s20,-
100000. more or less. be furnished the
home BUILDERS of Warrington, D. c.,
and of the States upon request, either
directly through the banks of the
Federal Reserve Bank system or by
sale Of bonds through corporate
body, payment OF principal OF said
bonds and interest. II bonds be issued.
be guaranteed by the United States
Government or such other financial,
fiscal agent as the Government or the
Federal Reserve Banks may desig-
nate" w. E. RYAN.