The producers news., 1927-04-15

uer OdCe OF March 81, 1871, ne writes
an interesting letter to us in which he
says: THE McNary-Haugen bill was
certainly unsound, and l am glad it is
dead. AT best it would have given
but temporary relief, with inevitable
disaster to farmers and farm organi-
cations that backed it. This is an
lronlc condition, but real one never
thelesS." The statement above is
signed by William E. Zeuch, president
Commonwealth College, and we have
more just like it. Tell me, my friend
from Dagmar, why such an ardent
supporter of the present system as
you say you are; tell me why your
friends. have let the farmer get into
such deplorable state? You have
had the complete management of this
country-domestic and foreign for
tlfty years. Yes, seventy anyway for
the system you praise so high. Why
is the farmer in such deplorable
situation?
Now you speak very highly of the
Federal Loan system. The writer
knows something, little anyway,
about it, having represented a pow
erful farm organization at the time
we were striving for the law, and
being one who personally helped fin
ance a representative of farmers to
go to Europe to study European Loan
systems, and who through our agen-
cy at Washington city at that time
aid his utmost, for years, to secure
the passage of this act. And WE
GOT IT-BUT NOT what we asked.
we'll remember the remark of
Herbert Quick, first chairman of the
National Farm Loan Board made in
his office to me soon after the pass
age of this bill: ''You farmers will
have to fight like HE'LL if YOU ever
get much good out of this law. AL
ready plans are on foot to emasculate
what GOOD there is in the creation"
Well his words proved prophetic be-
cause now they have the law so that
the Farm Loan System never can
control its own affairs, because the
majority of the NATIONAL BOARD
NOW ARE APPOINTED AND ARE
OUTSPOKEN ENEMIES, MOST OF
THEM, of any control "BY IGNOR- |
ANT BOOB FARMERS" The lat
ter statement made to me by presi-
dent or general manager of one of
the regional land loan banks a few
years back.
But the Gentleman says he is get
ting money for five per cent, and it
saved his farm. Maybe so.
The writer helped form the first
farm loan district in this state-he
has two thousand loan in this svs-
tenn.
Do we get it for SO? Hardly!
First the loan bears 51a96 interest.
All right, 51a%o on what? 100 cents?
NO, 20 on 95 cents. Because ey-
eryone going into the Farm Loan svs-
tenn has first to buy for cash at par
oHo OF the amount of his loan in Farm
Loan stocks. He has to put that up.
Now In my case that makes, figuring
It up, nearly 1870 l am paving for
that loan---figure it yourself. Oh
yes out you say you get chat five
per cent back at last. Yes, but no
guarantee of any interest on it, and
N my case, and its nearly universal. +
The Farm Loan banks are holding
up and not allowing to be paid any
dividends that these associations earn
on the surplus of five per cent.
IL may be that my friend is get
ting regular dividends? If so he is
to be congratulated in being in
community, such as II'
know Dagmar to be, because its onlv
Nhen nearly the whole community is
-adlcal that the local farm loan asso-
cations have been kept in the line
hat is unable to pay.
But this is not all. They passed
md created, this capitalist congress-
ND administration that we have had ,
lnce its creation, system of Mort :
rage loan banks, with one purpose in
lew: TO PUT OUT OF BUSINESS
HE COOPERATIVE PLANS FW-
IN THE LOAN SYSTEM
As L have stated above: thew ALWAYS
un joker into the original. or If
l0t tnere create something to cruelty
Vi the good there may be left in the r
Measure.
am glad my brother feels this
aw was and is good, because it was
IS radical fellows, called such. and
ussed by most regular farmers for l
ur stand at the time. 1t was the
adlcals that put this law over and
IL farm-relief laws. Does nv friend
ecognize this? If he wakes up to
nat truth some time he will become
aGIcal overnight
Now In anything that was stated s
the interview it was not meant
nd could not be, that sometimes G
ONE one does get a benefit from t,
ach laws, but its the exception now
nd proves the rule. Y
VIII the brother tell me what voice a
has In appointing the national a
oard Will he tell us what he had
, 90 with making Jewett president
the Spokane bank, and will he tell
VINO the fellows mostly are who
ave the appraisers jobs for these
anks? '-'o'0
l said these laws are nothing but
lll-o-the-wisps to fool the farmer
or words to that effect-and I reit- 81
rate 1t: Let's get in and clean house
nd institute a system for and of the p
roducer, as against the present svs-
IN for and of the parasites. Every al
lrm aid law we have is administered
parasites, mostly Lets have a d;
lange, brother.
And, In conclusion, I wish to reiter- 2
'e my love for you and all other
'wn-trodden and abused country p
en-, and if possible l would make
'nditions better not only for YOU. but p,
lat weary and worn farm wife, and
we the farm children a chance TOO.
D nleaSe accent thn hnra &c ell Il