The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1931-12-03
FARM LOAN GROUP
ASKS LOWER FARM
MORTGAGE RATES
COmmends HOOver's Request
that Congress Provide
Strengthening Funds
100 AT MEETING HERE
Wants Rates on Outstanding
Debts Reduced to Aid
Farm Situation

A resolution urging congress to
strengthen the capital structure of
federal land banks so that farm
mortgage loans may be made at low
er interest rates passed by a
unanimous vote of National Farm
Loan associations of Southern Min
nesota here Friday.
The resolution commends the action
of President Hoover in urging Con-
gress to provide sufficient funds to
place Federal land banks on a sound
financial basis so they will be able
to sell their bonds at the same rate
of interest as Government bonds bear.
This, they conclude would permit the
federal land banks to loan money on
farm mortgages at lower rates of in
terest than at present.
Copies of the resolution will be
forwarded to the Governor Of Min
nesota, the United States Senators,
Congressman of the state of Mime
sofa, several of the National farm
loan associations of the state and 70
the agricultural and daily press.
Oavert Main Speaker
S. B. Duea appointed Charles
Goodyear to act as chairman Of the
Friday session. He opened the meet
ing by introducing William Cavert,
state extension economist from the
University farm, who was the prin-
cipal speaker. Sam Rask, Blooming
Prairie, who was scheduled as another
speaker, could not attend.
Mr.. Cavert used many charts to
show increasing and decreasing tax
es, explaining farm tax increases
since 1910. Farm taxes are the last
thing to go up and the last thing to
go down." he said, "ten to twelve per
cent of the taxes go to the state gov
eminent and the rest goes to your
county and township"
He had chart Of the war debts
and prices of commodities during
war time and gave the price changes
from after the war until 1881. AS
remedy for hard times, the economist
said that the national and state gov
ernments need more money to refin-
ace the farmer and put him back on
his feet.
After Mr.. Cavert had finished his
address, a general discussin was held.
A motion was made by c. ii. Gillin
to have the chair appoint committee
of five to draw up resolution. The
chosen included C. H. Gillin, Pipe
stone; C. T. Dahl, Madelia; John Ed
erer, Morton; George Claussen, Red
wood Falls and Paul Alsaker, Benson.
S. B. Duea gave a talk on federal
land banks and had Mr.. Gillin read
the resolution which was drawn up st
Window at a Farm Bureau meeting
few weeks ago.
A. M. Dennistoun talked on the
work of the American government on
this side of the Atlantic and on the
other side and closed his address by
saying, NThe government should help
on this side of the water more than
those on the other side" C. c. Christ
ensen, John Hines of Delhi and Mr..
Reynolds of Sheridan township talk
ed on the bank situation and Thomas
Offerdal, secretary Of the farm loan
association at st. James, answered
questions on mortgage rates.
Committee Reports Back
The resolution which the committee
had drawn up was read on its return
to the meeting by C. H. Gillin, one
of the committeeman.
The resolution, which was adopted
unanimously reads IS follows:
Whereas, The largest share Of farm
(Coutiuued on Page 12)