Evening star., 1932-10-21
ROOSEVELT OFFERS
FURTHER FARM AID.
Adjusted Tariff, Lower Taxes
and Mortgage Relief Stress
ed at Springfield.
Continued From First Page.)

peared after the trip to the Lincoln
tomb, cheers and applause echoed
through the big drill hall.
Every available inch of space was
occupied, with spectators standing IN
the aisles. The gallery, too, was filled
to overf1owing. The crowd was esti-
mated at 10000.
Text of Governors Speech.
The text of Gov. Roosevelt's address
In the Arsenal follows:
1t is good to be here with you in
Springfield, ILL.,, in the political and
geographic center CT this great State.
Three weeks ago I visited Chicago, rep
resentative of the industrial area of IL
linois Down here the problem Of Agri-
culture looms but, as have often said,
these two great interests are by no
means strangers, nor are they really
separated in interest at all. Each is de-
pendent en- the other to a degree often
overlooked in American politics.
I want to call to your attention 'One
of the aspects of the great American
agricultural problem. More than a
month ago at TCkepa, Kans., set forth
a comprehensive national program for
agriculture.
Today it is my purpose again to take
up this subject and to enlarge upon it.
This program is conceived to meet a
condition which cannot longer be en-
dured in a nation endowed with so
much natural wealth. I indulge in no
magic formula. I do not attempt the
task of misleading YOU into hoping I
have arrived at single panacea for
the manifold problems of agriculture.
! propose, therefore. fundamental cures.
and I do so in the spirit of honest
frankness, with the belief that such a
method is the sure way to win your CO.
operation in this great task that will
face the new administration.
At Root of Problem.
May I also add that I would be the
last person to claim sole credit for the
program which I enunciated at Topeka
or indeed for the enlargement of it
which propose to give you here today.
1t is a program worked out in CO.
operation with the wisest leaders OF
agriculture itself. and I pledge to you
a continuance of that policy OF CO.
operation in order that the program
may be enacted into workable law.
law set into operation at the earliest
possible moment. No attempt by the
present administration to belittle this
first. honest effcrt to meet the problem
of the American farmer can hide the
essential fact that my tnree-polnt pro-
gram goes to the root of the problem.
The three great steps which we must
take are: First, the Federal Govern
ment owes it to agriculture to see that
it gets a fair price for its products.
That means that the price of farm
products must be raised above the pres
ent ruinous low levels to which they
have fallen. A properly adjusted tariff
can do much in this direction. but the
present tariff policies of the Republican
administration have done precisely the
opposite. Pending the relief that will
be afforded by properly adjusted tariff
policy. measures must be taken to give
the farmer immediate tariff benefit.
This means in substance practicable
plan agreed to by agricultural leaders
which will provide for the farmer a
higher return for certain of his crops.
I set forth these principles which such
a plan must embody, in my Topeka
speech, and these principles have been
widely accepted as basic plan of action
in formulating the necessary legislative
relief.
Must Lift Tax Burden.
Second, there must be lifted from
the backs of every farmer the heavy
load of taxation which today weighs
upon him. This load is made up of
three parts, the local, State and nation
al units. At Pittsburgh I outlined the
position of the Democratic party, and
my position on the question of the
honest balancing of the Federal budget
and the imperative need of immediate
economy in national expenditures. I
also reiterate now my promise to eX-
ert all available influence in the posi-
tion as President of the United States
toward the reduction of all State and
local taxes
Third. We come to the vastly impor-
tant principle concerning the burden
which farm mortgages now bear on
every agricultural community. 1 want
to take this occasion at this time to
amplify that part Of my program. Let
me first repeat what l said about farm
mortgages at Topeka:
1t is my purpose when elected to
direct all the energies of which I am
capable to definite projects to relieve
that distress. and specifically I am pre-
pared to insist that Federal credit be
extended to banks, insurance companies,
loan companies and the other companies
or corporations that hold farm mort
cages among their assets; but that these
credits must be made on the condition
that every reasonable assistance be given
to the mortgagorS where the loans are
sound, for the purpose of preventing
foreclosure And those conditions must
be enforced
I further said that lower interest
rates and an extension of principal pay
ments will save thousands of farms
throughout this Nation for their own
ers. And hand in hand with that. my
friends. We must adopt the definite
policy of giving those who have lost
the title to their farms-titles now held
by institutions seeking credit from Gov
ernment agencies-the preferred oppor-
tunlty of getting their property back.
Interest Rates Too High.
To that may 1 add that the Govern
ment should make definite condition
when advancing Federal credit, that
wherever possible interest rates must be
lowered for renewed or extended mort
cages Whenever the Government of
the United States exercises any control
over the situation it is the duty of that
Government to demand every practical
BILE and possible assistance to the farmer
seeking credit to finance his crops, and
his farm, to obtain for him the very
lowest reasonable rate of interest.
The magnitude of the problem may be
seen when we realize that the total farm
mortg gage debt in the United States, ac-
cording to the figures of the Depart
ment of Agriculture, was at the end of
1880 s9,241 100000, or nearly three
times that Of 1910, and you farmers
here in Illinois alone owed s631 266, 900
OF this debt I believe today that the
farmer is called upon to pay too heavy
in interest charge. especially when We
realize that to this burden is added
taxes which today are two-and-a-ha
times as great as they were in 1914.
In order to enable him to pay these
fixed charges the farmer must depend
upon the prices for which his products
may be sold. and yet We must face the
fact that with this heavy mortgage in.
debtedness grown three-fold in 10 years
and with his taxes increased more thar
two-fold, the prices which he receives
for his products have shrunk in half