Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-06-02
PETITION FOR
FRAZIER BILL
People are Expressing Their
Desires to Members of
National Congress.
Lower Interest Rates on
Farm Mortgages, Money
Easement Wanted.

The debt burden of the country and
the interest rates on farm mortgages
is the topic Of the day. Economists
are agreed that something must be
done to remedy the situation, money
cheaper if the wheels of industry are
to move and business is to be re-
sumed.
The mortgage Indebtedness of the
country has reached the staggering
sum of S160,OOO,OO and the an
nual interest bill is approximately
$4,000 100000. 1t is one of the biggest
items of expense and there must be
relief from it.
The Senator Frazier bill now pend
ing in Congress and which has been
recommended out by the Senate Agri-
cultural Committee provides for low
rates of interest on farm mortgages,
11a% interest and 11a% payments an
nually, the loan to be paid up in AZ
release the money now invested in
farm mortgages for other purposes
industry, business, and home building
will make money more plentiful and
bring up commodity prices, in general
relieve the tenseness of the present
economical situation.
Teigan Explains Bill.
Editor H. G. Teigan of the Farmer
Labor Leader, explained the Frazier
bill in his recent Pine county adj
dresses, a review of which is pub
lished in this issue of the Askov
American. Other speakers have ex-
planned it, the bill was published in
the American in its entirely a few
weeks ago and the public is we'll in
formed on this proposed legislation.
Folks signed the petition to Congress
for the enactment of this bill at the
Teigan meetings and others have
signed it, list of the signers being
published herewith.
Two years ago this newspaper pub
lished list of several hundred Pine
county petitioners in opposition to the
Hawley-Smoot tariff bill, so that Con-
gress might be aware of the senti-
ment here. While the bill was passed
most of the Minnesota congressman
voted against it, and news dispatches
the other day reported that Congress
man w. C. Hawley of Oregon, co-au-
thor of the bill was defeated for re-
nomination in the Republican pri-
maries there Congress should know
the sentiment of the people back
home, and the members who are con-
scientiously representing their con-
stituents are glad to get such infor-
nation. Therefore this newspaper
has again volunteered to publish the
names of petitioners to Congress
this time on the Frazier bill. There
is to be no coercion for any sigma
lures, just a free will expression OF
opinion-the voice of the people. A
petition for signatures is published
elsewhere in this issue. If you like
American. Several signatures may
be placed on the same sheet and adj
ditional signatures attached thereto.
The list of signers will be brought to
the attention of Congress.
Below is partial list of the signers
to date. Many signatures were re-
ceived just before going to press that
will be published next week and the
list will be continued for few weeks.
The petition reads as follows:
Petition For Frazier Bill.
ITO Minnesota Senators and Represen-
tatives in Congress:
1.-The Debated condition of agricul-
ture requires immediate refinancing
of the present farm mortgage indebt-
edness, at a low rate of interest, in
accordance with the plan embodied in
the Frazier bill now pending in Con-
gress and which has been favorably
reported by the Senate Committee on
Agriculture.
I'VE urge the members of the Min
nesota delegation in Congress as well
as other senators and representatives
to put forth their best efforts to Sc
cure the passage Of the Frazier bill
and, in this manner, render practical
aid to the farmers of the United
States, and service to the country as
a whole"