The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-07-20
Time To Be Lenient

Several farmers are telling stories |
of extreme plight because of their
inability to meet their federal farm
loans. The Tribune has heard some
of these accounts of foreclosure on
farms and forced abandonment of
homes, some of which the occupants
have lived in since their homestead
days.
Many of them are losing their
homes, not because of bad business
management but rather as result
of economic conditions which the
farmers or nobody else could antici-
pate when the loans were made.
Burleigh county has some good
farmers who cannot meet the terms
of their federal loans. Some of them
have already left their places or are
preparing to do so.
President Hoover, in a letter to
Senator Steiwer of Oregon, recently
announced that the federal farm loan
banks had agreed upon lenient
policy. Much solicitude has been ex-
pressed for our foreign debtors and
too little in relieving the plight of the
farmers.
Abandoned acres foreclosed upon
by federal agents, with farmers driv-
en- into the city bread lines, mark a
rather cruel and short-sighted pol
icy.
Bismarcks city and county agen-
cies should apply their resources to
mediate between the unfortunate
farmer in our county and federal
agents, so that those who are worthy
and who can work out their own
salvation may be left on the farms.
Turning them off the farms is hard
ly the solution in all cases.
1t is estimated that farm mortgage
Indebtedness in the United States is
ten billion dollars. The nation has
refused to get excited over this as
founding situation. Great eastern
newspapers write learned editorials
on our international debt situation,
but all constructive effort to relieve
the internal farm debt or seek its
refinance is branded socialistic and
class legislation.
Moratorium has been granted the
foreign debtor and other ways de-
vised to lift his load. Consideration
in a marked degree has been given
to the plight of the great financial
institutions, and rightly too, but II
is a reproach that agriculture has
been given so little constructive
thought or action.
Most of the farm indebtedness was
contracted when the prices OF farm
products were much higher thar
now. The most gloomy pessimist IL
those days never thought agricultural
conditions would hit such a low bot
tom. Now the farmer is forced K
pay his debts in grain and other pro-
ducts which bring in most cases les
than half the price obtained wher
such obligations were assumed.
The farmer is the only market Bis
marck has II farmer after farmel
must abandon his farm, purchasing
power goes with the farmers ext
from the picture. There is no mor'
important economic problem local.!
than that. Every civic body can vel
direct its attention to 1t.
Some survey should be made Il
this section to see what farmers cal
be kept on their land through inter
vention with state and federal loa
agencies. President Hoover's lette
to the Oregon senator indicates tina
something can be done in fedora
land loan circles to prevent a grea
exodus this fall from North Dakot
farms.
The basis practically OF all wealt
rests solidly On the land. It's pro
ducts renew the wealth Of the ma
tons. It's decline impoverishes
people. What greater call to dut
is there than that millions OF farm
be kept in scu:c kind Ct productio
through wise administration Of on
rural credit system. Let us hope tha
the letter Of President Hoover near
that the federal land loan banks al
going to take lenient and human
attitude toward the farmers Of tn
United States.
Our charity has been wanderin
over Europe under the spur Of be
nign American internationalist
There is plenty for that greatest
al virtues to do right here 1t HON
Locally the problem lies right