The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-10-21
WOULD RE-F|NANCE
FARM MORTGAGES,
HE SAYS IN SPEECH
Outlines Three Great Steps
Which Must Be Taken to
Aid Agriculture
ATTACK REPUBLICAN TARIFF
Democrat Lists Fair Prices,
Less Taxation, Debt Ex-
tension as Needs

Springfield. ILL.,. Oct. 21.-(P)-Be-
fore a throng which filled the Spring
field arsenal to its official capacity
of 10000, Governor Franklin D.
Roosevelt asserted Friday that "as
president" he would propose to con-
gress definite plan for the re-fi-
nancing OF farm mortgages"
Il shall recommend legislation to
the congress" he said, "for the scaling
down of amortization installments Of
federal land bank borrowers when in
the Judgment of bank directors con-
ditions justify such action, with pro-
visions for deferring such unpaid
amounts to the end Of such amorti-
zation periods"
"And I shall enforce such legisla-
tion," he added, with shake Of his
fist.
Governor Roosevelt was interrupted
frequently by applause. It burst out
when he enunciated each of his three
great steps" for aiding agriculture.
Referring to the ''ruinously low
levels" to which farm products have
fallen and saying properly adjust
ed tariff" can do much to raise them,
he departed from his prepared text
to ask:
How are they (the Republicans)
going to explain a tariff of AZ cents
when the wheat farmer today is get
ting 30 cents?
Tariff Is Inoperative-
"Of course that tariff today Is alb
solutely imperative as you and 1
know"
1.-THE three great steps which We
must take" he said, "are, first, the
federal government owes it to agri-
culture to see that it gets fair price
for its products. That means that
the price of farm products must be
raised above the present ruinously
low levels to which they have fallen.
"A properly adjusted tariff can do
much in this direction. but the pres
ent 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 TAX
en- to give the farmer immediate tariff
benefit. This means in substance a
practicable plan agreed to by agricul-
tural leaders which will provide for
the farmer higher return for Ger
tain of his crops. I set forth these
principles which such plan must
embody, in my Topeka speech, and
these principles have been widely &C
copied as a basic plan of action in
formulating the necessary legislative
relief.
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 ma
tional units. At Pittsburgh I outlin-
ed the position of the Democratic par
ty, and my position on the question of
the honest balancing of the federal
budget and the imperative need OF
immediate economy in national ex-
penditures. also reiterate now my
promise to exert all available in
fluence in the position as the presi-
dent of the United States toward the
reduction of all state and local taxes.
Farm Mortgages Heavy
third, we come to the vastly i'm
portant principle concerning the bur-
den which farm mortgages now bear
on every agricultural community"
Recalling what he said on farm re-
lief at Topeka at the start of his
coast-to-coast campaign swing, the
governor said he wanted to add that
the government should make a def
mite condition when advancing feder-
al credit, that wherever possible inter-
est rates must be lowered for renewed
or extended mortgages.
Whenever the government Of the
United States" he continued, "exer-
cises any control over the situation
it is the duty Of that government to
demand every practicable and posi-
BILE assistance to the farmer seeking
credit to finance his crops, and his
farm, to obtain for him the very low
est reasonable rate of interest"
1.-THE solution of this farm) pro-
fNo~ttn.,oA IN -ora Ni,,AA