The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-11-16
SENATOR FRAZIER
TALKERSAT
union CONVENTION
Says Fight For Refinancing o.
Farm Mortgage Loans
Planned in Congress

Omaha, Neb., Nov. 16.-R)-Re-
financing of farm mortgage loans al
radically reduced rates Of interest
will be fought for at the coming ses.
sion Of congress by representatives
Of farm states, delegates to the an.
nual convention Of the National
Farmers Union were told Tuesday BY
Senator Lynn j. Frazier, Republican
of North Dakota.
Frazier stated that growing senti'
ment in favor of his senate bill *
refinance the farmer as an emer.
gency measure indicates prospects fol
early favorable action are good.
Congress finally is realizing thAI
something should be done immedi'
ately to restore the purchasing power
Of the farmer and refinance his in
debtedness at any interest rate he 1.
able to pay" Senator Frazier said.
I'm addition to speedy action o.
refinancing, haste also is necessary
on farm price legislation II we are
to assist In early economic recovery
The suggested allotment plan ap.
pears to meet the needs Of the situa.
ton satisfactorily"
COmmends Resolution
Senator Frazier commended thu
resolution adopted Tuesday by the
Farmers Union national director.
against cancellation of war debt.
owed to the United States.
II opposed the moratorium on the
ground 1t was unjust unless a similar
debt holiday could be given to Amer
lean farmers" Frazier said. II shall
take the same stand on any furthel
proposals to relieve European debt.
ors." @asl
Farm Holiday association leaders
who Monday night propounded a mill.
tant program of farm relief, We'd
nesday were expected to carry their
program before the convention and
win the conventions approval for the
plans.
The Holiday association leaders,
many Of whom also are delegates to
the union convention, reported Tues
day night a canvass of delegates had
found the sentiment of the conven-
ton greatly pro-Holiday association.
They added they believed there would
be little opposition to the holiday pro-
gram when it is placed before the
convention for approval.
The resolutions adopted by repre-
sentatives Of IL of the IS Holiday as
sociations organizations, express in no
uncertain terms the desires and the
policies of the association.
Would Test Validity
AS pivotal point for their pro-
gram the Holiday leaders adopted a
resolution pledging the association to
take immediate steps to test the val
idity of the contracts that exist as
farm mortgages payable in gold, or
IN currency based on gold, by test
case, to be carried, II necessary, to
the U. s. supreme court.
The association placed itself on rec
ord as believing that foreclosures of
such contracts were unconstitutional
and then carried its point further by
declaring I'VE recommend that all of
our fellow-farmers affected by such
foreclosures refuse to recognize the
legality of such procedure and do
everything in their power to prevent
the forcible collection OF taxes and
farm debts.
Another resolution demands nation
al legislation to guarantee the farm
ers the cost Of production for their
products.
Before adjourning the convention
was expected to reflect John A. Simp-
son OF Oklahoma City as union presi-
dent.