The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-12-26
Editors Not
Farmers, Are Warned
A e a i n s t Farmer
L. a b o r Politicians

DALBO, Minn.-The majority OF
the farmers in this community are
still deluded by the magicians of the
farmer labor party who promise
many things Principally the Frazer
bill, now pending in congress, which
when enacted they say, will practically
solve the farmers problem, particu-
larry financial for he will be able to
borrow money from the government
at l ID per cent and l 1-2 per cent
amortization, thus enabling a farmer
to unmortgage his farm in so years
or less.
I wish you would publish the true
figures on this bill. I talked to one
fl member who claimed that the
government would make two billion
dollars for agricultural refinancing if
this bill becomes law.
I tried to point out how inadequate
this sum would be if the bill became
law to take up all the mortgages
now held by the insurance COM
panies, banks, etc. But he talked
vaguely about a revolving fund"
Since I did not have figures on the
total Farm debt could not argue
this question.
Except to say that the capitalists
have the farms mortgages for two or
three times their normal market
price and that they would still own
it under the terms OF the Frazier
bill, with the taxpayers and farmers
the goats.
Wish you would publish from time
to time extracts of Marx, Engels,
Lenin and others on the revolu-
tionary movement as many of us
cannot afford to buy these books.
Farmer.
Ed. Note-The Frazier bills main
point as affects the farmers is as
follows: The banker would be paid
off by the government and the farm
er would then pay his amortiZed debt
to the government as the writer
points out. This means that the
bankers profits are secured by loot
ing the treasury and the farmer loses
his land to the government instead
of to the banker.
Some figures on the farmers
plight today: Taxes have risen 266
per cent since the war. Out of a
total 978,000,000 acres in farms, 200,-
100000 acres are tax delinquent.
One hundred seventy-three million
are under mortgage. Three hundred
seven million are farmed by tenants.
(The tenant farmer still pays his
full share to the owner but price has
reduced his income drastically).
Twenty-three per cent of the land
total is owned by those who toll it
and is usually the poorest land. In
1882 the farmer received in proper
ton to his expenditures for living
articles, machinery, ETC., price paid
as to price received for products 102
to 81. Mortgage total in 1890 was
$9,250, 100000.
Income loss last year amounted
to $346, 100000. All figures are based
on department of agriculture reports.
Remember that rich farmers through
their co-operatives, etc. are helped
by the government and the burden
is on the poor farmers.
1t is now reported by the depart
ment Of agriculture that 40 per cent
of the farms are mortgaged, as fol-
lows: 10 per cent for three fourths
to full value, 81 per cent from one
half to tfree-fourths Of value. In
1882 (to date) 10 per cent of the
mortgaged farms as being indebted
He accounts for five per Gene of the
mortgaged farms as being indebted
in excess of their value and the bal
ance as being small mortgages. We
call attention Of readers to the fact
that all federal figures are Of doubt
fttI 80 fp, Ix1s.