The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1935-02-08
BY JAMES LODAHL

At the annual mtteng of the stockholders of the Dag
mar Farm Loan Association JAN resolutions were
adopted and sent to Senators and Representatives in
Congress, and to local newspapers
The News, in an editorial Jan. 25 writes that the
resolutions support all the fake that have been
o1ered during the last year to get this country of the
The Producers News has perfect right to its own opn
I0n but it seems to to be only fair to the stockholders of
the Dagmar National Loan Association and its readers
to print the resolutions before branding as fake but
1t seems that they were so anxious to tell how foolish
and how little know about what is good us that
they got everything mixed by mentioning the Frazier
Lemke Bankruptcy Act Apparently they do not know the
difference between this act and the Emergency Farm Mort
Act referred to resolutions request that they
News.
The first resolution follows:
Whereas the Emergency Farm Mortgage Act of 1888,
the proposal of which to refnance the farmers has
been great disappointment and failure for the reason
Be it therefore resolved that Congress enact the Fraz
Ter Bill, whereby the farmers will be refnanced at a low
rate OF interest and on long term payments
At present the farmers can borrow up to onehaf the
appraised valuation of the land plus 20 per cent the value
of insured improvements at percent interest
II the Frazier BIZ is made law the farmers can borrow
the value of insured improvements at and onehaf
cent interest So in spite of all the faults the Producers
News find in the Frazier Bill the fact remains that
instead paying per cent interest which do now
will only have pay and Oneha percent interest
der the Frazier Bill Can we farmers ask for more In
refinancng?
The second resolution follows:
millions of people and has cost billions of dollars and
Whereas the fear of economic dependence in old age is
forcing people to continue working, and thereby max
ing it difficult impossible for younger people to Obtain
work, be it
Therefore resolved that recommend that Congress
provide for old revolving pension Iownsend Pan) VIII
the following changes Instead of pension of 5000 month
to each person over years age recommend pension
OF $1OO month to each person over so years OF age
We believe that this will practically eliminate unempoy
men restore buying power and make prosperity reality
Remarks:
The Townsend Plan has three purposes. l. Take fea
out of old Take enough old people out OF WORK SO
young people get work g. By spending all of the pen
every month"; thereby creating revolving fund.- retor
ing the buying power of the people.
This revolving fund is provided by general manufact
urers sales tax all classes of business estimated to
about ten per cent all to to the old fund.- but can
pay small sales taxi We must adso remember that hun
reds of millions of dollars would be saved relief poo
and charitable institutions would not be necessary an
longer :,
That this Plan has met with universal approval is show
by the many millions of people who have signed the petit
ions for the Old Age revolving Pension Fund Inc goVei
ment will of course have to the first months penslo
to get it started.
The third resolution follows
Whereas the soldiers of the World War left position an
home to risk their lives in the trenches, and
Whereas many of the soldiers who returned home wei
less broken health many found their position goI
and of them in need, be 1t
Therefore resolved that we recommend the mn1edla
payment the soldiers bonus not by issuing OF more int
est bearing tax free government bonds but by printing
money which will get into circulation and thereby not on
benefit the World War Veterans, but the whole nation
Remarks:
Wall Street bankers are of course, against printing
money that is initiation But when the Government issu
more interest bearing taSfree bonds that's business
thong the only difference between bond and greenoa
is that bond pays interest greeback doesn't but the gu
rantee behind both is the Nations credit There is nobo
who wants the Government to start the printing press tur
ing out money like Germany did under the War; but the
is more than enough gold and silver bars in the governme
mint guarantee the printing of the Soldiers Bonus pen
of money in circulation is awtys associated with go