The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1940-05-23


in it's original form. Furthermore,
they predict that the Committee
will not recommend any more con-
troversial FCA legislation in this
session. Aside from the Farmers
Union the other major farm organ
izations also oppose the measure.
There is strong feeling in Con-
gress that the cooperative feature
of the Land Bank program, under
which associations with farmer
borrowers as stockholders admins
ter the loan program in their own
localities, should be broadened and
strengthened. The Jones bill would
retire stock of the local associa-
tons and centralize authority in
the hands of the FCA in Washing
ton.
When the Federal Land Bank
was created twenty-five years ago
it was the intent Of Congress that
the government should gradually
withdraw from it's administration
and make it a truly cooperative
affair. AS a result of legislation
and executive orders, practically
all control over the Land Bank
has been taken away from the as
sociations and conferred in Wash
ington. In the opinion of many
the entire Land Bank system
should be overhauled and revamp-
ed with the object in view of max
ing it a truly cooperative institu-
ton that will serve it's membership
as originally intended.
Forced Loans To Finance War
Slowly but surely plans are go
ing forward in anticipation of
Americas entrance into the war.
The latest plan to come forward
is for financing the war. Chair
man Frank of the Security and
Exchange Commission, has a war
time finance plan which he be-
lives would provide up to 20 billion
dollars. 1t follows the forced
loan" plan evolved for Great Bri-
tain which provides for levying of
a contribution, part of which would
be a loan to be covered by repay
able securities in installments af-
ter the war. The balance would
be considered taxes and never re-
paid. AS understand it this fore
ed levy would take the place of per-
sonal income taxes, both normal
and surtax.
In his outline of the plan before
a group of army officers Mr.. Frank
said Is billion dollars could be
made available from these sources:
/. About billion dollars by cur
failing civilian expenditures for
goods such as autos, household
machinery and furnishings.
2. Approximately 3 billion by
cutting down civilian consumption
of non-durable or consumption
goods
3. Another billion by curtail-
ing for several years replacement
expenditures of business.
4. About 5 billion from individ-
uals' normal savingss, estimated at
10 billion.
A year or so ago Assistant Sec
rotary of War johnson outlined to
Congressional Committee a plan
for having the government take
over all industry, transportation
and communications in time of war,
but it was never made public for
fear it would create too much I'M
easiness.
There is no question in my mind
but that we are heading for war.
It may not come until after cleo
ton but one thing is sure, when
it does come our form of govern
ment will be changed from a DEM
ocracy to a Dictatorship. Are we
ready for the change? Why must
we get into another war that will
inevitably bankrupt US?
Politics And Transportation
BY the close vote of 200 to 1872
the House on Thursday, May 9,
recommitted to the conference COM
mittee the general transportation
bill, S. 2OC9.
The bill proposes a system of reg
ulation of domestic water carriers
by the Interstate Commerce Com
mission, which now regulates rail
road and motor carriers, to be ad-
ministered in such fashion as to
preserve and make available the in
herent advantages of each form of
=, transportation. 1t proposes, also,
a special board to be appointed by
the President to make a complete
study of our transportation.
mo legislation in my seventeen
years in the Senate" Senator
Wheeler said, has received the
careful, detailed and thorough con-
sideration that has been accorded
this BILL" which he looked upon
as "the foundation upon which to
build a sound and permanent trans
portation policy"
The bill had it's beginnings near
ly two years ago, when President
Roosevelt appointed committee of
six, three railroad presidents and
| three railroad labor executives to
make a report to him on the troub-
lesome transportation situation
One bill introduced in this Con-
gress, at the first session, was bas-
ed on this report. Another was in
troduced by Senator Wheeler, and
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