Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1940-03-14

Bank loans and
40 on Land Bank Il
c m m oner 81 "a
loans. The pur- III Il aSASa =!
pose of the legisla- '''''''''
and deficiency judgments, except in
the case of willful and negligible
damage to the mortgaged property.
The proponents of the measure as
sert that the Land Banks could be
made self-supporting by government
thereby making possible the lower
interest rates proposed.
l do not know how this program
squares with the Presidents views
as he has on two different occasions
vetoed bills to lower the interest rate
on Land Bank loans.
Some Interesting Figures.
Frequently some constituent writes
me in regard to government finances.
Often those who write want to OBJ
tain information as to the receipts
and expenditures of the various ad-
ministrations since the creation of our
government. To such these figures
will prove of interest. In the first
14412 years of the government, up to
the present Roosevelt administration,
the receipts of the government were
81 billion $50 million dollars, with
expenditures totalling 112 billion 2O3
million dollars. During the two
Roosevelt administrations the re-
ceipts were 40 billion 80 million, eX-
penditures IS billion 628 million,
making a grand total for all presi-
dents of 131 billion CTS million in
receipts and lit billion 831 million
in expenditures.
From the above it will be noted
that Mr.. Roosevelt, in eight years,
the last two years being estimated,
| has spent 5812 percent as much as
all his predecessors put together in
14412 years. 1t is interesting to note
that the Roosevelt administration has
collected in taxes "A percent as much
as all the other presidents combined,
and under him the national debt has
been almost doubled. Then we wonder
why the depression continues. Peo-
pie with money are sitting tight be-
cause they are afraid of the future
Only through a restoration of con-
fidence can we hope to have a return
to normal conditions, when it will
be possible for all who are employable
to find work.
Where the Money Went.
1t is not alone the little fellow who
has benefited from soil conservation
payments, as is shown by report
made to Congress by the Agricul-
tural Adjustment administration for
1887. Over 10000 farmers and cor
porations received soil conservation
payments of $1,000 or more. Most
of these big payments went to insur-
ance companies and banks, which in
recent years have acquired large land
holdings under foreclosure proceed
ings. The Metropolitan Life Insur-
ance Company leads off with checks
totaling S257,095; The Prudential In
surance Company of America, $751;
1853; the Equitable Life Assurance
Society of the United States, $780,
962; Travellers Insurance Company
of Connecticut, S211, 521; Union Cen
trail Life Insurance Company of Ohio,
| S166,280; Mutual Benefit Life Insur-
ance Company of New Jersey, $751;
100; Northwestern Mutual Life In
surance Company of Wisconsin, $780,
444; John Hancock Mutual Life In
surance Company of Massachusetts,,
STAT ,647; Federal Land Bank of
| Omaha, Nebraska, S134, 139; the King
Ranch of Texas, $122,14O, and the
Federal Land Bank of St. Paul, Min
nesota, S103,925.
FavOrs Regulation.
At a press conference last Friday,
President Roosevelt expressed the
hope that legislation would be passed
| by this session of Congress to place
domestic water carriers under Inter-
state Commerce regulation, notwith-
standing opposition to such regula-
ton by Secretaries Wallace and
Woodring.
Mr.. Roosevelt is 100 percent right
in his position. All forms of trans
portation should be regulated by one
central body and until that is done
we will continue to have rate dis
elimination, favoring one section of
the country against another. If reg
ulation by the Interstate Commerce
Commission is desirable for all forms
of land transportation it should be
equally desirable for water trans
portation.
Treaties Clear Hurdles.
Without in any way changing the
present Reciprocal Tariff act, the
Senate committee by vote of IL to
on Friday, last, approved the reso-
luton to extend the treaty program
for another three years. The nearest
the Administration came to defeat
was on a proposal to require Senate
ratification of all treaties, which was
defeated 9 to H. This amendment