The people's voice. [volume] (Helena, Mont.) 1939-1969, 1941-07-23
III. D. Rolph To
Continued from Page One

III THO SOull iOdoCo, OfCl tAC ma
tion, pitiful story is told from the
records of farm mortgages. This rec
ord has been written through the fol-
lowing transactions. First, we took a
Federal Land Bank loan to pay off
our many creditors in our commune
ties We found that this was not the
proper medicine. However, the doc
tors prescribed some similar tonics in
the form of new federal agency to
make more loans. The medicine
helped the Federal Land Bank but
not the patient. The patient was
The patients case remained much
the same in spite of all the medicine
from the different federal loaning
agencies. 1t is true that some of the
aches and pains were alleyiated by
the medicine, but no cure was affected
and the patient was still in an UNI
healthy condition.
From my remarks you may think
we feel nothing has been done to help
the farmer in his economic condition.
4 Hdb ~ IOL 81. Atlt WOulu no Ntly
few farmers or farms today if they
had not received help through legis-
lation. Legislation has kept 5000 of
them alive. 1917 of the farmers have
done extremely well. While prepar
ing this broadcast l heard newscast
stating that one of our farm corpora
lions had begun to harvest the 1871
crop. Operating 16 combines at pres
ent, they expect to have at least three
more in the field. The wheat was
running on an average of rs bushels
per acre. This corporation operates
about $4,000 acres of land, situated
on the Indian reservation. The land
is leased from the federal government
and is subsidized by federal wheat
payments. A report published in our
cooperative paper, "The Peoples
Voice" states that this corporation re-
ceived $4,000 last year in Triple-A
payments. Being in the program also
entitled them to the benefits of the
$50 parity loan income. Can any
family-size farm hope to remain en-
tact under such system? We sug
gest that a new and complete survey
be made of the condition, so that SEN
sible treatments can be given to put
the farmer on his feet.
Our organization, through its work
in Washington this past winter, has
gone on record asking for a complete
investigation of the results of the
medicine given to the patient, the
American farmer. They further ask
that a survey be made to record just
who has benefited from the legisla-
tive medicine used up to date. The
story this survey would tell would be
interesting to everyone.
| have discussed the farmers con-
dition. We realize that it is a dis
tressful and unwise condition. Some
thing more must be done for him. Any
institution large or small, financially
embarrassed, must first have a COM
plete overhauling of their financial
structure. The farmer must do the
same. He must use this method first
His financial structure is weak and
unstable he must put his credit in
order
To do that alone is not enough, but
have tried to show you that this
type of medicine has been the only
kind offered the patient for 35 years
and each doctor hoped his plan would
bring about cure There cannot be
any further patching up of the old
body, there canont be a continuation
of the same old medicine. There must
be complete overhauling job done
That overhauling job can be done
through our debt adjustment bill. We
have ben trying to secure this remedy
for the farmer for the past two years.
He has needed it. He must have it if
he is to be started on the road to
recovery.
1t has been, and will be a fight to
secure this treatment, the debt adj
justment bill, for the farmer He is
sick, as we have said before. He has
had SO much poor medicine he hasn't
always realized how serious his con-
dition is. He is not organized with
the other sick farmers to help secure
the real remedies. He has neglected
to take stock of the type of medicine
he has been receiving. He must now
awaken to the fact that the debt adj
justment bill will begin the cure. He
must, through organized action help
secure the type of loaning agency that |
will at last relieve some of the pains |
suffered by the American farmer.
| repeat, it will be a hard fight to |
secure this important and much |
needed piece of legislation, our debt |
adjustment bill. 1t is strange that it
will be fight to secure a refinancing
bill for farmers at 80 when records
show that other industries have been
able to get huge loans from federal |
agencies at less than 1@o interest. /
This same group invested their saw
ings in farm mortgages. In fact, for
years past the cry was, "Invest your
surplus earnings in farm mortgages,
they will bring you the highest rate of Il
interest"
That was the slogan of business
while farmers continued to loose their
farms, because they could not secure
loans Now, in 1871, the
same group who purchased farm
mortgages is engaged in the fight to
prevent farmers from getting the debt
adjustment bill with its provision for
ow rate of interest.
All of you should be familiar with
he nrovicionc outlined in tba daht od