The nonpartisan leader. [volume], November 29, 1917, Image 9

About The nonpartisan leader. [volume] (Fargo, N.D.) 1915-1921

Image provided by: State Historical Society of North Dakota

                
ADVERTISEMENTS
Where You Get
Value Received
For Your Money
Hotel Metropole
—and—
The Cole Hotel
European Plan
REP. E. E. COLE, Proprietor
Rates 50c and $1.50
BOTH ON N. P. AVENUE
FARGO, N. D.
THE GARDNER
European Plan. FARGO, N. D.
16 combination sample rooms with bath,
$2—f 2.59*
TO rooms with running' water, $1 to 11.50.
SO rooms with bath, $1.60 to S3.00.
Finest cafe in the Northwest. Cuisine
unequalled. Restful, quiet—only hotel in
the city not on a car line.
A. H. Lelmbacher, Mgr.
The WALDORF and
ANNEX HOTELS
240 rooms. Recognized as the pop
ular stopping place for Nonpartisan
Leaguers. Prices Reasonable.
Keller & Boyd, Props., Fargo, N. D.
Our OO Year
Endowment
is the Best Life
Insurance
in the world today. For full particu
lars and also a free facsimile of
Lincoln's famous Gettysburg address
write today to
TOM HUGHES, Vice Pres.
Lincoln Nail Life Ins Co.
Pioneer Life Branch Fargo, N. D.
Help Wanted
The war is creating a big de
mand for young women and
young men with a knowledge of
bookkeeping, shorthand, type
writing, etc. Attend the Union
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a good position. Board $3.25.
Send for free catalog.—Adv.
Sat
Save 30%
On your Piano or
Player. Let us ex
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osition.
Fargo Music Co.
Factory Distributors
516-1st Ave N. Fargo, N. D.
Western Hide&FurCo.
801-303 Front St., Fargo, N. D.
Pays the highest prioes for Wool,
Hides, Pelts, Furs and Tallow.
Write for Price List
been signed as a goal to work for by
nearly 140,000 farmers in the western
United States. That is one of the
things they want. This phrase was
first coined and made part of a polit
ical issue in North Dakota—along the
Red River of the North—and today it
is in operation on both sides of that
same river—but on the Canadian side
of the international boundary, not on
the American side.
This Canadian law was enacted at
the 1917 session of the Manitoba legis
lature at Winnipeg, at the very time
when the Nonpartisan league in North
Dakota was putting the first parts of
its program up for enactment at Bis
marck. It is now in operation in
Manitoba and giving immense satis
faction to the farmers.
CANADIAN LENDERS
FOUGHT LOAN LAW
As on the United States side of the
line, this plan had the opposition of
the money lenders. There were men in
the Manitoba legislature who declared
most farmers were prosperous enough
without "state aid," and that those who
weren't were shiftless. They said the
money lenders would give every
worthy farmer all the credit he de
served,' and that the only farmers who
would want to join a rural credits as
sociation would be those who were
financial and agricultural failures..
After the law was enacted some still
continued to treat it with contempt,
and tried to get farmers to shun it,
but the farmers knew it was their sal
vation and they eagerly did their part
to make the law effective.
Under this Manitoba provincial
(state) rural credits law, farmers can
get short term loans for any legitimate
purpose for which funds can be want
ed on the farm. It thus.gives a form*
of relief that the federal farm loan law
of the. United States does not give—
namely short term loans upon security
other than farm land. It is in being re
stricted to long time loans and to
realty as the only security, that the
United States law fails to meet the full
requirements.
Canadian farmers now are getting
loans running from a few months up
to nearly one year for the purpose of
buying livestock, farm machinery, pay
ing wages to hired help, contracting
for the breaking of land, planting and
harvesting crops, and the purchase of
feed and other supplies. Many farm
ers have already been saved the neces
sity of sacrificing crops where in
former years they had to let go of
everything to satisfy the local bankers.
They are getting ahead hundreds of
dollars this year, where in the past
they have been only able to hold their
own or have suffered an actual loss—
Just for want of a ready short term
loan, which their local bankers refused
to give them. Also a great amount of
breaking has been done, that farmers
were unable to do in previous years.
PROVINCE COMES TO
AID OF FARMERS
To get these loan facilities it requires
15 farmers to form the nucleus of an
association. When the 15 have organ
ized, the provincial government ap
points an expert to act as temporary
secretary and treasurer until a perma
nent one is named. When 50 farmers
have joined, each subscribing $100, and
when 10 per cent of their subscriptions
have geen paid in, then the government
puts in its share, which is 50 per cent
as much as the individual farmers have
subscribed, and the municipality In
which the society is formed, pujs in 60
per cent as much. That is to. say, when
60 farmers have subscribed for $5000
worth of stock at $100 each, the
province subscribes for $2500 and the
municipality for $2500. The munici
pality may use its bonds Instead of
cash if it wishes.
With this $10,000 as a basis, the so
ciety establishes a line of credit with
some bank, and boiTows money at 6
per cent, which it reloans to its indi
vidual members at 7 per cent. One
such society now in operation has es
tablished a $30,000 credit on this basis,
and it is confidently believed by those
who are watching its operation at close
range, that $100,000 of credit will be
available on $10,000 original security
as soon as the law gets into general
working order. No interest is paid
until the money is actually withdrawn.
Thus a farmer who has secured $1000
of credit through the local association
begins to pay interest on the install
ments he draws out when he draws,
and the balance remains to Kis credit
State Managed Rural Credits at Cost
Farmers in Canada Now Have Short Term Loan
Law and Prefer It to Bank Borrowing
TATE managed rural credits
cost. Did anyone ever hear
that phrase before? It is one
of the planks of the Nonparti
san league platform. It has
Mention Leader when writing arivtu tlaoiu PAGE NINE Mention Leader when writing advertisers.
but without drawing interest until he
actually wants it for use.
HAVE STATE RURAL
CREDITS AT COST
With this 1 per cent margin between
what the society pays and what the
farmer pays, the expenses of adminis
tration can be met. Thus the Canadians
have state managed rural credits at
cost. These farmers by putting up
$5000 of cash (or part notes for the still
unpaid portion of the $5000) have se
cured $30,000 of credit immediately
available, through the co-operation of
their state and county government, or
what in the United States would corre
spond to state and county government.
The province names three out of nine
directors for the association, the muni
cipality names three, and the farmers
name three, and these decide upon the
financial soundness of the applicants
for loans, decide how much to allow,
and see that the applicant gives proper
security.
It is in the kind of security allowed,
that this rural credits act excels. The
farmer has no red tape to unwind. He
simply gives his personal note to the
society, together with a mortgage upon
what he purchases, or the produce
from the land he is to cultivate, and
gets his money. This of course be
comes additional security beyond the
farmer stock subscriptions and the
provincial and municipal subscriptions
on which the line of credit was origin
ally established. These notes can not
run longer than to December 31 of the
year in which they are negotiated. If
the farmer needs an extension he ap
plies to the society and if his applica
tion is approved, he gets an extension.
ALL PARTIES MADE
FINANCIALLY SECURE
Suppose a farmer borrows $1000, half
of it to be used in buying livestock,
$200 for machinery, and $300 to put in
a crop. For the first $500 he gives his
note and mortgage on the livestock and
all of their offspring, pretty good se
curity, but security upon which bank
ers generally refuse to extend credit
for the $200 he gives his note and mort
gage on the machinery for the $300
his note and mortgage on the entire
crop. Thus the society is entirely safe,
and the Interests of the province (or
state) and of the municipality are fully
safeguarded.
The advantages of this kind of credit
have already been shown by the fact
that Canadian farmers are now using
it for all of these purposes. And these
are not the so-called shiftless farmers
either, but the well-to-do. Some of
them have large loans, some small
loans, sums as small as $150 for a few
months' time having been advanced.
And the farmers say they like it far
better than dealing with the local
banks under the old conditions. Farm
ers who had plenty of assets to get
their loans from the banks, preferred
doing business with the society, which
is doing business with the state.
KEEP UP THE FIGHT
Dunkirk, Mont.
Editor Nonpartisan Leader:
Inclosed find clipping I Just ran
across. I thought it might be of in
terest to you to see how the plutocratic
press will grab everything they can
find to try and halt a forward move.
But stop for nothing, we are on the
right track and will sure crush them
at the switch in November, 1918.
Tours for the Nonpartisan league
and more of it.
CARL. E. FORSHEND.
The clipping, from the Spokesman
Review of Spokane, Wash., attempts
to create a false impression that the
League Is bankrupt.—THE EDITOR.
ANXIOUS TO WORK
Synarep, Wash.
Washington State Headquarters,
National Nonpartisan League:
Please advise me as to what is being
done in this county in regard to organ
ization of the Nonpartisan league.
If you give me authority to organize
here, I can round them up. I am the
principal of the Synarep school. Keep
me posted. When school is out I may.
be able to take the field and help push
the League.
W. A. THOMAS.
ORD IS BOOSTING
Orb, Neb.
Editor Nonpartisan Leader:
Nebraska has a Valley county of
which Ord Is the county seat, that
takes care of 11,000 true blue "Sam
mies." Ord has two of the leading
weekly papers of the state. Both read
the Nonpartisan Leader and are boost
ing the League along.
J. THULL.
ADVERTISEMENTS
"A
Diamond store for a Generation"
SHOP EARLY
Christmas is not far away. Why
not, this year, give her a watch or
wrist watch?
It is certain she will enjoy one
wonderfully well. We have them
In a wide variety of styles at
$ 12 and Up
Then we pan please her in neck
laces, brooches, lockets, rings, tea
sets, knive3, forks and a thousand
and one other items in gold, silver
and novelty goods, at prices to suit
every purse.
Call and see us or write us today.
Mail orders given special atten
tion.
Hagen-Newton Co.
JEWELERS—OPTICIANS
FARGO, N. D.
H. J. Hagen, President
Lars Christianson, Vice President
J. J, Hastings, Vice President
N. G. Eggen, Cashier
N. J. Brevig, Ass't. Cashier
We Invite the Accounts of Banks and
Individuals
The Bank of Personal Service.
OSGOOD
LENS
WE
REPAIR
RADIATORS
74 MORE LIGHT ON THE ROAD
ROAD RAYS NOT "SKY" RAYS.
NO GLARE NO NEED FOR DIMMING
COMPLIES WITH ALL STATE LAWS
The Fargo Cornice & Ornament Co. Fargo, N.D.
If You Love Mother
see that she has plenty of
Manchester Biscuits
Always on hand. Then no matter if
you have company come in unexpect
edly she will be able to get up a nice
meal in short order. The children will
appreciate it if you put them in their
lunch basket. We have biscuits for
every occasion.
Try them with jam or jellies instead
of tarts or pies.
Made in a sanitary factory.
Manchester Biscuit Co., Fargo
Send your leaky
RADIATORS
to
SERVICE TIRE CO.
WADE H-. MURRAY, Prop.
419 N. P. Ave., Fargo, N. D.
Tire Repairing and Vulcan
izing.
All work guaranteed.
CYLINDERS REBORED
And fitted with larger pistons and
rings. We weld and machine every
thing.
Satisfaction guaranteed. Phone or
write us when in a hurry for your
work.
Dakota Weld'g & Mfg. Co.
203-4 Fifth St. Fargo, N. D.