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" Sporting News
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Magazine Section
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TWENTTT-NINTHC YEAR No. 219,
EXPERT DOPES OUT
'Points Out Strong and Weak
Points Among the Lead
ing Elevens
By H. 0; Hamilton. -
(United Press staff correspondent.)
New York, Out. i4.r-The first foot
bull clush which will enable followers
it the pig tikin to begin getting a line
on the strength of big eastern teams will
.onie this afternoon at Princeton when
Speedy Rush sends his Tigers against
the surprising Tufts eleven.
. Some upsets of the old dope bucket
lire promised in. today's gridiron clash
wit. Princeton isn't, the only spot where
they are reluctant to bet on the chances
of the shock absorbers. At Cambridge
Harvard is fussing' around, waiting to
o into action aguinst North Carolina
and the crimson conches have paid so
little attention to this game that no
special practice has been taken tor it.
North Carolina was beaten last Sat
u'rday 2ft to 0 by! 1'rinceton, but the
fact that Tufts came through with a
inunipn last week, over Harvard is dis
concerting to Tiger boosters. While they
are confident Nassau will be on the
long end of the score, they know their
favorites are going into a battle that
will prove anything but a practice con-
. test. .- .'
Yale has been hard at work all week
and will go into the game with Lehigh
confident of victory by a close score.
The Eli coaches have declared they will
be satisfied with a bare victory, for
Lehigh will have an experienced eleven
in lino. -:;-" " . -
. - Cornell is scheduled against Williams.
A year ago the Ithacans won from Wil
liams by a huge one aided score, but
no such tripmph is anticipated this aft
ernoon. While Cornell has lost some of
last year's stars, Williams is considered
stronger.
: The Navy eleven will do mighty well
to escape defeat at the hands of Pitts-
burg. The Pennsylvaniaus last year put
the Navy craft hopelessly out of the i
running by a lopsided score and the
National Lottery and Open
Gambling in Rio de Janeiro
. Rio de Jnnlere, Sept. 15. (By Mail.)
With two hundred and fifty thousand
imaginary dollars one may build a fairly
good air-castle; and the Brazilian is a
great air-castle architect. His mater
ial, always at hand, is the lottery tick
et,. . The lottery in Brazil is as much
tin institution as the daily press or the
milkman, just as it once was more or
less so in the United States..
. A Spanish immigrant woman bought
n lotory ticket as she walked down the I
gung plank of the steamer that brought i find a single case of where a man or
her to the new world. When she ar- j woman had played the bicho and won
rived in the city she found that she had consistently. The papers promised to in
won the big prize of the day's drawing, vestigate each purported winner tlioro
She returned to Spain on the same ship, I uglily and publish the results,
richer than her wildest dreams. I Tlio first story published was about
Pedro Silveria, a working man, dream- a young man of prominent standing in
ed that he was to win the Christmas lot- a big business firm. The investigation
tvry prize. His dream told him the win
ning number. He sold all his possess
ions to obtain the number. His extra-
nrdniary faith was communicated to his I
neighbors and friends, lne day ot the :
drawing he. was accompanied to the
'chapel of chance- by thousands of
friends and curious who had heard his
tory.H. A the six little girls spun the
fateful wheels the number that turned
up was not that held by Pctro. Pctro
died in an asylum.
Kxtravagant hope and tragedy is the
dory of the lottery in Brazil. The rich j
Brazilian buys his lottery ticket as he j
takes his morning coffee by habit-
The poor Brazilian saves and scrimps
tuid often goes in debt for his 'chance'.!
One wins every day. Hundreds of thou-1
Minds never win. I
. Although several states have their
own lotteries the big game is the Federal ,
lottery, operated by an anonymous cor
Tiorntion on a' government; concession.
The government supervises the draw
ings and sale of tickets and takes five
per cent of the receipts. There is a
drawing every week day with special:
prizes for holidays, ranging from 15,000
to 250,01)0 dollars, American money.
The prices of the tickets are fixed in
accordance with the dar's pnze
-from
twenty-five eents to ten dollars.
Is the trail of the lottery follow
other gambling devices, chief of which
is the "bicho" (beasts which is simi
lar to the "policy" played in the Uni
ted States. The terminal numbers of
the winning number of the day 's lottery
determines which "bicho comes out."
If the player has laid his money on this
terminal number he wins. The bicho
is even more insidious than the lottery
and there are few Brazilians, men or
women, among the working classes who
do not play the bicho. Bicho players
Nevy is considered overly strong this
year..
the Army will meet a tartar in Holy
Cross, but West Point coaches are con
fident of the outcome.
Dartmouth should have little trouble
in winning from the Massachusetts Ag
gies. Pennsylvania is scheduled Tor a
game with Swarthmore at Philadelphia
and Penn State will tackle West Vir
ginia Wesleyau at State college. -
Watching the Scoreboard
Pacific Coast League Standings
W. L. P.-t.
Los Angeles 109
Vernon 108
Portland M8
San Francisco W.'i
Salt Lake 87
72
Kll
H7
04
93
.004
.575
.503
.503
.4K3
.340
Oakland '. 85 120
Yesterday's Results
At Salt Lake 2,. Portland 4.
. At San Francisco 6, Vernon 3.
At Los Angeles 5, Oakland 3.
Lob Angeles widened the gap sepa
rating it from the Vernon Tigers by
bcatinir Oakland 5 to 3 while the Hun-
gals were succumbing to Hun Francisco.
Vernon couldn't win with Steen
curves. state, out wnen tne nnouoo is miuisu-
7 ed, opposing guards will find an item
,' Gleiehmann of Vernon made his third.on their meal ticket they haven't been
linmo run nf iha wopk.'lt. tin iiiienod in exiioctinir. Warren Booth, quarterback
the ninth but the sacks were vacant.
I
Los' Angeles beat Oakland despito a.
bad start when the Oaks landed on Doc
Crandall for four hits and three runs, snap winon is impressing tne wucimi,
in the first inning. but it is not definitely known whether
. he will be kept there in the ever chnng-
Doc quit right there. Hall took ttpj.ing shift formations.
the work and hypnotised the collaritesj There is little prospect that tho stu
until sundown. He won his own game j dent body will accompany the team to
in canto number two when tripled with Albany Saturday, as the students seem
two' on, and rolled home on a wild to prefer to invade the1 metropolis on
pitch.
Portland outswat Salt Lake ami won
four to two. The game was exciting,;
with wholesale errors and the bases in-
toxicatrd most of the time.
She Gertie says the curate put his
arm around her three times last night.
He The bounder must have a terribly
long arm.
have a distinct jargon in which they
exchange their "palpites" (hunches)
and speculate on their "sorto" (luck)
Although the police have made despcr
ate attempts to break up bicho playing
the game flourishes. There are thous
ands of bicho houses in the city nloue.
A local newspaper recently conducted
a strong campaign against the bicho
and after weeks of vain endeavor to
break it up the paper announced that
they would give a hnndsomo prisfe to
sent him to jail as a defaulter. The
second article told of a wife who ex
plained her eupply of cosh to her hus-
band by the bicho. The investigation
resulted in a divorce. There was not a
single winner unearthed in more than a
month s search
Business houses often sell their wnrer
by the aid of the lottery. Pianos, wat
ches, motorcycles, clothing, even houses,
are sold on "the "club plan" by which
the buyer pays in installments, receiv-
ing a number with the first installment.
If his number comes out In the lottery
before he has completed his installments
he wins his purchase without further
payment. It is needless to add that
the prices are made to cover losses by
this system.
The a'e of lottery tickets gives em-
ployment to several thousand men. There
are lottery ticket houses in every block,
often operated in conjunction with the
bicho game, and agents make a house
to house canvas crying their numbers
in the street and seeking patrons on the
street cars. The lottery ticket vendor
is a picturesque figure as he utrolls
up the street rrving his number and the
"bicho" of its terminal. He shouts
"Twenty cantos (five thousand dollars)
twenty cantos today. Mv number is in
the Lion. The lion will bring you a
fortune todav."
Perhaps as a natural result of the
'moral support given the lottery by the j and was born in 1HJ1. He leaves a
government all other gambling is " wide ! widnnw, three daughters and one son
open". The "lid" is applied half.bv this marriage and several other
benrtedlv at infrequent intervals. The
races and pool rooms attract their quota One .daughter is Mrs. Win. Holmes of
of players and a a dozen or more : this city. Mr. Hockett was a very fine
"clubs" in Rio, roulette, hacarat, ram-man and had lots of fri nds. The date
pista, monte, poker and all the games of the funeral has not been set nt this
that delighted Americans of the old; writing, word from hi children in Kan-
west are in full swing with the sky the 'an being waited 'for. Woodburn lmle-
limit. pendent.
SALEM, OREGON, SATURDAY, OCTOBER
Willamette Recovers ,
Slowly from Beating
Protegees of Coach Mathews have
spent a busy week learning how to re
cuperate from a 97 0 defeat and to pre
pare for the annual clash with Albany
college at Albany next Saturday, Octo
ber 21. The practices have been re
lentless and thorough despite the sore
spots gained in the encounter with Bez
ilek 's huskies.
The most encouraging news of the
week was the appearance of Willis
"Jack" Bnrtlett of Newberg in a foot
ball suit. Bartlett has imide a name
for himself as a plunging fullback and
gritty player froiif the. ground up and.
will make the players hustle to keep
their places on the tenm. Bnrtlett is
ex-president of the campus, letter club,
the most exclusive campus organiza
tion. .His coming has undoubtedly great
ly served to stimulate tlio fighting
spirit of the battered team.
Considerable spirit has been made in
the team by Coach Mathews in his
efforts to stop the gaps in the eleven,
"Vic" Taylor has been Bhifted from
tackle to end as has Ratoliffe from
fullback! to the opposite end. (luerin,
the big 200 pound fighting guard .and
all-star Kooky Mountain player of Inst
vear. still nurses the twisted tendon in
(his knee. Just where the jinx for the
'rbig husltv is located it is impossible to
and end, has been out of the game all
-week, but will likely reappear on Mon-
day. Rene Jnekson of Emmett, Idaho,
j has been playing right half with a
November 25 when M. A.
A. C. will be
met on its home field.
DJ . i- DarA Dlnl
Dig nUlU lldCC lVUIl
This Afternoon
Chicago, Oct. 14. Twenty-one drivers
are ready to line up at the start at .May
wood NHedvuy this ufternoon to race
250 miles for the 1910 A. A. A. cham
pionship and $15,000 in prize money.
But the rcurcontost lies between the
big four, Aitken, Kesta, Hickenbiicher
and Del'alma. Rickoiibnchcr will drive
a Maxwell, the other three Peugeots.
lhe drivers will bo scut from the
startinir linn in thiH order:
Klein, Crawford; D'Aleue, Crawford;
Henderson, Maxwell; Restn, Peugeot;
Kawlings, Uulutli Special; Lewis, Pre
mier; Hughes, Hoskins Special; Wilcox,
Peugeot; Kickenbacher, Maxwell; Gal
vin, Premier; Burt, Ogren; Buzane,
Uueseuburg; Gable, Kibes Spe.-iul; Hen
ning, Ogreu; Aitken, Peugeot; Dol'nlmn,
Peugeot; Milton, Duesenberg; a second
Duesenburg to be driven by either
Ralph Mulford or Earl DcVorej Vail,
Hudson; Chevrolet, Ben llur, and Oste
wig, Ostewig Special.
Filings for County
Offices Completed
Filing for county offices has been
completed, and the list is now ready
for printing on the official ballot.
Five of the candidates hnve the en
dorsement of the republican, demo
cratic and progressive parties. These
candidate are W. M. Smith, for super
intendent of schools; Mildred R.
Brooks for recorder, D. G. Drnger for
treasurer, B. B. Derrick, .lr., for sur
evor, A. M. Clough for coroner.
Three are endorsed by the republi
can and progressive parties. They are
U. G. Uoyer for clerk, W. L Xocdhnm
for sheriff Ben F. West for assessor.
The other candidates are Lylith M.
Canon, socialist, for clerk; K. W. Ross,
socialist, and E. A. Mover, prohibition,
for sheriff; John It. Moorman, prohi
bition, and John G. Steinbreuner,
socialist, for sheriff; W. A. Taylor,
socialist, for recorder; F. P. Reddiiway
socialist, and ('has. R. Scott, prohibi
tionist, for treasurer; L. (). Dudley,
socialist, and .1. T. Hunt, republican,
for county commissioner; T. V. McClol
lau, socialist, for coroner; Percy M.
Varney, republican, for constable Sulom
district.
JACOB HOCKETT PASSES AWAY.
Jacob Hockctt died at his home at
McKee yesterday morning, aged 75
years. He was a former resident ot
Woodburn, where he was a carpenter.
I Heart troubles was the cause of hi
'dentil. Deceased was a nntive of Iowa
children bv his two other mnrriiigos.
Growth of O. A. C. Work
Extends Into Many Fields
(K'T. Reed, College Kditor.)
Tho transparencies on view with this
exhibit represent scones in each of the
three grand divisions of the Oregon
State Agricultural college; namely, Ex
tension Service, Experiment Station and
Resident Instruction. The grenter num
ber of scenes will.be those on the col
lege campus, the buildings, lawns, walks,
and drives. Pictures of student frolics
will be intersperced with pictures of
student activities in laboratory, shop
and field. Cadet reviews will succeed
athletic meets or the procession of the
black robed seniors. Buildings in their
winter and summer settings, in the quiet
of vacation or the brisk stir of crowded
class intermissions, decorated for occa
sions, and illumiuated for evening shows
you will see them all, by groups and
singly. And as the pnuornma passes
before your mind, recollections will be
freshened, and enthusiasm will be kindl
ing in your breast for the State college
that you are helping to support, and
in which you hnve a permanent invest
ment. So you will doubtless want to know
soniething in the way of history and
of prospect that the pictures cannot
tell you. What has been the story of
this Oregon institution of higher learn
ing! Who is responsible for its growth
and its policies? What is its aim and
its course of study f : What are its stu
dents doing, before graduation and af-
I tort What has the future in store for
it
Sketch of the College.
The Oregon Agricultural College is
the outgrowth of the land-grant act
of 1SH2, which set asido in each Btate
certain tracts pi government lands to
be devoted to the support of an agri
cultural and mechanical college. The
first funds available from this net in
Oregon were given to Corvnllis Col
lege, an institution imported by the
M. E. church, South. In 1SH5 the
church gave over its control to the
state, mid the college has since boon
supported and controlled entirely by
state and Federal authority.
Up to IStOti, the year before Presi
dent W. J Kerr took charge of the in
stitution, the total enrollment of stu
dents was 8S3; last year it was more
than double that figure, amounting to
1074, exclusive of winter short course
students; this year, with tin entering
class of ".'ID on September 20, indica
tions point to an attendance of 2000.
Iu 1007 the fuoulty numbered 45; to-'
day it numbers over 250.
In lllOi the graduating class number-
ed llli; in 1015 it numbered 249, and in!
1010, .1.10. score and received the prize, Miss Nora
In 11107 the college plnnt consisted I Reck having low received the consoln
of three buildings of brick and stone I tion. Dainty refreshments were served
and five wooden structures; today there I by the hostesses, nssisted by Misses
are 17 substantial buildings of brick
and stone used for instructional and la
boratory purposes, and in addition an
equal number of farm and service build
ings. In 1007 the experiment station con
sisted nf six departments, nil located
at the home station; today it comprises
10 departments at the home station and
soven branch stations located iu differ
ent parts of the state.
In 1907 the extension service wn
not yet organized ut the college; today
itv comprises 11 departments, with a
staff of upwards of 30 members serving
nil parts of the commonwealth.
In 1907 the college owned 224 acres
of land in and adjoining Corvnllis; .
today it has 349 acres of In ml.
These facts attest, in a measure, the
material results of President Kerr's
dynamic administration of the col
lege. Progress in other directions can
not be measured in terms nf length and
breadth. But progress has been made,
nevertheless, of the most constructive
kind in raising the standerd of schol
arship, in improved qualifications nf
members of the instructiirnl staff, in
the enlargement of the library, labora
tory, and teaching facilities, iu the es
tablishment of student self government
jand a body of worthy student traditions
iand in fusing the efforts of all depart
j incuts into a solidarity for the service
I of the people of Oregon.
I Aim and Scope of the College Course,
j It is the purpose of the institution
i to train youths for citizenship in the
Republic and for the succeHswul pur
suit of the industrial professions and vo
cations. It aims, on the one hand, to
i uphold the best traditions of the land-
'grant colleges of the country, and, on
the other, to develop new fields of in-j
dustrial service. The broad scope of
its course of study is best presented in
outline, by the tabulation that follows.
While agriculture nnd engineering were
the two irrent fields formerly empha
sized by the land grant colleges, their
scope has been steadily enlarged, in re-1
spouse to popular demand, to include
noiue economics, i-oninien e, forestry,
Nigging engineering, and pharmacy,
Physical education, economics, the mod
ern languages, and all courses accessory
to the industries und essential to good
citizenship, have also been added. As
a consequence the courses in the land
grant colleges are todny recognized as
offering a complete education for Am
eiiean youths.
14, 1916
Character of Student Body.
Its students are a wholesome, demo
cratic body of young people. Sixty-
five per cent of thorn are wholly or
partly self supporting. - The student
ideals of the college are as ' attrac
tive and refined as in the best univer
sities of the land. Reverend Walter
T. Sumner, bishop of Oregon, who
spent over a week at the college last
sear, coming into intimate touch with
tho students, was surprised ut the fa
vorable comparison between our stu
dents and those of the great univer
sities of the east and middle west,
most ol which he had known very
wen. "i nave not seen," lie declared,
"a body cf men who seem to stand
stronger for integrity of character
and purpose than the men of the Ore'
gon Agiicultiiral college."
And these students, men and wo
men, conduct themselves as efficiently
on graduation as they do at the col
lege, 'i hey go into service of the U.
S. government, into universities and
colleges as teachers and investigators,
into the great industries of life ns
practical workers, and they " make
good.' lhe records of its graduates
are one of the glories of O. A. C.
Future of the College.
But the most encouraging thing
about the Oregon Agricultural col-;
lege, is the fact that all indications
point to a greater development in the
near future than the institution has
ever ki.own. Industrial education is
only on the threshold of its develop
ment in this country, particularly in
the west. The nation is making a
strenuous effort to insure the stability
of its industrial resources. Democ
racy is demanding for all the people
the rights of education i formerly en
joyed by only the few. Doth these in
sistent movements point to a grenter
future for the institution that is
equipped to build up efficient lenders
of industry, cnpnble teachers of in
dustrial education, and scientific work
ers in the industries that are utilizing
Oregon's natural resources.
BRIDE-ELECT HONORED.
STho home of Mr. nnd Mrs. L. M.
Bitney was the scene of a jolly party
Tuesday evening when their daughter
Misses H'l.el and Aletlia, entertained a
number nf friends for the plensuro of
Miss Delia Bock, a populur bride-elect
The room were prettily decoruted- in
strings nf hearts and cupids, ivy and
terns, rive hundred was played at fice
tables. .Mrs. H. M. Austin hold high
Norn Beck and Ethel Bonner, after
which the bride-elect was presented with
handlings, suit box, band box and lunch
basket, all appropriately decorated for
the occasion and filled with many beau
tiful and useful gifts. Mrs. Homer
Alleman rendered several solos which
were uiiich enjoyed. Miss Bock in to
be murried to George Lenox Monday
morning und they will leave for their
future home in Sioux City immediately.
Circling the tables wore the Misses Del
la mid Norn Bock, II (den Scullurd, Ethel
Bouncy, Lois Beobe, Liln .lermnii, Mary
Scollnrcl, Sadie Richards, Avon McKin
nov; Mrs. F. X. Beck, Mrs. Ed John
son, -Mrs. R. II. Scott, Mrs. F. W. Settle
niior, Mrs. Fred Dose, Mrs. L. Lawrence,
Mrs. II. M. Austin, .Mrs. Homer Alle
man, Mrs. I). C. Cowles, Mrs. W. II.
Johnson, Mrs. T. C. Poorinnn mid Mrs.
L. M. Bitney. Woodburn Independent.
DEAT HOF 3. C. WIGGINS.
John. Calvin Wiggins who had recided
near Woodburn the past eight years,
died October 4, Hllil, after a lingering
illness the past four yours. The de
ceased was born in Stevenson county,
Illinois, Murch 27, 1852. His wife, throe
suns and one daughter, all of Woodburn
survive him. The funeral services was
hold from the residence of McKee Sta
tion, conducted by Rev. L, C. Poor of
the Woodburn M. E. church, and inter
ment, was in Belle Crest cemetery.
Woodburn Independent.
STORY HOURS BEGIN
NEXT MONTH
The story-hour season will not begin
until November. The first one is set for
November 4. The children who are wait-
ing for it with anticipation will find
entertainment in the story books and
pictures at the public library to pass
away half hours they may not care to
spenil out of doors enjoying the October
I w eather,
m .
"My artificial teeth are so natural
, and lierlcct that they will uche." slivs
modern dent int.
Little Edna, who wns watching the
men working a piln driver opposite the
house, said to her mother: "I 'm so sorry
for those men over there, mnmma; they
have been trying and trying to lift thlit
big weight nnd every time they get it
almost to the top it falls right bnel:
again."
inr r-
riwwi wu
W as V.
Indiana Representative I ells
All About Rural Credit Law
Hon. Rulph W. Moss, of Indiana, in
the House of Representatives, Thursday
September 7, 1010:
Mr. Moss. Mr. Speaker, in the cam-
puign of l!l 12 each of the grout political (
parties pledged its membership to tho
enactment of rural-credit law. The
democratic party declared in its plat-1
form that rural credits was. of equal ,
importance with the question of curreii-
cy reform, thereby placing the interest :
of the farmer side by. side with that,
of the merchant and business man. The
national-bank law, which was enacted
by the republican party, grossly discrim
inated against the farmer. This law
remained upon the statute books during
fifty years of republican rule and ac
tually made it a crime for any national
bank to loan a dollar to a farmer and
accept u mortgage on his farm as se
curity. The result naturally was that
farmers during this long period were
driven to loan agents, trust companies,
and foreigu corporations to secure mort
gage louns. No farmer ever borrowed
a dollar on real estate mortgage secur
ity from any bank chartered by the
Federal government -under a law passed
by the republican party. .
One of Wilson's First Acts.
One of the first acts by President
Wilson's administration "was the ap
pointment of a commission to go iibroud
aiftl study the rural-credit systems in
the loading nations of Europe und make
a report to congress. . I felt myself high-
ly honored in being mimed n member of I
that commission. In compuny w ith my t
colleagues, 1 spent the summer of 1013!
in Europe; we visited evorv country
whose rural-credit societies were well
onrHniwd . n nil ninilM n l-eimrt tn emiir. I
I toss which embodied the luteal iiiforma-
tion on this subject to be obtained in I
nny country in the world. The coinmis-
moii also drafted a tenutivc bill on thisjates or shortly intends to operate tho
' subject as a further assistance to cong- mortgaged farm. No speculator rnn
ress. This bill was at once rovlsed bv get a dollar under any circumstances.
! the Banking and Curoucv committees (if
the senate and house. No time was at any on time. Thus the benefits of
wasted or delay permitted to retard the the law will go wholly to those who
progress of this legislation which hndown or may purchase farms and oper
been promised in good faith by the oto them personally and who desires onlT
Democratic party. In order to hasten
progress, congress crontod n special joint
committee, composed of -seuutors and re
presentatives, to sit during vacation,
with instruction! to report a bill not
Inter than January 1, Ml Hi. I also had
the honor to be a member of this special
joint committee and know the fidelity
with which every member discharged
his duty. The result was the framing
of the bill which is happily now a law.
Every democrat in both house nnd sen
ate remembered the pledge of his party
to enact this legislation, and not n sing
le democrat vote was east against it.
Five votes in the senate and ton in the
house were east against it by stand
pat republicans. No other groat meas
ure in a generation lins passed cong
ress with so nearly a unanimous vote.
Tins vote is not only n compliment to
the various committees which formed
this law but is emphatic proof that the
democratic party has given the formers
of the nation an efective rural-credit
law.
Gives Credit at Low Interest
The purpose of this law is to give
credit for productive purposes to farm
ers nt low rates of interest, for long
periods o'f time, nniVon easy installment
in repayment. The real problem before
congress was how to secure money so ns
to be able to loan it to farmers on these
favorable terms.' It is well known that
the national government can borrow
money in larger amounts and nt lower
interest rates than any person or cor
poration. This Is true bcenusR the na
tional government can issue n bond
which is more attractive to investors
than nny other credit instrument. A
government bond is known to be abso
lutely safe and nontaxable. For those
reasons the government can todny bor
row money on its own tonus nt throe
per cent interest.
The frnmers of the rural-credit Inw
took the government bond ns a model
for the now credit instrument- The
Federal fnrm-lonn bond will possess ev
ery advantage which a government
bond now carries. It is exempt from all
taxation; it is a legal investment for
nil trust funds under Federal law. The
system is closely nssociatod with the
Federal treasury, nnd the secretary of
the treasury is a member of the Farm
Loan board. The land is to be ap
praised by a government official, and
the mortgage will be held in trust by
the government to -secure the pnyment
of the bond which is issued against it.
Every detail will be under strict govern
ment supervision. Graft, uiisinnnage
uieiit, or speculation is made impossible
and the borrower can not be held up
for commissions uud exorbitant 'foes.
Finally, the secretary of the treasury
is authorized to deposit government
funds in Federal lands banks to meet
nny threatened default In payment of
interest or principal on FedeVul farm
loan bonds. With nil those exceptional
advantages these bonds will. sell in close
competition with government issues.
It is prncticnlly certain that they will
sell nt lower rates of Interest thnn state,
county, or municipal bonds. This
means a 3 1-2 per cent bond just ns soon
ns the public becomes educated to their
exceptional value and may give as low
as 3 1-4 per cent under conditions as
favorable iu the financial world ns ob
tains today. I confidentially predict
that the first issue of fnrm-lonn bonds
will soli readily at 4 per cent. I will
go farther and predict thut when the
Federal farm-land banks become well
established and the integrity of their
bond issues are fully proven, that fnrm
lonn bonds will sell nt pur, bearing a
rate of interest within one-quarter per
cent of thu current rate oii government
nrnn OM TRAIVS AND N1WS-
unu stands, riv csstt '
m m m m '
bonds. This prediction is fully bin no
nut in the world's history and will bu
vermeil here as well as in Germany',.
France, and other European "Oinitrier.
where ruriil credit blinking has long
organized. . - .
Low Interest, Long Time,
Now, what docs this mean to th
actual borrow erf Well, it means money
nt a rate not exceeding 5 per cent, with"
no commissions or renewal foes. Tho
cost of operating the system will anna
Imp to three-fourths per cent as thir
operating cost will tend to decrease -
as the volume of business increases. Tlio
interest rute on the mortgage can never
be higher thnn 1 vor cent above the iu
...... :.. ii... i...... i i .. .
icii-ni luiu ill lilt- j ji I iii-iuhii lllillll, US
the law fixes 1 per cent as the. higln'.t
margin which can be charged as operat
ing expenses. If that margin is charged
n ml tho expenses and reserves do nut
consume it all, the balance must be pro-,
rated as dividends to the borrowers.
The loans must always be given nt he-,
tual cost. The law sots no limit to tho
amount of bonds which may be issued
except that loans must be made to farm
ers in an amount equul to the issue nf
bonds.
The method of securing loans is very
simple. : The fanner npplies to the laud
bunk through his local association for n
loan and gives his note with a mortgage
as security, lhe bank files the nmrt-
gage with the government and sells a
bond on the market. The ' capitalist;
buys the bond and the farmer gets the
nimiey. Those operations w ill contiiino
as long s any farmer desires to sectiro
a loan. Every dollar invested in furm
loiiu bonds must be loaned to some far
mer to Improve his farm, to operate it
or to piirehase lam! to 'farm. No person
can borrow a dollns from a Federal
land bank except he personally- oiior-
No nin" can borrow more thnn $10,000
n moderato-sizoil loan; and the law.
makes ample provision to supply every
farmer in the United KtHtca uhn tunv-
coino within these limits and who nm.v
desire to avail himself of its benefits.
It plays no favorites. '
Five to Forty Tears.
Any loan may bo made for a period
not less than five yours nor more thnn
forty years, and may be repaid in nlmln
or in part, any time uftor the loan lias
run five years. No man need four a
foreclosure if he mukos his nun mil or
soiiii-anuuiil payment, and lie will never
have any renewal foes to pay. 1 shall
only point out one further feature of
large advantage to the borrower in this
law, and that is the installment plan
of repayment, commonly called aniiit
tiziitiou. I can best illustruto this by
taking the state of Indiana as nn ixum-
'pie- The fiuui-iiioitgnge iiidebtednoss
of Indiana is about 132,000,000 and tlio
nverage rate of interest is li.2 per cent.
This means that the farmers in Indiana
are paying an average of'i)i02 interest
every your on every thousand dollars
of their mortgaged debt without re
ducing the principal at all.
lhe laud bunks under the rural-credit
law will make loans which are to be re
paid in auiiuul or semi minimi install
ments. 1 will assume that the first
loans will be made in our land district
ut 5 per cent. The annual inten si
charge on flood nl 5 per cent is 5ii. If
n fanner who is now in debt were to
borrow money from a rural-credit bank
at 5 per cent nod would agree to pay nn
annual installment of ifliO.43, which is
loss tliuii the average nmount he how
puys in our stute for interest alone, and
would make this payment for 30 years
he would discharge h:s debt in full. He
will thus have repaid a debt of .il0"O
with .'I75.4S. This is what the new linv
will actually offer to Indiana farmers,
it means such a reduction in interest
rates that a farmer can actually pay
principal and interest of his debt with
less money than ho is now paying for
interest alone.
First Law for Farmers.
It is the first bunking law to bo hi
acted by the congress of the United
Slates dedicated exclusively to the in
terest of farm borrowers. It iimlvos
fin mors n preferred class of borrow in
and will give them money for produc
tive purposes nt a lower into of inter
est than any other class of borrow ma
can secure it. Thus the democratic par
ty hus redeemed its promise to ennet
n rural-credit law which will place a far
mer's credit on a pur with that of tho
merchant uud the business niun. Sk-u-ker
Clark hus said publicly that tho
rural-credits law is one of the three
greatest laws passed during this admin
istration. I am proud of this record; I um proud
of the part I have been permitted to
take iu the enactment of this law ; and
I am proud of my party, it hns fought
a good fight and has kept faith w:th
the farmers of the nation.
JIMMY HICKS HURT.
The Nwniison-teHin wnx passing ulmig
nt First and Grant streets nt a little be
fore I p. in. Tuesday when Jimmy Hieks
on a bicycle ran right in front of the
horses. The boy wus thrown down und
slightly injured and hi bicycle was to
tally wrecked. The front wheel of the,
rig passed over the boy's back. When
he was caught by the team young Hicks
was looking back at another boy fol
lowing him on a wheel. He Is the son
nf J. A- Hicks. Dr. Kettle fixed up tho
lacerations. Womlliuhn Independent.
.The Journal Does Job Printing.