Page 3 of 3 Aug 1934 Issue of Albert Lea Freeborn Patriot in Albert-Lea, Minnesota

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Albert Lea Freeborn Patriot (Newspaper) - August 3, 1934, Albert Lea, Minnesota Frazier speech continued from Page one willing to pay for his Merci Tat disc How Long do >011 think ans merchant would stay in Bushi s if he did he could t last a year. A in order for the Farmer to break even we must have Lowet rates of interest. That Torether with the Cost of production would help put you on a paying basis. You also must have crop incur Alice against any kind of loss. This would be better for the business Man because the Farmer could pains Hills and buy the necessities of life. A Well never have Prosperity until something is one to boost the Price of farm products to give a Llast Cost of production. The Grain gamblers Are the ones w to now control the Price of wheat of you ship a car of wheat to min Neapolis the Price you receive ii based on september futures not on the Law of Supply and demand a Secretary Wallace admitted before our Senate agricultural committee that if the Farmers got parity prices they still would not be getting Cost of production. A i told him i hoped the Fame would keep up the fight until they forced Congress and the Secretary of agriculture to give them Cost of production. This remark met with the a plaits of the audience. Will scale debts the Frazier Lemke act. Its sponsor explained Wmk scale Down indebtedness of property to its present Market value or the Tarm it will be Given a five year moratorium. Lie will he permitted to buy Back the property at the new value at one per cent interest paying one per cent on the principal the first year two and one half per cent the second and third years five per cent the fourth and fifth years and the balance the sixth year. If a creditor objects to the procedure the Federal court May give til j a him a a five year moratorium and lha framer will be permitted to occupy tile place paying a fait rental and taxes and at the end of the five years be Given the right to buy Back the farm. A some will say it is unfair to those who have loaned Money the senator continued. A and it is sometimes. Hut in legislation a it want to do the Best thing for the most people and that is what Tho Anie Widm. It w ill the speaker told of serf conditions in the. South. Tenant farm is buy their food clothing and Thor necessities or. In tilt landlord lie said. A and the landlord sees that tin fan a r always own him soul tiring there is a Law Iii the Sou ii that a Fanner May not Mote from land v Here he owes the own re y Are slav. S. A they talk about their sacred property 1 v hts but i maintain human rights Are far More sacred than property Frazier spoke of the a spread Between prices the consumer pays and prices the Farmer receives a and asserted a they must lie liar rowed regulation urged a there is no reason Why the i ice of who at should not but regulated so the Farmer will know about what he is going to get to his crop. Henry fold makes cars to 1 1 Quot to and he known exam a what he will get o r them. If you Don t pay his Pio it you d not get his in speaking of High salaried lobbies maintained in Washington the senator declare d at the last session 5,000 lobbyists represent by All classes of Industry were camped at the Capitol Stet ring legislation. A those industries have the Money to Send tile lobbies to Wash Rig ton he said but the Farmers who represent the largest Industry in the nation had to or a dozen lobbyists representing them. The farm Holiday association the Grange the Farmers Union and the farm Bureau had representatives about a dozen All told. Hut other industries had 5,000 there. A most congressmen and senators Are under obligation to big business. Because their Campaign expenses Are paid by business. And you can to blame the Quot congressman or senators wry much. Suppose a banker Cam to you and offered you $ >,000 for Campaign expenses. An insurance1 company did the same thing. Arri0 on. You would be obligated to those corporations to enact favourable to them. We Are All the senator said he is the Only Man who has been recalled As governor of a state. It occurred he said when he refused to i it commend certain banking legislation and to use his influence Lor passage of certain Laws. He said he is a not one of those we o has a very exalted opinion of courts a judges Are Only human a Fie Aid a and they play politics. I used to have an exalted opinion of courts before 1 went into politics. But after i Learned How they hand picked juries i Haven t the Saim respect for attorney general Peterson san lie knew some of the lobbyists about whom Frazier had re forced. A i ii ave seen How their lobby works a he said. �?�1 was asked by la state tax commission to to in Washington that National and state Banks should 1 0 taxed on the same basis. The american Bankers association gets out a report every year. Because the National government gives them governmental Powers to carry on a private business for private gain they contend they should not be taxed As the stale Banks Are. Hanks opposed Bill when i was in Washington i saw the same crowd at the Bank hearing s j eat i have seen it the moratorium a rings. They were opposed so the moratorium too. The Daw Batik in Chicago grabbed of to millions that have not oven r paid As yet to the insurance companies got preferred treatment the railroads got theirs. And when the Farmer came along and asked for the same privileges they immediately started talking about th1 sacred right of Peterson said the Frazier Lem kit amendment will Stop foreclosures and will eradicate deficiency judgments. There Are More than to billion 500 million Dollar Worth of farm mortgages he said and 650 million dollars of mortgage in Minnesota. Under flu new amendment the debt will be scaled about 12 1-2 to 15 per cent he asserted. It will mean a saving of about $100,000,000 in Minnesota. I his office is preparing a pamphlet explaining operation of the Law and will be available to All who request it. Other questions will be answered also he said. A when Farmers were losing their Homes in Minnesota when til y were fighting desperately to save them where was the Republican party a lit1, asked. A when the real fight was on they were with the Chain banker and the in u Rance company and other ape Midway a Firestone tires tubes Brake uniting batteries amp accessories spark plugs a a a motors re bored welding motor blocks boiler sections gears and castings of All kinds a a a Skelly gasoline the Only Gas that is i test i octane and tailor made for this locality. A a a frames and axles straightened continued on Page to Wallace favors child labor amendment in an article appearing in the july Issue of the country Home Secretary of agriculture Wallace takes occasion to denounce the tactics of some of the industrialists who Are fighting the propose child labor amendment. A i wrongly favor tile proposed child labor amendment to the Constitution which is Nowr Bein submitted to the states a declared the St 1 \. It is designed to protect. If Dien from industrialized and commercialized employment which endangers their health and inter i rec. With their schooling. Powerful business interests soul of hem Semi agricultural bitterly oppose th1 idea of giving children 1 his Protection. They Are passing the word around. Farm boys anti farm girls will no longer be permitted to help with the chores and that farm parents authority Over their children would be seriously undermined. Thai is nonsense every fair minded person who knows anything about the impetus Back of the proposed amendment knows it is nonsense and so do the people who Are trying to spread the false alarm

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