VII. CONCLUSIONS. The problems before the constitutional convention with respect to this matter will, of course be as to whether the constitution shall be so changed as to authorize a state system of rural credits, and also as to whether anything shall be done to permit further action with respect to farm tenancy. By Article XI, Section 5 of the constitution, the state is now expressly prohibited from engaging in the banking business in any manner; and by Article IV, Section 20, it is forbidden to loan its credit to any corporation, association or individual. The problem of farm loans, therefore, is necessarily a constitutional problem, and if the state is to be authorized to undertake such loans, these constitutional provisions must be changed. The present language of the constitution with respect to taxation also clearly prohibits the imposition of graduated taxes on large land holdings. If these matters are to be dealt with, some constitutional change is therefore necessary, and this constitutional change may be accomplished either by omitting present restrictions, or by placing detailed provisions in the constitution with respect to the matters sought to be accomplished. It is hardly likely that all provisions with respect to banking and with respect to taxation will be omitted from the constitution. The authorization of new activities here dealt with may be accomplished merely by rephrasing the present constitutional provisions. The problems of farm tenancy and farm loans are relatively new in this country and it is highly unwise to embody into a constitution detailed provisions, which may soon need change in order to meet changing needs. The Oregon constitutional amendment quoted in full earlier in this bulletin indicates the type of constitutional provisions that should be avoided. APPENDIX-REFERENCES. Carver, T. N. Economic Significance of Changes in the Rural Population. Annals of the American Academy of Political and Social Science, Philadelphia, XL, 21-25, March, 1912. Coulter, J. L. Changes in Land Values, Farms, Tenants and Owners since 1900. American Statistical Association Publications, Boston. XII, 472-475, March, 1911. Fairlie, John A. Needed Tax Reforms in Illinois. Proceedings of the National Tax Association, 1913. Haig, Robert M. A History of the General Property Tax in Illinois. University of Illinois Studies in the Social Sciences, Vol. III, Nos. 1 and 2. (March-June, 1914.) Hibbard, B. H. Tenancy in the North Central States. Quarterly Journal of Economics, Harvard University. XXV, 710-730, August, 1911. Hibbard, B. H. The Decline in Rural Population. American Statistical Association Publications, Boston. XIII, Whole No. 129, 85-95, March, 1912. Holmes, George K. The Sources of Rural Credit and the Extent of Rural Indebtedness. Bulletin of Social and Economic Intelligence, International Institute of Agriculture, Rome, April and May, 1913. Illinois. Agriculture, Annual Reports and Year Books of the Department of, (Between 1862 and 1888 the agricultural reports were printed as reports of the Commissioner of Agriculture; since 1889, as reports of the Secretary of Agriculture. The Year Books have. been issued since 1894.) Kinley, David. The Movement of Population from the Country to the City. Cyclopedia of American Agriculture, New York and London, 1909, IV, 113-119. Morman, James B. The Principles of Rural Credits. Rural Science Series, edited by L. H. Bailey, New York, 1919. Stewart, C. L. An Analysis of Rural Banking Conditions in Illinois, Chicago, Illinois Bankers Association, 1914. Stewart, C. L. Land Tenure in the United States with Special Reference to Illinois. University of Illinois Studies in the Social Sciences. Vol. V, No. 3, September, 1916. Taylor, H. C. Landownership and Tenancy. Cyclopedia of American Agriculture, New York and London, 1909, IV, 174-185. United States. Census Reports, United States Census Bureau, Volume on Agriculture, 1880, 1890, 1900 and 1910; Farms and Homes, 1890; and bulletins of the Thirteenth Census on Agriculture. Washington, Government Printing Office. United States, Treasury Department, Federal Farm Loan Bureau; Circular No. 3. (Revised) The Improved Farm Mortgage. A story illustrating the practical application of the Federal Farm Loan Act. Issued by the Federal Farm Loan Board, January 2, 1919, Washington, 1919. Circular No. 4. (Revised) (Revised) The Federal Farm Loan Act, with Amendment approved January 18, 1918. Issued by the Federal Farm Loan Board, August, 1919, Washington, 1919. Circular No. 5. The Farm Loan Primer. With definitions, rulings, and regulations of the Federal Farm Loan Board to June 1, 1917. Here you will find in brief form answers to the questions most frequently asked about the Federal Farm Loan Act. Issued by the Federal Farm Loan Board. Fifth edition: July 23, 1918. Washington, 1918. Circular No. 7. (Revised) Killing off Mortgages. A description of the methods of amortization and their benefits to borrowers. Issued by the Federal Farm Loan Board. July, 1919. Washington, 1919. Circular No. 10. Rulings and Regulations of the Federal Farm Loan Board to June 30, 1919. In Matters Pertaining to the Federal Farm Loan Act. Issued by the Federal Farm Loan Bank. July, 1919. Washington, 1919. Warren, G. F. Crop Yields and Prices, and our Future Food Supply. Cornell University Agricultural Experiment Station. January, 1914. |