Oregon Measure Nos. 318-319, Rural Credits Fund for Farming-Related Purchases Initiative (1916)
| Oregon Measure Nos. 318-319 | |
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| Topic Agriculture policy and Bond issues |
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| Status |
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| Type Initiated constitutional amendment |
Origin |
Oregon Measure Nos. 318-319 was on the ballot as an initiated constitutional amendment in Oregon on November 7, 1916. It was approved.
A "yes" vote supported creating a Rural Credits Fund, funded through bonds, to offer loans with a five percent interest rate for the purchase of land, livestock, equipment, and the improvement of farming infrastructure. |
A "no" vote opposed creating a Rural Credits Fund, funded through bonds, to offer loans with a five percent interest rate for the purchase of land, livestock, equipment, and the improvement of farming infrastructure. |
Election results
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Oregon Measure Nos. 318-319 |
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| Result | Votes | Percentage | ||
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107,488 | 56.17% | ||
| No | 83,887 | 43.83% | ||
Text of measure
Ballot title
The ballot title for Measure Nos. 318-319 was as follows:
| “ | Constitutional Amendment - Proposed by Initiative Petition Initiated by the Oregon Referendum League: C. E. Spence, Master Oregon State Grange, Oregon City, Oregon; J. D. Brown, President, Oregon Southern-Idaho Farmers' Educational and Co-operative Union, Arlington, Oregon; T. H. Burchard, Ex-President Oregon State Federation of Labor, 829 East Eleventh Street North, Portland, Oregon. - RURAL CREDITS AMENDMENT - Purpose - To bond state for not over two per cent of assessed valuation of all property therein for "Rural Credits Fund." Bonds from $25.00 to $1000 in series of $50,000, maturing in not over 36 years, interest four per cent, exempt from taxes. State to loan said Fund to owners occupying farm lands, on mortgages not over half land value nor $50 per acre, nor less than $200 nor more than $5000 to one person, small loans preferred. Loans made for: (a) payment for land; (b) purchasing livestock and equipment and making improvements; (c) satisfying incumbrances incurred for such purposes; interest five per cent. --- Vote YES or NO. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
The number of signatures required for an initiated constitutional amendment was equal to 8% of the total votes cast in the last Supreme Court justice election.
See also
External links
Footnotes
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State of Oregon Salem (capital) |
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