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1936 › William Lemke (Union) › Farm and home mortgage relief

Refinance farm mortgages through the Frazier-Lemke plan (government-issued credit at low interest)

pledge_forwardspecific_pledgereportedevidence C AgricultureMoney, Currency & Credit similar solutions · similar reasoning

Solution

The 'inflationary farm mortgage bill' Lemke authored: federal refinancing of farm debt with currency issued for the purpose, blocked by the administration and the House in 1936.

Rationale

Bitterness over the administration's opposition to the refinance bill was widely taken as Lemke's motive for the Union candidacy.

The Union Party's platform text is not in the archive; positions rest on contemporary reports and Coughlin's broadcasts.

Statements (2)

1936-06-19 · Announcement of the Union ticket (United Press, Waterbury Democrat) · generalreported ✓ verified

A third party ticket, headed by Rep. William Lemke, N. D„ author of the Inflationary farm mortgage bill, en tered the 1936 president sweep stakes today

Source: Waterbury Democrat, June 20, 1936, p. 1 (Union Party platform) (1936-06-20)

1936-06-22 · Jay G. Hayden column, Evening Star · generalreported ✓ verified

Now, however, the Cough lin-Lemke group is stepping out ahead of him and proposing to go much fur ther in the inflationists' direction than he so far has been wi

Source: Lemke threat taxes genius (Jay G. Hayden), Evening Star, June 22, 1936, p. 6 (1936-06-22)

Follow-through

not_applicable

The refinance bill never passed; the 1935 Frazier-Lemke moratorium act was upheld in 1937 and renewed to 1949.

Reception (2)

news_coverageaccuratesalience medium Jay G. Hayden (North American Newspaper Alliance), Evening Star 1936-06-22

The Lemke ticket's threat lay in its appeal to Western inflationist sentiment; it put Roosevelt 'in a very tight hole' between radicalism and the middle ground.

The first threat to Roosevelt, poseo by the presidential candidacy of Mr. Lemke. obviously arises from its ap peal to the inflationist sentiment of the West.

Source: Lemke threat taxes genius (Jay G. Hayden), Evening Star, June 22, 1936, p. 6

news_coverageaccuratesalience low David Lawrence from Helena, Evening Star 1936-08-15

In the West the Lemke-Coughlin-Townsend tickets 'draw votes from Mr. Roosevelt rather than from Mr. Landon.'

For these third party tickets draw votes from Mr. Roosevelt rather than from Mr. Landon.

Source: Third party holds key to West (David Lawrence), Evening Star, Aug. 15, 1936, p. 7

Other positions on this issue

Government assistance to keep home-owners and farm-owners from foreclosure — Franklin D. Roosevelt, 1932 specific_pledge
The Federal Home Loan Bank system to stop home foreclosures and finance new homes — Herbert Hoover, 1932 specific_pledge
Reorganize and enlarge the Federal Land Banks to refinance farm mortgages; curb Joint Stock Land Bank abuses — Herbert Hoover, 1932 specific_pledge
Government aid to farmers and small home-owners against foreclosure and tax sales; moratorium on interest debated — Norman Thomas, 1932 directional_stance
Low interest rates, sounder home financing, better banking — Franklin D. Roosevelt, 1936 directional_stance

1936-lemke-refinance-farm-mortgages-frazier-lemke · created by claude-fable-5-1 · review: unreviewed