Show UNFAIR TO PUBLIC tho the tax exemption feature of the federal farm loan act is ia to be tested in the courts it is contend ad that our constitution does not delegate to tha th government power to lorm organizations for private and individual profit loan money at less ihan ban current rates and exempt sue such h transactions from all forms of 0 taxation the bonds issued by farm loan banks organized sed under this act are entirely exempt from taxation and furnish a secure place tor for investors seeking to evade income tax the act places unfair obstacles and handicaps on the general banking industry which has to carry the load of the public and industry and pay regular taxes of all kinds the idea or of such tax exempt bonds to furnish money at less than cost for private gain to one class ol of borrowers borrowe rii Is I 1 repugnant to all american ideals |