New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-03-15
The Land Question.


oar recent article On Irish Distress protecting
agains. one man owning that portion OF ihe eAi'u
winch another needs and he does not ana nus
comments:
we do 20. understand the suthor q ne s2o.s :.
beuz opposed 70 allowing savings banks ME az -
coyn.Jes end nryafe capitalists tneT pTessn' F's-s ~
end money aud take security for the repsy l
principal and interest on farming lands.
Ton might operate 70 check agricultural lnlo - w.
al 1resi ira oortancs not merely 70 VIE owners OF
lands (Which may need draining, or 9oe rernO' -
primitive forssts) but 20 the community A .-Ise. f
,ose Savings Bank loan 10000 on 100 farms =, "a
sversye Of A. 900 on each and 10 default OF psy nsh -
~ 49,, are osered for ssle BY the Sheriff WIN you
deuy tbs ocsrs Of the Bank the privilege Of Doolps
te. far and placing whole into the charge o. on
man Must not the future occupants Of .Ie my
"a .onsrts a. the vii Of one person. or Dshk -
We should be dad 70 see The InouGe clen Ip rs
dlo1y In is system for the ei'Posi'n o. 'zn'so =
tstesr
We think we have already been quite LUCID on
these points. bat, since there IS one who does h0'
comprehend az, we will try again
We do not. Of course, object 70 the legal coHec-
ton Of any debt according TO the laws e1is'ihs q
the time il was contracted but we do ooJect 70 INC
perpe.ostion Of laws allowing man TO shena'e' u
any manner whatever, the house over the heaos ol
his family without his wie's express assent As
.uraing tina. one dwelling house and ioEty scfes"
land with suitable out buildings are cssen'ial "
.lA i,4eoenoent and comfortable subsistence Oh
family. VIC would have so much set apart and cz'
empted from alienation by any legal process what
ever. Letshelaws be modified in accordance win
this nsnciplc and let time be allowed for every one
IN be made aware OF the change and then iet
whoever viii give credit know that ne does 90 On
the strength Of something else than his debtor
dwelling or 50 much Of MS land IS the law deems
essential 20 tie subsistence Of family beyond
this amount. LEI him sell Or mortgage Is be shaA
see nj.
HsBank Loan or Trust Company IS obliged 70
orecose mortgages and bid in property not within
the rule Aforesaid we only ask that such institution
be required 10 sell it again 10 some person VITO
needs land, that is, who owns less than the legal
n,axiourn-say 100, 800, or $40 acres within one
year from the time Of acquiring it-ln dels0t
whereof the State shall sell the land 70 the highest
bidder for the benefit Of the owner WegNe tnese
details in the rough-any others which Will ads'
ouately guard against the Monopoly Of the Soil by
the few. producing ultimately such calamities as
Ireland is now enduring, will satisfy us as well
We doubt, however the Americans sssump-
ton that the facility OF obtaining money on Bond
and Mortgage is, in the large view, benefit TO our
Farmers. Credit-Litigstion-these are
among the chief scourges under which our country
perpetualy groans Seven-eighths Of our People
are in debt and good part Of the residue are only
out because they cannot get in. Go into any farm
ing town--especislly any Western town-and you
may hear Of scores who want to mortgage their
farms to raise money, wherewith 10 build, TO i'm
prove, to pay of debts 20 send son 70 college or
something else. Now there are instances In which
loans obtained for such purposes are really and per
nanently beneficial; but we think these are out
numbered by cases in which the facility Of Dor
rowing proves serious injury to the debtor In
stead Of working out Of debt, he is constantly work
ing in deeper; his sons and daughters overdress
and live idle and his store-bill overbalances the
surplus product Of his farm. Mr.. President said
John Randolph once in Congress, starting quite
aside from his ostensibla subject IL have found
the philosophers stone II is 'Pdy-ds-yon--
eo.'" Now we have no fsnatical horror OF debt,
though some practical reason for disliking IT. but
we believe the facility Of getting into debt damages
more than il benefits.
But farmer mas n afSc ltlm III odu COnultiou
and wishes 70 drain, build, fence, 6c--how shall
he raise the meansr We answer, Let him sell
one half and with the proceeds improve the remain
der; he cannot do better-we care not whether the
farm be large Or small one Twenty acres well
cultivated yield more than an average New York
frm of two hundred. The saving in taxes, ienc-
ing, &c will be found by no means despicable.
But a young farmer has no land and no money
What shall he doi' Surprising him just OF age
We would say, Let him hire QUITO the best farmer
who will take him, even though poorer hack
would give him a dollar or two more per month
let him so labor faithfully for three or four years,
carefully saving what he earns, and he will now be
worth $500 TO $500. With this he can buy ten OF
twenty acres Of land susceptible Of thorough cult
walton and snug little dwelling-ii not where he
is let hin, 20 where he Let him resolve to
cultivate this thoroughly and bring into the high
est condition before buying more If he is prudent
and industrious, he will have the means OF buying
more hy the time he needs more. Pursuing TIM
course ne will live reer from anxiety sleep sound
err and leave a surer home TO his children than
he began on the borrowing and mortgaging system
At least, such is our opinion.