The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-06-17
240,000,000
0,000,000
5GO,OOO,OOO

Balance SEQ, 900. 900
That is, nearly two.thrds of the income Of
the four millions of agricultural proprietors are
absorbed by taxes and the interest on debts, and
the twenty millions of persons composing their
families are reduced to an annual average expen-
diture of % francs What wonder is it that
the arrears of taxes and interest are accumula-
ting at frghtful rate, that sheriGs sales are the
order of the day, that agricultural industry is
paralJ sed, and that intense misery regns among
the petty country proprietorsl
6. This state of things is gro wing worse daily,
the number of mortgages increasing. In 1910,
the whole number recorded was 5l9278,OOO in
ls47, It had risen TO more than 630,545,O00.
REMEDIES
The devising check to the great progress Of
the great evil | have so briefly and imperfectly
described, has occupied the attention Of the
French statesmen since 1920 In 1926, CASH
mir Perier proposed prizes for the best essays
on this subject Numerous discussions have
been devoted to it at the Institute, council of
State, ministerial councils and chambers Of dep
uties and peers Report after report have been
made to the government Bills have been pre-
pared and suffered to mldew among the neglect
ed projects of different cabinets Since Is48, the
national assembly has spent weeks in its discus-
sion. The numerous remedies suggested may
be reduced to few heads.
!. j. The forced circulation, as money, given by
law to mortgage notes. This might enable fu-
ture borrowers to get money on better terms,
but is not calculated to relieve those already in
debted, unless retroactive effect be given TO
the law. Such n measure has few friends
.. A large emissi of paper money This
idea is borrowed from the American State legis-
lation on banks, and the theory would be to
contract and expand" proper coniunctures,
so as to favor the debtors. Objections TO il nre
numerous.
3. A total or partial relief law, such as was
adopted in Kentucky after the last war, letting
the debtors go free on payment Of portion Of
their debts. This idea does not seem to please
any party here.
a. Assumption Of the debts by the general
government.
B. Granting greater facitiesfor forecosinq
mortgages and selling the land. Under this
system. TIE petty propretors would soon lose
their lands, which would be bought in bv tho
money lenders. If fully carried out. it would
result in nssimnting the French farm to the
German, and turning the small owners into n
peasant tenantry.
g. A kindred measure TO the last il tho
adoption of banking system for land owners.
OF which the principal features are to be.
borrowed from those now in operation in Ger
many This is the one proposed by the govern
ment and advocated by M. Chegarav. The re-,
port and the bill have been laid before the as
sembly. In mn early letter, I will endeavor to
give distinct idea Of the principal provisions If
the bill. At present, | will only add that
wherever this system has been ndopted--in
Russian Poland, Prussian. Hanover. Hamburg.
Baden and other places, money is easily obtained
at 81 per cent on mortgage, while in neighboring
countries It cannot be had for less than from
eight to fifteen. rcopceve TINT the agricultural
banks Of Germany merit the attention or Ameri-
can statesmen.
Yours, go. w. b,