Daily Nashville patriot. [volume] (Nashville, Tenn.) 1857-1858, 1858-01-02
Farmers Of wisconsin in a Tight Place.

One of the plans for building railroads in Wiscon-
su hiss been TO induce the farmers along the route
of a road TO be built, to mortgage their farms 10
the Railroad Company, and thsn the company sells
the mortgas. to raise the money, guaranteeing to
pay the interest end the amount OF the mortgage
when due. Those farmers who NOR gagged their
farms TO the La Crosse and Milwaukee Railroad, are
ust now decidedly in tight place. A correspon'
dent az Fox Lake rites the Milwaukee Wisconsin
as follows:
"A principal topic of conversation here is the
condition of those who have mortgaged their farms
for the La Crosse and Milwaukee Railroad Co A
very large proportion OF the most valuable land IN
this adjoining counties, is covered by these incum-
brauces and all the people feel common interest
in the question whether or not they are TO be
torecosed. Considerably more than half the days
OF grace allowed after the protest OF the mortgage
bond coupons before the mortgage shall be exc
cuted and the road pass out OF the hands OF the
Company have elapsed, and il lie much feared
III the Directors will not be able, II indeed
they are DESTROYS, 10 raise by the first OF
January, money for them, and Tor the interest ac-
cruing on the farm mortgages.
Should this he the case, and should the East.
ern holders OF these securities demand payment
from the mortgagers il can hardy be doubted that
they will be met by well ganiz dresistance The
legal question of the validity of The papers may
be very plain, but the question whether they can
be executed here, in opposition 10 the universal
public sentiment, aad 10y officers who derive their
power from the people, is not quite 50 clear.
1.-The farmers think and not without reason,
that they have been swindled. They were induced
to give their mortgages by misrepresentation, an
the money raised upon them has been misappro
prated. Ii may be very apparent to disnterest-
ed observer, that this does not prejudice the rights
Of the third parties, who have purchased them III
good iiith. But people here will regard them as
pdrtiespS erinNiS IN the not mu h more enviable
hight of ~esithy aud oppressive capitalists seeking
To drive ia5u lioorers from their homestesds
Coming tbhs as individuals from different places
with no community Of interest aud Obliged To con-
tend with the unite people, and under the dtSad-
vuntages of strong public appreciation, they vii
have but a sorry time OF It,"
The Washington County Democrat gives a case
II its knowledge;
s.In the town of Polk, farmer mortgaged his
farm for stock in the La Crosse Railroad, to tbs
amount OF 81 100. / be Democrat calculates that
with the interest on the mortgage, the future pro
battle valuation OF has farm, the present rates
of the stock, the farmer will lose e.. $40 by the
operation Our gricultural friend, tsays, is some
what ia the stu aton of u man who had eErag
ed siger by tue tan-exIremrly dangerous to no
Oh, ana cert in death TO let CO."
IL is said from 9, 900 10 900 farms are thu
mortgagea 10 railroads ia isconsin that the rail
roads cannot pay, and 20 release their farms will
strip Din.-tvn Lhs OF tbem of the hard earning o.
many years.