Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1860-06-30
The Farm Mortgages.

= A0 GILL mortgages.
This engrossing question which has
long been before the people of WiscoR-
sin, and in which everybody has ia
ken deep interest, has just been de
cided by the Supreme Court of the
State, affirming the validity and le-
gality Of the mortgages executed to
the various railroad companies in the
State. Notwithstanding the decision
will fall with crushing weight upon
hundreds of honest tillers of the soil,
yet it can be considered in no other
light than just and sound exposition
of the law, "maintaing the inyioladility
of contracts, and the necessity of abb
ding by them in good faith at whatey-
err sacrifice" Had these mortgages
been repudiated, the already bewilder-
ed credit of the State would have been
entirely lost, and she would undoubt-
edly have sunk TO so low depth of
dishonor, that it would have taken
years Of candid and watchful legisla-
ton to have placed her again on a
sound financial basis. Our corrupt leg
islatnre has for years past been the
means eff causing US to become the butt
of ridicule and the objects Of irony,
satire, and contempt even from those
residing in the most extreme southern
States. We hope that this decision
will have tendency to resuscitate our
blighted prospects, and help US to
emerge from that financial sepulchel
wherein we have been so long waiting
for a resurrection. There is not one
among the hundreds Of misled mortga.
gors that has not the sympathies Of the
whole people Of the State, with the ex.
ception Of those blood sucking specula.
tors who have been the means of pla.
cling our yeomanry in the embarrass
ing position they are doomed to occu
Ply. They Should be despised, hooted
at, and denounced by public opinion
for by their corrupt acts, they have
plunged the unsupecting into embar
rassment and financial ruin. while witt
the proceeds of their victims they rev.
ell and debauch in plincely palaces, re
CARELESS Of the ruin and unhapiness
caused through their instrumentality.
Below we copy from the beaver Dan
Citizen:
The Supreme Court on Tuesday last
gave a unanimous decision in the farm
mortgage cases, affirming their validi
ty. We have not seen the decision il
full, but it is certain that the announce
ment will be the occasion of a great
excitement in this and other sections OF
the State. While the interests of far
mers led them to hope for different
result, and their unfortunate connection
with the rascality Of railroad managers
has made them the objects Of very gen
eral sympathy, the sober Judgment Of
every man who has a true regard for
the credit Of the State will pronounce
the action of the Court righteous one.
Had the mortgages been decided in
valid, the stigma Of reputation would
have plagued the State forever The
Supreme Court has preserved our
State reputation, and is deserving OF
thanks for its action.
At the same time we know how deem
ly many Of our readers will be disaD-
pointed at this result. They have beau
tltul farms, which they have paid for
by their own industry. These farms
are the homesteds around which MANY
peculiar associations cluster. But for
the railroad encumbrances, every one
OF these farmers would be in flourish
ing circumstances, and certainly no
one could wish to see % large a class
OF honest and industrious men embar-
raised with an unjust load of debit
For any financial scheme which would
deliver the country from the oppress-
ions imposed by railroad svindlers.
without injury to others we should be
thankful. Bnt to look for relief through
reputation, thereby inhicting wron O
OF great magnitude on thousands of IL
nocent persons who have made invest
ments III these mortgages in good faith,
is a thought not to be encouraged, and
has been very properly denied by the
Court.
MONEY ABUNDANT.-The CHICAGO
Tribune says The demand for mon
ey has decreased immensely. AS COM
pared with years como hy horror,o.s