The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1860-08-08
McGREG0R, IOWA, WEDNESDAY, AUGUST 8, $780,


"lSCOuS1u E0r" NOfB808e0.
In order to aid in building the Milwaukee
Il Mississippi Railroad, the farmers along
the line of the road mortgaged their farms.
The validity Of these mortgages being ques-
toned, case was made and carried to the
Supreme Court, Of Wisconsin, for decis.
ion; after hearing the arguments presented
by eminent counsel upon both sides, the
Court decided that the mortgages were
valid, the debt legal one, and that it must
be paid.
The excitement am ong the farmers
mortgagors-is most intense, and we notice
by our Wisconsin exchanges, that fears are
entertained that the bitter hatred thus en-.
gendered between the parties will yet lead
to the most direful results. Meetings of
the farmers interested have been held in
some Of the counties, where they have re-
solved to protect their homes by all the
means in their power, let the result be what
it may. They hold the r. r. Company re-
sponsible for this state OF things. They
resolved that they will not support any
man for Office who takes up a suit against
them denounce all lawyers who will help
to collect these mortgages, and they fur
ther resolved as follows:
THAT if DEGREES are obtained, and their
farms sold, they will hold John Catlin, E.
Il. Brodhead, -, f. d. Clinton,
.-,N N. Dewey, Jos. Goodrich, Eras.
tus Woolcott, Hans Croker, Anson Ed.
dred, - Asahel Finch, E. D. Hol.
ton and F. G. Tibbits responsible for the
sales, and they shall not go unpunished,
so help US God."
1t is natural that we should have some
degree Of sympathy for these farmers, who
are likely to suffer severe pecuniary losses,
if not lose their homesteads, and their little
worldly all, in this controversy. 1t is sad
spectacle to see worthy men obliged to sa-
crifice the result Of almost lifetime of
continued toll upon the altar of spccnIa-
ton.
But our sympathies should not run away
with our judgment. Remember, that those
men gave their mortgages in good faith, with
a full knowledge Of the facts involved in the
case; they went into the matter with their
eyes open and determined to build the road
Without the road, they were without mar
kct and from their own acts, it seems they
were willing to mortgage their farms and
take the risks. They done so, they gave
the mortgages, the contract has been de-
clared valid by the conrt of dernier resort
in Wisconsin, and We can conceive of no
possible benefit to be derived from the war
Of words now going on in our sister State
upon this question.
To the farmers of Iowa let this prove
a warning for all time to come. Do not
under any circumstances, mortgage your
if the region Of country in which you live
railroad to do its freight and
passenger business, there will be no lack
Of capitalists to build the road And if a
railroad cannot be built except upon mort
gages upon your farms, or village and coun.
ty bonds, the road is not worth building.
If there is 2 demand for road, if it will
pay, Eastern capitalists will invest in it;
but if it is doubtful town speculation af-
fair, you will he invited to risk your all in
it, and ten chances to one, the result will
be as in Wisconsin. We are sure that
this lesson will not be unhceded.