Middletown transcript., 1868-03-07
? For die Midalao,rn rr.,n.er;;,,,


MEssRs. EDIroRs.-Your paper is fast
becoming the battle ground for clashing
ideas, and worthily is it, that the scene IS
removed to where reason has its best op-
portunity for reflection and calmness, and
on both sides, all being said, your readers
will eliminate the truth and decide to the
advantage of the contestants and them
selves. We have an organization among
us, about which there is a different
opinion and in whose favor there seems
to be used only the widest conjecture
and assertion, it is case for pure
mathematical proof yet queerly there is none
youchsafed, in the truth of the promised
benefit lies staked, or about to be the
future welfare of poor men. Now if
certainty can be obtained good to the
community will be produced, therefore,
our object which is to arrive, directly or
indirectly, at this result is commendable.
The nature specifically of the Building
and Loan Association in its practical part
needs no explanation, they are scattered
in this age of Gold Gambling and Oil
Stock Speculations over the land, but not
therefore for that reason are they unim-
peachable. We wish to hear an answer
to few inquiries. Why is it that this
great discovery, greater in its beneficiary
capacities than any introduction since the
Banking System, and second only to it in
Importance, gives no worldwide celebrity
for its vast results to its inventor in this
age when no history is lost?
Why is it not recommended by the head
centres of 6nancering as the medium for
the loan Of all money, regulating for the
interest of both, the communications be-
tween borrowers and loaners? WHY dc
not a considerable part of our funds pass
through this more than Midas-like institu-
ton, where the borrowers 6 per cent, is
tripled magically, for the satisfaction Of
the capitalist. Why cannot this prin-
ciple be introduced into mechanics, and BY
Improvements at last perpetual motion be
obtained. We see limited number of in.
dividuals engaged solely in money loaning
trading exclusively with each other en-.
riching, to usurious extent, part of them.
selves and not at the expense of others
and Of course at no one else's. It is with
out doubt, to illustrate, the anomaly of ,
man lifting himself over fence by tn,
straps of his boots, which. if accomplished
overcomes the difficulty in the way of per
petual motion, as / have stated.
One-half, probably, of the members d,
not expect to borrow. If the association
runs out in eight years they will realiz
about 18 per cent. Now, if we had al
association large enough, and the member
sufficiently patriotic, could not the Gov
ernment be loaned money at 2 per cent
and yet net per cent. to loaners, relievin,
an over-taxed people, by enabling a sink
: ing fund to be formed, which would sool
clear off the debt.
: Let us proclaim this thing, Messrs. Ed
itors, money is worth only 6 per cent
Let us make it plenty at 2 per cent. lie
: us pay off the National debt, and earn tn
blessings of postezity, and let us by al
means have from the wordy friends Of thi
: super-eminent invention, the figures, tn
mathematical demonstration of its feast
: bility and let the medium be your paper
3 We are well aware that our in some soI
description displays inconsistencies, bu
> they are necessary in writing Of the in
stitution, as many think they comprehen
it. So let us have no exhibition of th
t folly of this communication in words
Let it be attempted to be demolishe
(. where only it can be by the proof of
q mathematical statement. There has bee
lenough surmise and argument without sui
sanitation. INQUIRER.