Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1870-02-22
For the Spectator.
TUESDAY MoRNrNa, Feb. 8tb. Is

@ TUESDAY MORNING, Feb. 8th, 1870.
Mr.. Spectator = The ground is covered with
greater depth Of snow than at any other time
here this winter, consequently we farmers can
not plow or work our teams, / have all hands
In the old shop washing and oiling gears, over
having tools to see that all is in order for our
Spring work. Thinking we will have good
home market for our products Of this and next
year, and must push for big crops to help me
out of debt. -, 8.
I Days like this we old men on the farm suffer
for fresh reading matter l have been over
hauling our last papers trying to find something
that had escaped me or would bear reading
over again. Among other papers [ struck on
yours of the lst inst. had read it all through
before, but my eye hit on that very interesting
article ito Us destors) by Hamilton in his
Mode of Relieving Debtors It strikes me
this idea Is good one and that the article must
have been written by man that had the real
interest Of us debtors at heart
Being myself mo chicken" SO far as age and
struggling with debt is concerned, Il have not
always lived in the Valley l have been asking
myself whether 'Hamiton's" plan would not
be liable to abuse. When I have money in
my pocket sometimes feel that instead Of
using it in the payment of just debt would
like to keep it, thinking may see something
L could buy for cash that would pay. Should
this feeling be common among us, would we not
give the note instead of the cash in all cases
when We could make the note go, and if we did
so would 1t not tend to too great al, imitation of
our circulating medium. have perfect hor
ror ot indulgIng in anything when the effect is
soothing and delightful for the moment, but
the recovery from the delightful feeling puts us
on the stool of repentance
That we have the best security, or as good as
can be made, Ithiuk there is 30 doubt just
as good as u. S. Bonds on which to base a cir
culatipg medium to sufficient extent to an
swer our purposes If we can manage to make it
available, viz our lands. What could be bet
ter than Valley OF Virginia lands Thieves
could not steal them. Now why can we not
make some use of this wealth to help us out of
our present, and think, temporary embarrass-
ment, without becoming intoxicated with its
effect. ages
Being an ignorant man. | can think of no
way TO accomplish our object unless we can ar
range to use notes secured by mortgage or Deed
of Trust on productive property only to the ex=
tent of one-foruth or one half the value Sup
pose | have bought a good property and paid
one-half OF three-fourths of the purchase mon
ey. The payment of the balance is secured by
the entire property purchased. Now divide up
whatever the amount may he due into small
notes payable on demand with interest at rate.
Then let our Recorder or County Clerk certify
on he face Of these notes that they are secured
mortgage. say make the notes payable on
demand, Of course | refer to such cases as exist
where the bond is due. [ cannot see that this
plan would in any way effect unfavorably either
the original debtor or creditor. Why would
not this plan work? Were it understood and
agreed that no other form of note should be
used for the object aimed at, | think we would
soon find ourselves actually working out of
debt 49, 6rsa aea
Our present situation puts me in mind of a
powerful steam engine caught in the center
All she wants is little help over. Then she
will push the noble ship through any storm.
Ii legislation Is necessary to make this plan
effective our representatives would do us more
good by arranging something OF this sort for
US than spending time and our money display
ing the spread Eagle. EMMETT.