, 1875-10-05


who caunot or will not go to private schools.
MORTGAGE DEBTS AND CHEAP MONEY.
The Cincinnati Enquirer publishes state
mcnt furnished 1t from Springfield, Illinois,
in which it is stated that tho firms and city
property iu Kansas, Nebraska, Iowa, Ainno-
sofa, Wisconsin, Missouri and ST. Louis, H.
linois and Chicago, aro mortgaged to tho
amount Of S200,OO0, GOO, md cries out ye-
hemently against the tightening grasp Of tho
moncy-lender upon the firms Of tho country.
In the list, Illinois. including Chicago, is put
down Mt sl15, 900 Without stopping to
inquire rs to tho accuracy of tho figures, no
propose to exnmiue tho magnitude Of this
mortgage business. The argument is, of
course, Tint these States will be ruined if
they nro compelled to pay these debts in
currency worth moro thnn 80 centa on the
.lollnr.
In Illinois, in 1874, thcro were in cultiya-
ton over 1900, 900 acres Of laud In
1875 they probably amounted TO 90,O0o,OoO
acrcs of improved land. Deducting from tic
sum Of mortgages sC5,oo0,ooo for Chicago
md other city property, tho sim claimed to
bo due on the lands Of this Stnto is :5O 000,-
900, The valuo of these improved lantls, in
cash, exceeds $40 per nero. We therefore
l,ave a mortgage of s5D,000,o00 upon pro-
sluctiye property, worth in cash 5000, 900, 100,
Tho grip Of tho oney-loneor is therefore
not 60 serious rs to be alarming! Without
toucling the land under cultivation or in nuy
way improved, VIC Aave in Illinois, in 1874,
9,0O0,000 Of acres of othor land uuin1proyed,
worth At low average $40 m aero,
and Of itself even at q forced salo
a!l-snilcient to pay the entire land mortgages,
with all tho State and municipal debts in i'd
dition. The ubiquitous and grasping money
lender can hardly DO aaid to hnye the State
Of Illinois within his graspl Tho ability of
the people to pay this debt is further shown
by their possession Of live stock to tho valne
Of s1s5, 100000, 80 that 1t would only tako
ono horse, ono mule, one or, ono sheep, and
one hog ont Of every four in the Stato, to
pay of ovory dollar Of dobt due on tho farms
Of Illinois. One-fourth Of the annual in
crease Of the live stock Of tho State would
discharge al the mortgages on lands IL. this
State eyon If tho currency should 60 to par.
Tho stnto Of Illinois haa 102 counties. The
oeVon'eentn eohe7csslonal A'stt'e' - sola'
posed OF nnls touf To eomntaes' anu one o. .nem
.a'a,e oos p noo .a ~ s,.'.a. sas nau. ~ do's'
o,o. 'os' 90 oon 49," T., 49,. .'st =. ooaoo ~ III
y. ..a .' q, mn aoroa IN a.a. ~ % 49, r'ooo soIes
=" s.s" ono o,ou' -; 1870 ,sa,ass, ~ . .saa poaue.s
.o-,oGo a.a,,@., a.' - aaa ] aoc mi p1ssaa. zo'o9o
"s4eo -. ~ s,s - 'A ~. 1900 .e'os ~ "ooa
auu .uo ,"",,:a .Aau ~ v ~. oa"e. 49, 49, y! t1's one
a'stf'cs' "e.ualas Luz Ase s'oe1' "as' IN
oAo sea!' s9aa' ~ -. ~, "uo.e sun ~, VI 'ne
~U, VI 's"s'' W .I, " - ~ ~ 'tHso - 11uo'S'
LUZ s"''o '".'' ~ 1uo 1,"4a..e' pu'a tno
nlone"ses W. 1"'a 4nuo' III aanneSosa ~
s"'ooo'ow' Ane fo'"'.so '1as'''saoe OF tals
| aont ID 1nNSt1asoea =! ~" ee.!aate tna1 Inc
STATE OF 'A'aaeso." WIZ. ~ 1o,"' nave sur
| Plus ctoP 70 se1 "o''a III oAhnesota Soo''
ooo'ooo' iae o9a1e tna' can IN q single yeef
ptoaueo' al1or supplylns Inc no. mono eaa oonsamp'
uon' susp'us "ota 9oo'oooooo can hafu49
10 sa'a to nave la41en INTO she grasp OF tho
money-lender' Inc people OF Minnesota,
Ake tho people OF Ahnols, Wisconsin, Iowa.
Nebraska, !ndlana' and Michigan. are pro-
ducers. They havo aBnTplus which they have
to soil annually TOR cash, and 1t Is important
to them that tue money they rece!vo Tor tAe!1