The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1876-07-06
nrn 1900 LOTTO GEs.

TOADEO WAAAA - y - = = -
-. EJECT Of The Monetary Pressure
kim iss me East.
-e New York Herald publishes an
! y with General u. F. Butler, in
NJ ,,tob the following occurs:
Wiz T,Sa fact Is the people are in trouble,
Ave 5 are rot yet at the bottom point.
% 9pa dre not spending any money. con-
w. ster CAREFUL thought, that an av-
sl9sl' . u. for man, woman and
e ,.5S 4 40. We'll, that retSsnchment
en-. s.rtv millions Of people takes $4,000
O3o ooo out the general pocket. | make
w. w.. and YOU make prints My mills
s and my hands can't buy your
s .Yoths Then your mill stops and your
O osonIs don't buy my axes. And 90
throughout thewhole country. we are
VI m6rtgaged up to our eyes. II the
.. -.ror+v in New York city from the
E F;4b Avenue hotel up to Central park
-. sold to-day it wouldn't be able to
5;scbarpe it's mortgages. It's the same
srov-in Boston it's the same way every
,rbare Three years ago a client of mine
h1iIt two stores; one cost $4,000, the
other one hundred thousand dollars.
Thew gave him rehtal of twenty-eight
+bonssnd dollars. Some property in the
town was, by the death of two old maids,
tIrown suddenly on the market. My
client purchased it and borrowed ninety
thorsand dollars on his stores for that
,,rrnose Rents fell 90 that he was able
to get only twelve thousand dollars on
tho +tyog Interest and taxes made q big
hole in his receipts. Presently be couldn't
nav the interest, and he came to me to
Fnow If there was any law by which ne
couId compel the savings bank that made
tho loan to take the whole of the estate on
which the loan was made and discharge
him from the debt. told him knew
If none. Well, he struggled along fol-
dix months longer, and then said the
hank people were pressing him tol
the interest, and he feared he would
have to sell all he had to get out Of
tbeserape. Tt wasa hard case and J told
him as a last resort to say to the bank
for me that they must give him time
and. if not, to sell the property, and
would 20 before the people with thu
provable statement that they had beer
ioaning the peoples savings on Insult
Gent security They haven't sold hin
Out yet. -,..r -, 80,
these mortgages?
Certainly they are, and they can't ge
rid of them. A smart sctuary said to m
the other day, eff these people don
nav theirinterest I'll foreclose on them.
"Hold on" said I; "these people boz
rowed money in gOed-faith. It's matte
of lie and death with them. They
pay your interest just as long a
they possibly can. They'll raise an
scrape and turn and twist to do it. SUI
pose you foreoIose. You transfer tn
aggregate of their individual troubles
your shoulders. What they as intel
ested individuals can't do, do you expeC
to be able to do? They pay their oW
expenses and can't meet the interes
Can you so manage their aggregate
property as to meet expenses, taxes an
interest ~ 1t seemed q new idea
him. Why, the whole amount OF Gu
Eency in circulation is S5Q,O0OOOl
What's thatH 1t wouldn't pay in an
one day the total wages of the people
the land, and yet we talk about tt
effect of adding or taking away te
millions of money. What we need
work; and there comes in the Cuban an
Mexican idea. War would be pOpuli
both with Mexico and Spain. Money
always easy in war times. Everybody
flush then, and when we are flush '
spend money freely. Mexico would u
at least 81, 100000 of our Produ
tions in year. That was Grants M
take, If he had done that he would
day be master of the situation. I
didn't and he isn't. And here comes
the strength Of some unknown who
not responsible for complications or m
takes.