The Canton mail. [volume] (Canton, Miss.) 18??-1882, 1876-06-24

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The New York Herald PSublishes an
Interview With GenefalsB f. Rds4er, ~.
which the following ecccarsss Ssaz|=sr
sThesfacsRis the people ase in trouble,
and we are not yet at the kottem Raiut.
We aresaet spendips any money. 4 con
SdeS after careful thought, that 40 az ';
erage retrenchnIent for man, woman and
child IS $50. Wen, that fetrenchment
BY forty millions q people taEe4$s $685.
o0e, eco OUT the general pocket..s hsake
axes asnd you make printss My mills
stop~and my banda can't buy your
cloths. Thenayour mill stops aud your
people don't Luy, my axes. And 50
throughout the whole country, We are
all mortgages, up to our eyes. IF the
property in New York city from the
Fifth Avenue hotel up to Central park
was sold to-day II wouldn't be able to
discharge it's mortgages. It's the same
way in Boston it's the same way every
where. Three years ago q client of mine
built two stores; one cost SOC, 900, the
other one hundred thousand dollars.
They gave him rental of twenty-eight
thousand dollars. Some property in the
town was, by the death Of two old maids,
thrown suddenly on the market My
client purchased it and borrowed ninety
thousand dollars. on his ssores for that
purpose. Rents fell 20 that he wass able
to get only twelve thousand dollars. on
the two, Interest. and taxes made big
hole in his receipts. Presently he couldn't
pay the interest, and he came to me to
know II there was any law BY which he
could compel the savings bank N atinade
the loan I'd take the whole Of the estate on
which the lean was inside and discharge
him from the debt I told him knew
Of none. Well he struggled along for
six months longer, and then said the
bank. people were pressing him for
the interest, and he feared he wouh
have to seif all he had to get out Of
the scfape. 1t was hard case, and Isteld
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 go before the people with the
provable statement that. they had been
loaning the peoples savings on INSULT
Gent security! They haven't sold him
out yet. ''''7'A 80 T. @a<'-
Z Are the eastern banks loaded with
these mortgages faFit swf sd, .ss4ij
SCertainly they are; and they can't get
rid of them. A smart .actusry said to me
the other day, If these people don't
pay their interest I'll foreclose on them"
|" Hold on" said :" these people Dor
rowed money in good faith. It's a matter
Of life and death with tsem. they'll
pay your interest Just long as
they possibly 2caf. sSTheyHl raise and
scrapes and turn and twist to do it. Sup
pose you foreclose. You, transfer the
aggregate of their individual. troubles to
your shoulders. What they as inter
ested individuals can't do, do you expect
to be able to do? They pay their own
expenses and can't meet the interest.
Can you go manage their aggregated
property as to meet expenses, taxes and
interest p, 1t, seemed a new idea to
him. Why, the whole amount Of cur
rency in circulation is $4,000, 900.
What's that? 1t wouldn't pay in any
one day the total wages Of the people of
the land, and yet We talk about the
effect of adding or taking away few
millions of money! What We need is
work; and there comes in the Cuban and
idea. War would be, popular
both with Mexico and Spain. Money is
always easy in war times. Everybody is
flush then, and when we are flush we
spend money freely. Mexico would use
at least $4,000, 100000 of our produc
tions in year. That was Grants mis-
take. If he had done that he would to-
day be master of the situation. He
didn't and he isn't. And here comes in
the strength of some unknown who is |
not responsible for complications or mis-
takes.
PARIS has population of about ono
million eight hundred and fifty one thou
sand, who dcvour, according to statistics, |
twenty-one thousand tons of game of all
kinds annually.