Mexico weekly ledger., 1878-03-07

Mr.. EpIroR: Having had occa-
sion to hear my views in regard to
our rate OF interest endorsed by that
class of people whose prosperity is
everybody's prosperity and whose
distress is eyerybcdy's distress. (the
fsrmer) / feel encouraged to discuss
now a subject of equal Importance to
everybody, and especially to the
farming community. NEAR our
system Of deeds oil trust. This, /
think, has done. more I" Cypress our
people and keep away immigration
than snythin. else, thus causing n
deficiency in our population, which
all the patriotic and self sacrificing,
efforts OF II public men cannot sur
ply. While this law places all the
advantages in the hands Of the lender
of money, it don't give the borrower
any show at all. Odious though as
the law may be, it would not effect
us as iujuriously if carried out with
a spirit of mercy and elemency. But
in most instances 1t is executed with
a vengeance aud all the vigor The let
ter ofthe law will adrnit OF. For i'll
stance, a stranger into our
midst, buys some property Or land,
pays half of the purchase money down
and gives his note, secured by deed
of trust for the balance, payable say,
in Il year or two. Now il the man
should not raise Is good a crop as he
expected or meet with some unfore-
seen misfortune, or reverse so he
can't meet the first years interest, IL
takes but q very short time to sell
him out and entirely turn him out OF
house and home. And what aggrs-
Yates the matter is the circumstance
that it las to he sold for costs, so that
only the holder Of the notes can, in
most cases afford TO buy it, and OF
course he will be very careful not to
bid more than the amount of his
claims, although the property may bic
worth twice or thrice the amount.
The man who has thus lost his all,
| will either remain with us-a pauper,
or if his means allow, return to hi.
old home, relate his experience ant
thus keep others from causing sucl
setting among us. In fact, it ha'
been charged that some CT u mon
eyed men will loan money on rea
estate with the very view of buying
in again for half or less than half o
its value. The interest and wellfar'
of our county and city demand
healthy and thii fifty transportation
We can't afford to stand idly by an,
see farm after farm swallowed up b,
our "nabobs," thus creating a elias
of landed proplietors, while the actu
oil tillers Of the soil are TRANSFORMED
into tenants and vassals, paying tri
butte to those very ''nabobs."
Our statute ought, therefore, to b
changed so that while it gives slnpl
security to the lender, it at the sam
time will give the borrower a chanc
to redeem his home, orr il soldit mus
be, it need not be sacrificed, but wi
bring something nearer its real yalu
so as to make competition possible
But, will our moneyed men and Ian
Z sharks say it this passes, nobody wi
be able to obtain a loan,
Il To that I say, with all WY heart
/ Amen Fori it would be by far, belts
| not to obtain a lean AZ all, than |
obtain it at snch a sacrifice. At Il
the same time they overlook The FAC
! that they are killing the goose viais
lays the golden egg.
Tosillnstrate / remember tile /
+ marks df a notedthnmorist and sat,
c-ist. He argues from the narrative
he liSls Il stsasins man. The L.