The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1878-02-22
A kefntatiOn.

We publish by request of an esteem
cd subscriber in the west the following
item, taken from the rnter-Occali''
published in Chicago, together with
reply to the Same by Mr.. G. Scroggs,
of Champaign, Ill.
careful examination just concluded here, o.
the landed debts OF Champaign county, shows
that on an average nearly one-haf of every farm
in the county is owned by Eastern capitalists; OF
in other words, that the entire body of land il
mortgaged to nearly half its value to Eastern men
The recorded mortgages ON land secure about
$4,000 900. and the entire assessed value of rea
estate is sll,300.O00 This Indebtedness pays al
annual interest of about $GO0,O00, and the same
land pays tax of $4,000, or about 60 per acre
With poor crops for four years in succession this
vast tax, amounting TO S22.50 for every man and
child, has almost bankruptcd the farmers Of Ill,
county.
This is gross pervcrsion of facts. II
is a misstatement which is calculated to
do this community great wrong, and the
fact that your correspondent has been
misled by those ignorant of the true
state of affairs, is at best poor excuse
1t seems to me that any man with three
grains of common sense would know
better than TO publish n statement OF
this character-a statement from which
no good can possibly come, and from
which harm has already come. 1t is
true that this county is suffering the
results which follow three or four cror
failures. This is bad enough. without
being further embarrassed by false re.
ports circulated by men who are pro.
fessional grumblers, if not professional
lOafers.
1t is stated in the above that the mort
gage debt is $4,000 600, and the assessed
value of the real estate of the county i
81 300 900. In answer 10 this, il
might be enough TO say that the rea
estate of this county is assessed at about
one-third its cash value. | know OF
farm lands which were last year asses
sed at so TO Sl2 per acre which only
recently sold for $50 per acre cash
This of itself shows the talsity and un.
fairness of the figures and comparisons
The correspondent also studiously omit.
ted the fact that many of the recorded
mortgages here have been paid off and
the releases not yet recorded.
There is no reliance TO be placed on
the statement that the mortgaged debt
is $6,000,000. From the first these
figures were never more than the esti
mate of one not over well informed
and, if true, the interest would not be
5000, 600, for the reason that the money
loaned out here has, of late years, beer
let at z, 8, and per cent.
The statement as to the amount AN
(nHally raised by taxation is equally
false. Our county treasurer is by law
required TO give bond in double The
amount of the total tax levy, and hii
bonds are for $4,000 Besides, of The
amounts raised by taxation, most all o.
it is expended right here at home. ANY
resident of Champaign or Urbana who
has examined the matter, knows tina
nearly if not quite one-half of all h,
pays in way of taxes is for city an6
school purposes. The money LEVIED
for county, township, city, school, road
and bridge taxes is mostly expended
here among ourselves, and is thus II,
drain upon the community.
Much of the mortgaged debt of thi
county is upon town and city property
but your correspondent is led still fur
Their by his ignorance, and tries Il
spread the whole of this over the farm
lands. Neither does he make mention
of the fact that much of our bonded deb
has been paid of, and of these transac
tons the law requires no record, an,
no official recognition Is made of th,
payment further than 10 destroy In,
bonds or coupons so paid.
That the elements have been, TO
several seasons, against us, it is true
but that our people are all bankrupis, o
the county in any such condition u
represented, we deny. IL is TO be re
GREETED that the parties at Urbana VIII,
gave publicity 10 these false an,
damaging reports have not some bette
business to employ their time. In thi
have but spoken the sentiments of TN
people of this community, who ar
justly indignant. Yours respectfully
Champaign, ILL.,, Feb. 0. G.S.