The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1881-11-03
4 Fact With a Moral.

During the late war, while hundreds
of thousands OF our soldiers were at the
front facing disease and death to pro-
tect and save the Un on, at a compen-
sation of from eleven to sixteen dollars
per month, b nix and railroad monopo-
lies were being incubated in Congress
to enslaNe and rob every soldier who
should be tOrtunate enough to pass
through the conflict and return to his
family. The National Bank act, and
the Pacific Railroad act and grant, one
comforting hundreds of millions of dol
lars of currency upon one ring of spec
uiators, and the other, a charter and
right of way for a railroad from the Mis-
souri, to the Pacific, with money enough
to construct the road, and land enough
to construct three or four, were acts
performed in the rear while the soldiers
were fighting in front After the waT
closed, a soldier of one OF the Pennsylva,
MIA regiments by the name of McGraw.
after returning to his home in Pitts.
time and opportunity occasioned by four
years in the service, by going West and
s.growing up with the country He
went to Nebraska. There he found the
Pacific Railroad in operation. monopo-
lizing all the land in reach of market
and civilization. To obtain land he
had to purchase his birthright, which,
during his absence in the army, the
Government he had risked his life to
save had given to the Railroad Com
pany. So he contracted for 16O acres
promising to pay $500 per acre. He
also found on the ground in advance
of his arrival the yoke fellow of the
railroad interest-the National Bank.
He paid down all the money he had
and gave his note and mortgage for
the balance on five years time. He
built house, planted his vineyard
and fruit trees, and made other valua-
BILE improvements. His farm was
doubling in real value each year. But
the two law created robbers had their
l covetous eye on his possessions. With
their emissaries in Congress and in the
East, they forced the panic of 1873.
E The Railroad Company put an embargo
. upon the farmers products, so he could
not realize even the cost of production.
His mortgage was coming due. Its
terms were inexorable. and it must be
paid, or his farm confscated. He sough,
t relief of the bank.
"Can you loan me ST., 800 TO save my
: farm?"
''PosSlbly we may accommodate you
e but money is tight"
"What interest will you charge mep'
, There are so many mortgages com
ing due about this time that we cal
j. readily obtain twenty per cent; shal
e have to charge you about that rate"
% The money was obtained, and tn,
!. farmer allowed to go on improving hi
e farm, planting more fruit trees, build
b ing more improvements and making hi
l. property more valuable. But In conse
!, luence of exorbitant railroad rates, an
Is the high rate of interest he was paying
e. he was not able to put dollar yea
Of into sinking fund to meet the prin
:, cipal of his second mort sage. 1t ms
:. :, tnred in due time. The bank refuse
IT to renew or extend it, and as low price
and high railroad rates had reduced il
value, The bank was permitted to bid
\. in under the mortgage at the price c
n, $1,000, thus robbing the poor soldier
alb the avails of his four years service j
ch the war and ten years. hard toll sine,
ty Chi ago Express.