The clarion. [volume] (Jackson, Miss.) 1883-1888, 1884-02-06

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victims q this pernieious system Of torced
credit, buf the landlord aud planter him
self i forced - spuly IN the commercial
marts 70. loans 70 carry on his far nsng
Operations which forces him 70 an almost
exclusive CULTURE Of cotton, which finally
eventuates ii .the mortgaging of his lands,
stocks. de- Thsre Is only one remedy
notify the agricultural classes Of this State
that this system of credit will soon cease,
and all hands are driven by necessity TO
raising 8 suficiency on each farm of food
products, meat and bread, and the necessity
/ for applying to the merchant no lJngeE
exists-tbe cotton made becomes a surplus
crop and in the fall our land will be filled
with contented and happy populace, with
good clothes on their backs their smoke
houses filled with meat, their cribs filled
| with corn and with money in their pockets
1 suggest to Senator Burkitt an additional
mann: He that hath meat and corn to
sell hath money to loln.-
Mr. Packwood said: He was opposed to
striking out the second section of tie bill
as proposed By Mr.. Luse, for the reason, il
we did, that we leave the law as it existed
prior TO the enactment of section l359-in
other words, We would have the common
law in fail force and operation; and q
mortgage or deed of trus. given on an.
property, yet to have an existence would
be good in uity for almost any length OF
time, and would not be confined to prop
eFty to have an existence within fifteen
months from the time of the execution oil
the mortgage or deed in trus.. In repeal
ing this section let Us make our Legislation
efectual and pre- sent any lien from being
| given on any growing crops, or crops yet
to be grown, by repeating the statute under
considerat on, and excl lding toe view that
any mortgage or deed in trust ran be given
in any ereRt on any growing crop Or crop
| to be grown. He would submit a few OBJ
servations on the law which is sought to be
repealed. He was in fSvor of Is repeal to
take effect on the first of Je1uary, 1885, as
provided In the bill The time provided for
| its repeal would give all ample time to
| adapt themselves to the changed condition
Of affairs which the law would effect. He
| favored the repeal of the law, because it
would eliminate from our midst credit
resting, on an insecure basis, which is as
detrimental to the merchf Mt as to tbs far
mef. Its repeal would be promotive of
cash transactions. and credit resting on a
| Tangible basis and thereby insure a more
healthy trade. Many unreasonable advan-
tages had arisen VI Ter the law, and where
a mortgage is once given rnder this law it
generally necessitates n continuance of the
system to secure, unse listed balances, which
arise at the end of the year. So the old
maxim of the law, ''Once mortgage al
ways a mortgage" has a new application
under the provisions of the law we were
considering. The farmer who mortgages
under this law was greatly under the dicta-
ton of the merchant as to what crop he
should grow-which was mainly cotton
and in facS necessity under this law re-
quired him to plant cotton, and diversity
of crops, which is the basis of prosperity.
was out of the question. He was controlled
by law as inexorable as fate. and failure
of the favored crop from uncomfortable
events frequently proved disastrous to both
farmer and merchant. With the time
given in this bill for the repeal of the law
no disastrous consequences could ensue
And now, said he, let US repeal the law,
and see if the good consequences confident
~ expected will not ensue"