The farmer and mechanic. [volume] (Raleigh, N.C.) 1877-1885, 1884-01-30
Two Letters, and the Fllnty Facts
they illustrate.

The letters hereinafter printed deserve
the careful considera - OF every reader
who cou~scientiously desires the pro.pen-
ty of our commonwealth. They present q
kew to our present backwardness When
Grant came to Virginia, after the repeat
ed disasters to the Federal armies, be
was asked for a remedy. More ntea, and
more moua said he. But how to get
them? You mat establish order, and
the. arouse puLlic conJfialc said he
These brief sentences, tell the needs 81
North Carolira's situation to-day. More
men, we need. More money, we want.
More order and system and public conf
dence, we must have. The two first will
not come without the last couplet.
The letters presented below, approach
the subject from two directions. The
first is from . Prominent and wealthy
! merchant. lie point, out the path where
| by 50 many of ur c liens make them
selves bondsmen, merely 'hewers OF
wood and drawers Of water to raise
| crops for their Financial hacker, "a
process about equal to lifting yourself off
| from the floor by pulling at your boot
straps! The United States Bureau ot
| Statistics, after careful research says nc
legitimate business can expect 10 earn
more than 1 per cent, as a regular thing,
| therefore when our farmers agree to pay
ten, twelve and fifteen per cent for sup
plies, they have little reason 10 expect tc
get out even Much less to make :
profit. Aud what a thing, in a country
like ours, to work all the year, for sim
ple food and ciothing2 But you cannot
blame the merchant for exacting heavy
discounts. He often is forced to borrow
from the banks In order to lend TO you
He takes an hundred risks, even if SURE
of getting paid. He incurs heavy ex'
pense in getting the goods and he would
always far rather sell his goods for casl
at small profit, than wait II months for l.
per cent.
But here we come to the second point
Can the farmer borrow money? He car
if his land title is sound and unlncum
bered. A Pennsylvania farmer told u
a few days ago that his neighbors coulC
borrow money freely at 5! to4 per cent
1t is 50 also IN New York, and New Eng
land. Why not in North Carolina? Col
Burgwyn's letter will explain why. II,
is a gentleman Of clear-vision, bushes
capacity, and knowledge of the world
His letter tells nothing new, but it fur
nishes a new and painful Illustration 0
an old story. Scores of men who came L
North Carolina to invest were driven OF
by the same spectre. A wealthy Phlla
delphia Land Agency last year got US t
look up some properties for them, but
only nibbled No man wants laGd a
even 20 cents an acre, if he has TO bu
$50 worth Of law suits per acre, in de
Tending his title. However here are tn
letters:
HENDERSON, n. G., Jan. %, Isl.
DEAR SIR: Yours received -wantin
to buy meat on cotton time for cotton
In reply would say we do not wish
sell meat on time for either money c
cotton. We never take mortgages
Have never sold a dollar III = years W
have been in business on mortgage
We contend that no business in th
world, farming or anything else, wi
!. justify the credit prices that farmer
have to pay who duy on cotton time
whether they mortgage or not. We 4
not doubt your credit: but It's best Il
both merchant and farmer to pay cdsi
IF YOU have not the money, borrow
and the difference between the intereS
and the credit prices Frequently 335 pc
> cent. over cash prices) will be goo
| profit to you. ours truly,