The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1884-05-15
"NoTICE TO FARMERS"
When and How ssFarmcrs Who Want to
Borrow Money" Can Get lt-T.lere
Are Two Methods, Both or
Which Are Fully
Explained.

In one Of our exchanges we find the
following advertisement published in
very attractive and conspicuous posi-
tion. 1t is an advertisement that is, no
loubt, well and promptly paid for
and yet we propose to publish it and
not ask a cent for SO doing. The nd.
reads
NOTICE 10 FARMERS or UNION COUNTY.
II may b come nee ssnry ut times for you,
as well rs hers, 10 borrow moncy--hencc
our notice. We have lat .ly completed ar
rangcsncnts enabling Us to oiler you the
cheapest and most desirable money ever Of
lerci in this county. When we say tho Oh, mp
II aud most fave rab'c to the borrower. We
understand lnst what IL means and will say
to you ii you are in need Of a loan we will
make II 10 your interest to Gull and see what
We can do for you. We Will make you q loan
for live years ut Sir Hr Cent, Hteirst paid
alnuui u, and give you the lrviIcge OF NY
ing $40 or any multiple FOR that amount mt
my interest pay day, thus enabling you @ re-
auuc solr Indebtedness, ut your own consen-
fence. We are enabled to furnish money on
short notice. Ii you do not have good title
to Your land no one tan make you loan,
hut ii you have, and want a loan, we can FUR
nish il AT ONCE without delay. You can
get Your money ut the lirst National Bank.
and ray your interest nj the same place and
thus IA o the trouble of sending your inter-
est away. We examine tie property on which
we make loans ut our own expense, and tell
you Immediately whether or not We can fur
nish tho loan. This Is new departure with
the Efrft National Bank. and we take this OPP
portunity II inviting you 10 call and get our
terms Ii in need OF mcncy. We know we can
furnish YOU the money on the most fasora-
bic terms ever offered III this county. There
is no red tape in connection with this money
and no unnecessary delay. Come aud see us
and satisfy yourselves In regard to our state
mcnts. FlNsT NATIONAL BANK OF Greston,
Successor t. $. II. Mallory & Go.
Now, then, the First National Bank
Of Creston has not the slightest feeling,
probably, that they are engaged in any
thing not strictly proper and upright.
Nor are they, rs the world goes. They
see no more wrong or improprietv in
loaning money to the farmers of Union
County than Shareholder of South
Carolina had twenty-five years ago in
selling lot of niggers to be shipped to
Texas. And We repeat that rs the
world goes there is nothing wrong in
thus enjoying the right to loan money
TO farmers.
The conditions of society, however,
have changed since the South Carolina
STAKEHOLDER sold his ringers on the auc-
ton block, so that now society would
be shaken from center to circumference
If it should witness that which was an
everyday occurrence twenty-five years
ago. And this shows how possible it
may be that, Notwithstanding the fact
that these men are engaged in an hon.
orable business, they may in fact how
ever lie guilty Of as great an oflense rs
was that of buying and selling human
beings with black skins.
But it was not the moral aspect of
the case which We started out to dis
cuss. We propose to discuss it in o
strictly business way, and, in doing SO,
will say not one unkind or unpleasant
word concerning the institution whose
advertisement we give this gratuitous
insertion. They are simply doing what
the peoples Legislative agents have
given them a perfect right to do. II
any one is to blame, it is the people
themselves.
Suppose the above "Notice to Far
mers had been issued by the Govern
ment, and the rate of interest fixed any
where from to 3 per cent. per annum.
If fixed at 3 per cent, suppose per
cent. of ii should go into the county
treasury on which the land is located, l
per cent. to the treasury of the State of
Iowa, and l per cent. to the General
Government-thereby saving the tax
payers that much taxation.
However. no matter what becomes OF
the interest imposed, suppose it were
understood that farmers of Union
County could get money ut rate of
interest not exceeding per cent, what
think you, Mr.. Banker? Would there or
| would there rot be rush to get the
money?
| Ii announced that the doors would be
open for the first time at 8 a. IN. the
next dav, don't you believe there would
be string of men mile long-aye, a
mile long standing before that door al
daylight in the morning, so eager would
they he to get the money at per cent
in order to square up the old mortgages
tighten up the burden and thus get out
of dcbtg
Who doubts it?
1t would he a good thing for the
mortgageor--and it would be good
thing for the taxpayers, for whether
the local or General Government get the
per cent. it would go into the treas
ury and thus save taxation.
Who then would be injured?
We can think of only one person.
and that person the First Nationa
Bank of Creston!
1t could not compete with the Gov
ernmcnt in the business, and as resul
it would have to contine its operations
solely to doing an exchange and dc
post business. Its calling as bank o
issue and discount would be gone.
Would the community in which tn,
bank is located suffer? No one wouls
suffer save the bank itself
Now, let us ask where does this banl
get its money which it offers to loan t,
the farmers of Union County.
| OF course we understand that
national bank, as such. has no right +
loan money on real est tie security; no
has it any right to loan money at usu