The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1884-02-21

| is intnOssiDie fer us tONo a0y husi
ness of this kind, eynpt in places
where we can assure our customer
that their titles are safe beyond {
+ qles' son. [ r'-sT>. very much tlia
we have been forced to this conclu
SION, for had looked ftrward will
pleasure to a connection hat wonlC
be mutually profitable. Ifyour legis
fature should a. Year make any
changes | should be glad to hear from
/ You in ratasssas. x..,ssi au. IS -
Here is mi, stf forlhe oest law
yers to consider. Can they rot Sc
cure sucn charge in the laws as
shai! invite rather than repel capi.
tai? In the NsIrtn money is very
cheap. Any man can borrow upon
good collateral as much money as he
needs at not mrre than four per
cent. In North Carolina he must
pay from 8 to l5 per cent. The re-
suit is farmers are compelled often
to buy goods on credit, mortgaging
all hey have to DO so, and paying
from Is to 20 per cent. more than
shey would pay if hey had the cash.
The Farmer and Mechanic say> :
1.-THE United States Bureau Of Sta
tisticS, after careful resealch says no
legitimate business can expect to
earn more than per cent. as a reg
uIar thing; therefore when our far
mers agree to pay ten, twelve and
! fifteen per cent. for supplies, they
have little reason to expect to get
out 'even.' Much less to make a
profit. And what thing, in coun-
ty like ours, to work ell the year, for
simple food ard clio h1g? But you
cannot blame the merchant for ex-
acting 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 expense in
getting the goods: and he would al
ways far rather sell his goods for
cash at small profit, than wait II
mouths for II per cent
"Bul here We come * the second
point. Can the ftR+Tnae%- borrow
money? He can if his land title is
suu1Id and unineu7r sIr' !. A Penn
! syivania farmer told IL few days
ago that his neighbYrs could borrow
money freely at 81 to 4 per cent.
1t is SO also IN New York and in
New Eug land. Why not in North
Carolina? X A wealthy Phila
adelk hia Land Ageucy last year got
Us to look up some properties Tor
them, but-only nDbled. No man
wants laud at even - cents an acre
if he has to pay $2e worth of law
suits per acre in defending his title.'
The Henderson merchants have
declined to sell to farmers on time
Tney do not want mortgages. They
! prefer to sell Tor casn. But farmers
! with defective titles 10 land can moi
bore W. A leading house wrote to 8
farnler declining fils request for sup
plies Oh time. He SAID - f1im:
We contend that no buslbess in
the world, farmiEg or anything else
will Justify the credit prices that far
mers Eave to pay w.o buy on cotton
time, whether they mortgage or not
We do not doubt your Gre, Ii but il
is best for both merchant and laImtl
to tay Cash. If you have not ths
money. borrow ii, and the difference
bei Ween the credit prices frequent
~ 33 | per cent. over caoh prices
will be good profit to YOU"
liere Is an excellent field for prac
tical Il sioiation. L farmers are 81
behind hand that they must b in
dulgtd and cannot operate excep
by giving mortgages On real estate
then the laws ought to be so simpli
fed and regulated as to make trans
actions easy, certain and satisfactory
! L.