The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-08-15
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THE HERALD. DALLAS. yAAAS. Ssh BULLS

loans are made on suah uuq lestiona-
bic securities that they aye convertible
into money At the via of the lender.
II is true that Texas can furnish IN.
questioned securities. sud this fact is
becoming known abroad, AND in c0nse-
{ qnence money is being sent here 10 be
loaned, and the volume sent will in
crease from year To wear AZ This TACT
becomes more generally known, and
THE HERALD Is doing the country Il
great service in sgitating the question.
But The fact remains that Eastern cap.
ital largely regards Texas loans as
| venture, and contents itself with low
rates at home rather than take risks
for higher rates here. This feeling of
distrust Is largely due to our home
stead law, whose provisions are so
sweeping, aud at tbs same time so un.
defined, that even the most skilled
lawyer oitentimes is unable to say IN
advance whether q certain piece oi
real estate il embraced in the home
stead provisions or not. He may
think not, and the borrower may say
not; be may even In his application Tor
the loan swear thai it is not, and yet the
courts hold THAI IL Is, ahd In hat case
the lender loses his money, and the inn
preston is made aud daepens That real
estate security in TeXss Is q myth,
the consequence being that parties
VINO CsnfurniSh uequestloned security
! nave To pay e&orbiJaAt rates 10 mako
good the diahDnorable defg'cations of
Others.
Und + our present 81 stem men
may claim and have sol apart TO him
no Only the house that gives shelter
10 MS family, but also tho place where
be- does his CUISINE &, REGARDLESS of the
value OF the buildings, whether, they
DO worth 81, 600 or 100000. Such is the
construction placed OH the cOnstitu-
ZION by our supreme court, although
many able lawyers and members Of
/ The Constitutional convention believe
mat TINS construction is wrong, and
| that the true construction would be to
exempt The "piaco of business" only
when there was no homestead proper.
We believe that this was the opinion
of Msjor john Horny Brown, who was
% member OF the convention. But it
IN now 100 late TO csvil about con-
slruciions. We should turn our atten-
! tlon 10 the best mOde of amendment,
Tor IL is conceded that this liberality OF
exemption is unjust, both to tae debtor
and creditor. To the debtor, because
% az WOW pOlAill w Dlnu MS DlAee
OF business ne could often raise money,
I that would enable him to bridge over
hard season, when otherwise he
would have to go to the wall and see
the accumulations of life time sacri-
heed in the courts. IL is unjust To this
creditor, because no man has the right
IN morals and conscience TO
DO rich in fine residences
| ana stores nc the expense
of these who NAV have furnished him
the money TO build them, whose wife
and children may suffer Tor the neces-
saries OF life, while no luXuriates in
his handsome home and snaps his
finger at those whose kindness started
him In business.
a homestead law that would secure
10 family = home, not Exceeding in
value, say 5000, including ground and
house, aud so framed that the extent OF
tho homestead could he known from
tho county record, would meet the ap-
| probation or tho most honest-miuded
| people, anu would soon result in low
erlng our rates OF interest; to allow a
| greater exemption would be to encour.
rage this dishOneats and kuavery.
| trust that THE HERALD will on
large on the views here suggeHted, and
| continue the agitation until the law
making power makes provision Tor the
| change of the Homestead law, which
now, nut too often serves az the refuge
fOr knuyag ~