The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1888-11-02
A GREAT CRIME.
Governor Martin Denounces the
Democratic Circular.
The Document Passes Far Beyond the
Bounds Of Partisan PolItics-A Politi-
cal Libel with Figures as False ~
They are Hurtful

Indebtedness" the municipal bonded in
debtedness- except school, y and the las
sessed value Of the real estate of Kansas
for 1sSs." He spoke very bitterly of the
publication. He said:
This document passes far beyond the
bounds of partisan poiitics-it is a polit-
ical infamy. The man who, for a sup
posed political purpose, would thus ira
duce and defame Kansas, and destroy the
credit of the State, and of its citisens, is a
public enemy, and ought to be so regarded
by every decent citizen of the State.
in the first place, there is no more con-
nection, direct or indirect, between the
amount of the mortgage Indebtedness of
our people and the bonded indebtedness of
our municipalities on the one hand, and the
tariff question en- the other, than there is
between Cleveland's vetoes of pensions on
the one hand and the theory of evolution
on the other.
at is fact too, that two-thirds of the
mortgage indebtedness of Kansas was in
CURED, not because of the poverty of those
who borrowed money, but because of their
firm faith in the growth and prosperity of
the State. To illustrate: John Smith has
$1,000 in cash, and his neighoor owns a
farm or a town lot he offers to sell for
S3.ooo. John Smith has faith to believe
that the farm or lot viii be worth 5000 in
year or two. So he buys the farm or lot
for $500. pays $1,000 cash. and gives his
note, secured by mortgage on the farm or
lot, for the remaining 5000, but the farm
or lot is worth all he gave for it and could
be sold any day for that price or more.
No figures paraded BY q political COM
mittee for a mean partisan purpose can
make John Smith believe that, because of
this transaction he has been robbed by the
tariff
Another illustration: William Jones
owns lot in some prosperous Kansas
town, worth 81 500. He has, also, s. 900 in
cash. The lot vacant, is unproductIve.
He borrows 8, 900 at 10 per cent. securing
the loan by mortgage. and with this i, 600
puts up building costing SlG33. which
rents for SO per month. The mortgage
don't make William Jones believe that he
is beng robbed By the tariff. If some
Democratic statesman would tell him he
was robbed. he would be verv apt to reply
that the ID mocratic statesman was either
lunatic or a liar. Because he knows that
he has valuable property. paving the in
terest on his note, taxes and insurance
and. in addition, fully II per cent. on the
total value OF his property, viz, Si5N.
"Sdll another illustration: Farmer
" Hams came TO Kansas. ten or fifteen
V ars ago, with only SEQ. He homesteaded
o. pre-empted I69 acres of land. He has
improved it, built himself a comfortable
house and barn, has horses, cattle and
hogs and $1,000 in bank. He has chance
to buy an adjoining 100 acres at SIS per
acre, or $1,000. He borrows 3, 900 at eight
per cent, securing the loan by mortgage.
and adding the amount to his S1.00 in
bank, buys the coveted quarter section.
1t is worth every cent he paid for it, and
he knows that he can make out OF it every
year, twice the amount of interest on his
note. No Democratic statesman can con-
vince Farmer Williams that because Of
this transaction, the tariff has robbed
him. If any Democratic statesman came
to him with any such story he would be
apt 10 reply as did the old Philadelphia
Quaker 70 man who dealt in similar
stories. Said the Quaker: Friend John.
if the mayor of Philadelphia should come
to me and say: Friend Williams. wish
thee would bring to my Office the greatest
liar in the city, | would hunt thee up.
II end John, and would put nv hand on
thy shoulder and | would say to thee,
Friend John, the mayor wishes TO see
thee"
"Two-thirds OF the mortgage indebted
ness of Kansas was, as | have said. in
CURED by just such transactions as these,
and it represents, therefore not poverty
and distress. but the confident faith of the
people of Kansas in the growth and pros
perity of the State.
But the figures in this political libel on
Kansas are as false as thew are hurtful to
the State. l do not believe that the mort
gage Indebtedness of Kansas will aggre-
gate Si5,00o.coA, or, in other words il is
not oue-third the amount stated in this in
famous and mendacsous attack by the DEM |
ocratic State Central Committee on the
credit aud good name of Kansas and her
people. l know that the pretended re- |
ports from many counties give figures that !
are grossly exaggerated. and l 90 not be- |
lieve that the figures, in a single instance, |
are either official or correct Living dena-
gogues, who would ruin every interest of |
the State to secure a few hundred petty
Federal offices. have furnished them. |
drawing upon their inaginations for their |
facts
This Infamous and mendacious cam |
pa.sn document, issued 10 deceive the /
credulous and ignorant during political /
contest, will be quoted all over the United /
States by enemies OF Kansas Every /
State jealous OF the splendid DEVELOPMENT (
and growth Of Kansas will parade these |
shameless lies a. evidence Of the fact that /
Kansas is bankrupt. Thousands Of people |
and millions of capital will be kept out of .
Kansas by this infamous publication.
Every man in Kansas who owns farm.
or town lot, or Is engaged in business of
any character viii be pecuniarily damaged
b,-- Ii, -
political purpose. In brief, this pubiica-
ton passes far beyond the bounds of
partisan po!itics--it is simply the act of
public enemy, who ought to be treated as
such.
'W Wherever figures have been obtained.
have no doubt that the so-called mort
gage indebtedness includes the railroad
mortgages For example, every railway
company in the State having mortgage
bonds has TO record such mortgages in all
the counties through which its line passes.
II the mortgage is for -, eoO, 900, and the
company's line travsrses twenty counties
the mortgage for ~ 000. coo is recorded in
the Office of the register OF deeds for each
county. Aggregating al these records
and the amount is swelled to 81. u00. 900 on
q debt which is really one-tweatieth that
amount or =. 100000.
MANY mortgages, too are given TO Sc
cure the payment Of Indebtedness payable
by annual installmeat- That is. citizen
b0rrows 5000. and gives four notes IN
equal amounts, one payable in one year,
one IN two years, one in three years. and
the last IN four. The mortgage to secure
these notes covers the full amount ana
thus, although three of the notes NAV have
been paid of. the recorded mortgage. not
Cancelled until the last note is paid shows
an Indebtedness of - coo. when. in fact,
the debt remaining is only 500.