Telegram-herald., 1888-03-28

3fIf ufGAt tASs4 aoEfS t0zs-
Unlssis - Leasing. tls prsss u 1ich-
izsn aaa Tie sofrsspoad-nts oi tia vress
gsssFaily seem 70 have conbized 10
drive away avery nan NO may coatsr-
pl4fe 1ayiag 4 farm IA ths state. ihsy
heap ap il ohs pile al tbs statistics
thsy can gather from Monroe 3 Outona-
ga county, and than saA Aks ths hired
zaoarasrs a. Mohamustau f1asral over
ias ns4sa Of mortgages thai Is crushing
the llfs out u the fsEIasfs Of Michigan
Al this talk about the enormous weight
ot mortgages uYon Michigan farms can
have 0ui ons effect. that o, IBluring the
farming interests and depressing tne
value u rsAi sssats. II tho condition OF
tie farmers = SO dsplorsbls, this sd-
vsstizing Of ths tact viii oaiy make IL
more dsplorzbls. Bat ws 90 not behave
mat the farms of Michigan are much
more heavily m0rtgazed IN proportion 10
their value than are farrss IN other Vest
srn States. sad K they are Z does not fol-
ios taas Michigan Is worse of than
other states. 50msbody a. Lansing. with
peacheat sor sarprislns statistics, hss
made. ~ 80 said, heap of al the mort
cages in TIE STATE. which 20 in Zoe their
;nii face vailie. snd then comparing them
With tcs assessed yslrs Of tas rss. estass
which TIE assessors hlvs &C. nisse1 and
vbieh goes IA generally TOR much less
than IS seia1 value. holds up hls nands
in holy horror. while ths press rushss od
70 advertise snt poverty o, the soii OF
Mschixen. And so the impression goes
cut that ths highways of Michigan are
hist With farmers O. The way 70 the
poortouse.
lLs fact q. a farmer may have bis
property mortgszed sud stiii De very
prcspssoas. A little further examination
Of ihs eorditloas at.eodinz TIE mortgages
oa firms ia ta;s stste would disclose
the ftcs tbss a very large percentage ol
them ere sivsh 10 sacGgs tie purchase
pr.cs of farms Vh.ch they cover. A
young ran stsrts cut IN liis WITH espi-
tal os 5000. WiEh tnis hs csa buy !
fAgm os l0l acres worth SiJ "a acre. he
reserves sl.Coo Tor stocking he farm snJ
making improvements. pays sl.0]0 down
aud sivos mortgage for $3.50 to run
for. Il nay be. zen years. psYing 500 q
ypar and ioseres. Nov his farm il
ncr'xagsd f0T - pss oeas Of "a actual
valas Bat as has faith ia The rssourcec
Of tas soii, and GOES to work. He finds
tia. be caa aoi oniy meet the paymsa.s
wb~n they are due bat ea1 do mors than
that. tie has chance to buy snotheI
q ~ scrss edioininx his farm srd b.
turs tnss aaaer similar conditions
Then both his farms ara mortgszed, bui
this dossa't drive hin 10 the poorhouse
He goes right shesa scd meets the pay
meats wbea dus. But he has % ksve 4
new horss 20 accommodate his increas
ing family snd 10 live IN - good siyle ~
his improved circumstances require
He hss g. have a ouey TO DO THE. AID b.
perhaps gets shs old mortgage tnken az
sud gives 3 asw one. w1ich not only Sc
curss the baiance due on the tsrn bat
afforis tns means with which 30 build
hls h0ass. Thus the mortgage Is in
crssssd azsis. 5u, a. iso't oa tia way 10
sbs poorhouss yet. Ills farm has bean
constantly increasing IA value by The de-
vslcpmens OF ne sssta. aud the security
9 such that hs gtts the lcwsss rate o; IN
tsrsse B7 AMI by IA buys nOrs land or
makes o.her inaprovsmsn's unt,l bis land
is worth So or 800 sa acre instssd Of
$50. sal hs has. insssad o, ths $1,000
farm one worth $1,000 CT Sl5.oo0. lie
children ara growing ap aud IA wsnts :
bsstsr chance 10 sdscste then sad 50 as
~lis his fsrsa 70 socas younger nan snd
~ves 20 he village or sity. The youngsr
esgaia giving q mortgages on tue
- sscurs the ssilsr.
sbovs ws bsisevs IS fsir iilastrs-
'a As coodilious attending most OF
Sss on fsra property, sad Il
>s aot csii toe any great
'o'' y Ssnissration in behalf Of the
'"0. Mortgages testify to =
-. = va a q the sesi. and
! .-'p p % ne il appear that cur
's'n' 'fs srs poversi,,rc<su IL iibsl
- - ''''asFs aaasn uojnss sssaals
mon t'e skrieri 'tr.-,f
ss.a