The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-09-26

OF course, under the act of March 10,
1879, no new suits were brought by these
companies in this court. The figures for
1880 and the latter half of 1879 represent
only cases already brought. The volume
of foreclosure by foreign companies is
more nearly shown, though somewhat
under the actual amount, by the figures for
1873. The amount for the three years as
here given is 81, 523, 1891, but it was I'M
questionably over two millions. Under
this law the foreclosure business has
passed so completely to the state courts
that since 1885 the aggregate foreclosures
by the companies named, in the U. s.
court have been less than ten thousand
dollars year.
Well, what of all this? If man Dor
rows money he must expect to pay it,
mustn't he? Certainly, but where did this
money come from? How did it happen
that these Eastern people had money to
loan and we needed TO borrow? Our soil
is better than theirs; our facilities for
commerce are good; our natural resources
are unsurpassed. We have simply been
taxing ourselves for century to make
them rich. Our forefathers and ourselves
have been paying them to keep up the
Infant industries" borrowing back the
money at high interest, paying interest
till we were ruined, and then turning
over our lands to pay the principal. Out
of this system they have received
the infant industries and the
money, and are taking in
the lands at the rate of three-quarters of
a million a year. What have we real
lied? We have not even acquired ex-
perience. These good people now tell US
that if we take off one-ninth of our trib-
ute we will be reduced to pauperism, and
there are hundreds of people here, many
OF whom have at times been suspected of
having sense, who solemnly avow that
this is true. We must keepon taxing our
selves or we will be ruined. The people
who want us to quit taxing ourselves are
those awful English, and they are send
ing over ship-loads of gold to purchase
our votes and induce us to take this fatal
step. Bewarel Beware! Beware!
/ wish that every voter In Indiana
could travel through New England and
figure on this proposition for himself. He
would see a poor, sandy, rocky soil that
evidently made no one rich. He would
see villages grown up around enormous
factories. He would see in all the cities
the magnificent buildings of loan and
mortgage companies, safe deposit COM
panies and trusts. He would find corpor-
atoms that owned more land in Indiana
than any corporation or dozen men in In
diana. If it is not the direct, natural,
inevitable result of this tariff system, what
is it? But would you destroy these fac
tories? Not at all. / would merely
quit donating them money. They
are selling their goods to-day for less
money in foreign markets than they
charge for them at home. They are com
peting with the ''pauper labor" not only
of low tariff England, but also OF high pro-
tective tariff Germany and France, in the
markets of the world. They are not max
ing any fair division of our contributions
with their employees. The worst wages
paid in this country are in the protected"
regions of New England and Pennsyl-
vania. They are stacking up the money
we give them in their Golfers, loaning ii on
mortgage security, and paying it for cor
ruption purposes in elections. On one
hand they flood the country with idiocy
about British gold; on the other they
send out their John Jarretts to corrupt
voters Both their agencies are here now
in profusion, and yet these philanthropic
people wish only ito protect American
labor" ]. P. DUNN, Jr.