The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1889-04-06

can't borrow cash at 10 per cent
I per annum.
Besides this, the gist of our law
/ is for thedcbtorsbauait 4 credit
or is hardly s1pp plsAl t. have any
ri shtS in court Ml sl,h a. h. hts
he is poweress tD enforce, anl tarl
consequence is TIE dael Of trIst
| comes mp and lays its hanl on
properties insideOf aXemptionSan
business men have % $ cure them
selves by these methods because
the law of exemptions places them
ont Of court
The great temptations presented
by the projections z gllraatael by
!, exemptions have hll 4 tendmsyb
break down credit ami t. MIX
men less pnrtienlar a5ont nesting
mntured obligations, AMI - MSD
has il made bnsin ,Ss Ear more par
ticular in mqking inva stm ,nts than
it was before. Thus the great pro
lection tho paople Of tn Sstta 1
hoped to obtain through the force {
of exemption lawi, has broken( !
down credit ami prostrated the
great farming nterc3ts OF the
people.
In Georgia recent reports of
Alliance staticans disclose the
facts that credit there, ia the shape
of merchandise to farmers, reaches
them at the rate OF 40 per cent in i
terast per aumm. In this State il |
is supposed toue ~. lIDwem any |
agriculture thrive under slch an
enormous pressure! How can Il
people sustain themselves by slel
works
We seem to he about in such Il
. condition of despair as was the
/ trembling .jailer who came into
where Paul aud Silas were, and
!. asked the important question in
Acts xvii:30: ''Sirs, whatmust do
to be saved This question is be.
e fore our farmers in all itg intensity
and we must enter at once upon q
3 life of very sincere linnnclalrepen.
tance il we expect 10 save our
bacon.
" oar people need financial cduca-
tion. This lies at the very basis Of
success. We must carry m)reprac-
teal sense along with MS in ow
!. business. If the aggregate sales
y of our entire farm have been but
S301 for u year or two past, We
n must learn to live inside of that
figure. We must not get in debt
500 to the merchant and then
curse him for wanting his money,
and 90 about telling what he
charged us for things. We must
exercise more foresight AMI less
hindsiglt.
~ To do this,yonng men, you mlsi
lS begin at home. IL is the sacred
ty duty of the Alliance an the pres
ne to aid ia the financial study, bnt
the former does not know how tt
III get at it, and the latter Is possibly
~ not read enough by the people, ~
ne they are t0o much engaged ia fight
us ing mercantile enterprises an,
'e- bursting up "trusts,' to turn atten
= ton to the little needs Of the farm
u, ers, which little things form tn
us leaven that is to mould all his fl
on tire. The Alliance Is a move il
tli the right direction, butitmanifest
m too much unfriendliness tothe m Il
2 camille world. 1t also tackles t,
~ many big elephants and seeks {
tie strangle giant m monopplies, all o
'ry which things liz baYDn the re ",
me Of its members. The first work q
WI tbs Alliance should BE- to train tn
'se young farmers and give tliempfac
~ ticll tilaH,ial ideas. Whit IL
,es practical financial ilel, amln wil
ne ask II Il this, t. teach boy tn
ne value OF cash, tie differences b.
ne tween it aRd credit, ail wat in
ieS terest is, and TO lss a little none.
~ successfully ani realize q prof
ne thereby. II each Alliance vii
ini teach young man to borrow bl
y $40. give his note for it at ten pe
or cent, learn him t. u3s tas an3un
.he cautiously in business, AMI 10 r.
5er pay ii with tie interest ut mltal
Y ity, and t. c)ntinac tle pfDcei
lot two Or three yeirs until ia. habi
sfS Of use and prep lymeat is forms
ny an crystalizes ia his ellrartei
~ and teach other boys thas > do
nc then the Alliances will fin t,ia
fse they have bnrstsl the bigg,.
per monopoly ana rninsl tar m1Jt <
zen gantic trust that ever oppres q,
lfe the people. The Alliance sh3ul
gct away from the pursuit OF ii
lily practicable things aa com dow
inl to business and brass ttelSs.
il FARMER.
lnd "
al