Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-29
PROSPERITY PROVEN.
The Character of Mortgages Now Be-
ing Filed a Guarantee That
PITTsBURG is In GOOD SHAPE.
Money Raised for Building Operations
and Improvements.
A VERY HEALTHY STATE OF AFFAIRS

The statement that there were 449 mort
cages recorded during the past two weeks,
for nearly a million of dollars (S959, ,003), is
calculated to startle some people, and is not
productive of good, as it is ex parte. An
| examination was made into the matter in
the Recorders Office, and instead Of seeing
| white caps, as one might expect after hear
ing that nearly 81 ZOO, 900 recorded indebt-
edness had been assumed in two weeks, it
was found that on the whole the records Of
the Office so far show q healthy state of
affairs.
As publications weekly show that mort
cages in year run well up to $50, 900, 900
some people have gotten the idea that the
county is being carried on margin. The
trouble with such publication is that it is
one sided. No record is published Of the
satisfaction of mortgages, an average OF
some 20 day, or nearly half as many as the
new ones recorded.
STILL MORE PROOF.
Then there is another feature, or rather
there are two of them, which show that the
movement is in the direction of improve
ment. An official who knows whereof he
speaks states that more than two-thirds of all
the mortgages recorded these times are
of the purchase-money kind, indicating
great activity in real estate transactions,
and a considerable portion of the remainder
are what might be termed renewals. Mort
gagees want their money, and the mortgager
makes a new one in place to some one else
who has money TO loan. Very frequently,
also, the second mortgage is for a smaller
amount than the first. the borrower having
been able to extinguish part OF his debt.
1t is suggested that both sides of the ac-
count should be published, so that students
of finance could at any time make out bal
ance sheet. 1t is said there are compare
lively few people hypothecating their real
estate for means to live. 1t is usually for
the purpose of making betterments, or for
the building of houses on lots already paid
for.
TESTIFY TO PROSPERITY.
Building and loan associations are placing
many mortgages on record, and these tes-
tify TO prosperity on the part of the people
who work for a living, and are the best Sc
curity against anarchy that can be devised.
Anarchy can get no foothold worth speak
ing of where the people sit under their own
vine and figtree. Their stake in the COM
munity increases their attachment to the
cause of law and order.
An observer who notes critically remarks
that though the time is not especially
notable for railway building, the activity of
the iron industry shows that expansion is
great in other directions, and will continue
to give impetus for some time to come.
While short crops are to be deplored, they
do not work especial harm so long as labor
is well employed. A political economist
cites figures to prove that farmers at large
get more money in years OF shortage than in
abundant ones, so long as people are en-
ployed and able to buy, and the extra money
that the farmer gets soon finds its way back
into the channels OF trade. This doesn't
form an argument in favor of agricultural
restriction, as the aforesaid economist would
have one believe, but it shows that a COM
Portable salvage is extra ctabls.