Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1890-12-12
THE 'i||!|:. | MORTGAGE B | { MONSTER,
The Bond anf Mortgage Hog Is Also Hang
ing found Among Eastern
Farmers.
Beaumont Tells How It Rooted d Neu
Yosh ka,mey Out Of House and
3 ss Home.
A DETEsTABLE PORKER.

There are those who think that the
bond and mortgage hog is only hanging
around among the farmers Of the west.
But am aware that he is burrowing
around on some of the farmers of the
east, and the southern tier counties of the
state Of New York have not been free
from his blighting curse.
Some fourteen years ago became ac-
quainted with an intelligent farmer who
resided onIa farm of upwards of 200 acres
in the fertile Tioga valley, in the county
of Steuben. At that time took him to-
be q very prosperous farmer, and l sup
posed that he is the owner of his farm
and now in fair way to enjoy life in his
declining years He was then turned
fifty years.
In the month Of April last this man
made me "A visit at my room in the city of
Washington. He was stopping in the
city for few days. When he concluded
his visit and was about to depart for his
home. he called to bid me goodbye, and
to thank me for the small favors I ex-
tended to him during his short visit to
the city. He was an old war veteran and
had attained the rank of captain in the
war Of the rebellion. He has, since. the
close of the war, at different times repre-
sented his, town in the county board of
supervisors, and had also held the Office
of justice of the peace number of years
So the reader may know that he was
what might be classed as one of our most
intelligent farmers.
As he is about to bid me goodbye he
remarked: Friend Beaumont, did not
say anything to you about my troubles
when ! first called upon you, but will
say II now. l have lost my farm 2
This remark on his part surprised me, as
] had supposed that he was free from
debt and was in condition to enjoy life.
He repliea: II bought that farm soon
y fteF the alQae of the {. war il 1870, 2 and
paid 81, ,OO0Ih cash and gave bond and
mortgage on the unpaid balance Since
that time have paid S11, 900 in principal
and interest on the same, and in the
month of March me and my wife drove
over to the home Of the man who had
held the mortgages all these years and
gave him q deed of the property. have
raised family Of fou, children, two boys
and two girls. The two boys have work
ed with me all these years upon this farm
One Of them this spring. left for a far
western city, to work in u machine shop.
The other one is at work by the day in
one of the manufacturing cities nearer
home. One Of the girls is married and
the other one is with me and my wife,
and we are paying rent for home to live
in, and am now crowling to sixty-five
years OF age. =
This is the picture of a life Of toll on a.
farm, OF twenty years, not in the far west,
but right in one of the most fertile val
leys Of the state Of New York. This so
Der. Industrious and intelligent farmer,
with the aid Of two SONS. had run behind
SIS, 600 in twenty years, or a loss Of near
ly s., 900 per annum. During that time
the other fellow. who toiled not, neither
did he spin, received the benefit of this
vast sum of wealth, and the rate of usury
that was taken was only six per cent per
annum. Am wrong in termining the
man who did this, a hog, and the methods
by which he did it, hoggish methods!
While the usurer was gaining this, the
farmer was constantly losing vitality.
He was twenty years of life out as we'll as
the thousands of dollars. 1t was losing
game to start with. 1t was an unfair
partnership. The money lender drove a
hard bargain with his victim. The day
will come when this system of slavery
will be abolished. The day will come
when the men who live upon usury, will
be looked upon as robbers of their fellow
man. 1t was the establishment OF D sys-
tenn that protected the toiler from these
kind Of hogs, by the early colonists Of
Pennsylvania, that sowed the first seeds
of discomfort, which subsequently result
ed in the revolutionary war.
The early settlers i'll the colony OF
Pennsylvania, in their governmental
capacity. issued to themselves scrip. Ii
the colony issued u land patent to one Of
their number for the value Of 500, he
was lent from the eXchequer of the col
ony, which was to be paid back. at the
rate OF one-fifLeenth every year. With
this colonial currency the settler was
able to build him house, clear his land
and many of the foundations of those fine
old Dutch farms that lie between Phila-
delphia and Harrisburg were laid with
the aid Of this colonial scrip, as it was
termed. And under this system the col
ony of Pennsylvania prospered far be-