The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1890-02-14
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OUR ASSORTMENT OF GRAIN AND g
plete with cur
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Our DEERIGo HINDER TWINE made
the only Harvester Manufactures who adopte
Apply to our nearest agent for illustrated
direct to Us. WIN.
first loan, applications will be coneid.
cred ut every agency as they are filed,
without reference to the use to which
the money il to be put.
Assuming that only one.half Of the
cases need immediate attention, the
fund already provided (s5OO, OO0, OO0)
will meet that demand during the first
year. How shall we manage to pay
the other half
The total debt we have put at $937,.
500. 900. Paving $500. 900 Of that
the first year, we have 1887 500, 900 left
to provide for and that can be paid of
10 five years by the use Of $lO0. 900 900
. year during . period Of four years,
leaving $s7 500. 600 to be paid the fifth
wear.
According to the plan aboye outlined
the payment of interest at one per
cent. annually. and nine per cent. of
the principal every year, we shall hav
q return Of $45, OOO, 900 Of the, principal
and one per cent. Of the principal still
out, once q year, and these two items,
amounting to ($45,0OO, 600 principal
and 5,COO, 900 interest at the end of the
first year, $50. OOO, 900 will be available
for use in lending the second year. and
that will be continued regularly until
all Of the original $500, 900. 900 has been
returned, which will be eleven years.
The amount thus returned every year
will be re.lent, and It will be lent on
the same terms as the Original-one
per cent. interest and nine per cent. of
the principal returned, 30 that after
the first year, there will be . return of
a, 06O, 0OO-(nine per cent. of the $45.-
OO0, 900 loaned the year before, and be.
sides this, the interest on these returns.
1t will be seen that at the end of the
first year the returns will amount to
CSC, 0OO, 600, which will be available for
relending, and that the returns will in.
crease from year to year.
Without going into details, 1t IL
estimated that at the end Of the sixth
year from the beginning, the amount
available for re-lending will be about
SO. 900. OOO-increasing from $50 ,OO0, 900
at the beginning Of the second year to
SO DOC. 600 at the beginning Of the
seventh year.
But the whole amount Of the indebt-
edness 1887 600, 5OO) ought TO be fully
paid In five or six years In order to
save the homes which are In jeopardy,
and to do that, we must have enough
money to add to the aforementioned
annual returns to make an aggregate
Of 500, OOO, 900 yearly. To raise this
extra amount. 5000, 600 will be re-
quired at the beginning Of the second
year. followed by about SAG, 00O. 900 At
the beginning Of the third year, and 20
on-s42, OOO. 900. $ss, OOO. 900, $S4. 900 900
and $50, 900, 900 In successive years,
making an aggregate of S2AO. OOO, 900 in
8 issues. Let these amounts be supplied
by certificates based on coin or bullion,
of the regular coinage-no more than
q healthy increase Of the currency
volume, and not as much as the pres.
ent law authorizes to be coiped. Under
the law as it now stands $6S, 500, 900 Of
silver may be coined every year, be-
sides all the gold which il brought to
the mint.
Briefly stated, the operation of this
particular part Of "the Way Out" Is
this: The debtor would be relieved In
eleven years and have his home left to
him clear. Let the matter be explain.
ed thus. Say Mr.. A is indebted 81 900
at 10 per cent. annual interest, and bis
home is mortgaged to secure paym ent.
As things now are he can pay no more
than the interest as 1t falls due, that
is 500 year. At the end Of eleven
years. (supposiBg present conditions
to continue,l he would have paid
eleven times 600, or $l.10O. . sum
equal to the amount of his debt and
500 more, but the debt would not be
paid-not dollar oft; he would sill
owe the original 81, 600. Now, follow
the plan proposed In 1.-THE Way Out:"
Mr.. A borrows 81 900 from the govern
ment at one per cent. annual charge.
promising to pay nine per cent. Of the
principal every year for ten years, and
the balance at the end Of the eleventh
year. That would be just 500 year
$50 interest, 500 principally. This
amount (s1OO) is all interest under the
old 10 per cent. system; 90 per cent. Of
1t 1t is principal under the system pro-
posed. At the end Of ten years under
the new rule, $500 Of the principal
would be paid, leaving only 800, with
the interest-l0 per cent to be paid at
the end Of the eleventh year, when the
debt would be all paid and the sggre-
cate amount Uf sll the eleven yearly
naymepts, principal and interest, would
he n ITO. or only $40 more than the