Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1890-06-14
CEN. BUTLER FIGURES.

corning MOrtgaged Farms.
At the recent meeting of the Butler
club. of Boston, Gen. B. F. Butler madc
All address on the condition of the Amer
lean farmers. from the report of which
in The Boston Globe the following iy
ezcerpted
How does the farmer lose his landsp
Let MS now turn to the second PROPOSE
ton which illustrates the facts that we
have set forth in the first as to the re-
wards of farm labor which present, az
well as an illustration of the condition
of farming interests rs a warning to
those who are seeking even the pittances
of the laboring men and women deposit
ed for their future in the savings banks
in other states in New England, except
ing Massachusetts. Taking simply the
&Eicultural lands, the farms of the west
ern states. exclusive Of city, county and
town property. there will be found to be
invested in farm mortgages the stipend
GUS sum of 81, 400, 600 900, at rate of in
terest averaging from to 9 per cent, to
say nothing of costs and the commissions
of agents which have been taken from
the farmers for procuring the loans Of
the money, which may be safely said to
be not less, on the average, than per
cent. The human mind at once does not
take in the results of these vast sums.
To give you an illustration-the whole
national debt of this country in 1855, at
the close of the war, was 81, 1900, OOO, 900,
very nearly one-quarter less than this
mortgage debt. But there is another
fact or two to be taken into considera-
tion. This country has been twenty-five
years, with all it's immense resources, en-
gagged in paying-some time anticipating
it's payment-the national debt, and has
reduced it only to 81 800, 900, 900, or 81
per cent And the national debt has
had much lower rate of interest, and
may be refunded any day at per cent.
There is no way of refunding or reduc-
ing this fabulous mortgage debt, with
it's oppressive and destructive rates Of
interest. TO redeem it, if done within
been Cancelled so far as it has been can
celed, would require the payment of
considerably more than double the
amount of the national debt at the end
of our war. So that the payment of
these mortgages is simply impossible.
TheDayment of the interest upon them
Is also impossible, because, as we have
seen, they call for from to 9per cent,
and all statistics show that the average
profits on farming industries are be-
tween 4 and 5 per cent. Only-hardly
over 4. These mortgages never will be
paid, if for no other reason, because
they never can be paid if the debtors
were ever 30 much disposed to pay them.
But they will not be disposed to pay
them, for by reason of the deductions of
the commissions and costs at the rate of
2 per cent, there was left burden upon
the mortgagors of over $241 ,O00, 900 of
debt, for which they never have received
any value, which therefore diminishes so
much their ability to pay, and which
they look upon as having been a cheat
upon them.
We have the silver bill now on the
tapis in congress, which is to be the pan
acea of all financial difficulties, certainly
In the views of some western men. But
it would take all the silver that the minis
of the United States can coin, at the rate
of four and half millions month, and
all the silver that the silver mines can
produce in that time, to pay one years
interest on these mortgages, surprising
that no more money is borrowed.
A senator, to put himself in accord
with the Farmers Alliance, introduced a
bill providing that the government of
the United States should loan the farmers