The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1890-03-15
FARM MORTGAGES.



There is "food for thought" in the
following associated press dispatch
"BostOn, Mass, March 4.-Western
farmers will hereafter find il more dill
tcult than ever of late TO get eastern
capital by mortgaging their farms.
Within two weeks the Showalter West
ern Farm Mortgage Company, doing
business here, has asked for al oxten-
sion. A farmers loan company, OF
Anthony, Kan recently was obliged
10 close up business, and there 10 more
,iran one local company that is able TO
meet ils semi. annual interest only with
he most violent struggles. There are
.eventy- five western farm mortgage
companies in Massachusetts with the
total capital of $22, ,797 ,5l4. The first
mortgage loans owned by these com
panies aggregate $54 .975,s76 and the
second mortgages "a, 1853, ,03O."
VIII The Teaacr JON us just for lew
moments in careful study OF the state.
ments made in this short dispatcbf
There is more In il than one would
imagine at first glance; indeed, there
ID that in il which if properly UNDER
stood aud appreciated would revolu-
'ionize the I'oiitics OF this country in
single nighti
Il means that the capitalists of the
little, highly "prOtected" state of Mas
sschuseus hold mortgages on western
farms TO all aiHo mt aggregating nearly
sixty millions Of dollars!
But this fact, significant and start
ling az IL Is, leaves the " orst half OF The
story untold.
II means, also, that the time has come
at last when the Kansas farmer,
especially, IL no longer aUie TO pay even
the interest on the money he has bor-
rowed, aud Tor which his farm 10 mort
gagged.
And what next?
What ordinarily follows the failure
to pay interest on debt secured by
nortgage2
Foreciosure-the red Bsg-the sale
of the farm under the hammer, 10 the
highest bidder.
As sure Ms you live, reader, the fall
nre Of tlai"loan company" st Anthony,
Kansas, means the forced sale OF hun.
dreds aud thousands OF Kansas farms.
and the turning out OF house and home
of thousands OF Kansas farners, with
their helpless families, within the next
twelve monthsi
And this, too, In spite OF the fact that
the crop produced in Kansas last year
was the largest In the states historyl
In all truth and candor, Isn't this a
most astounding state Of affairs2
In the name of all that is just and
fair. why, under such circumstances.
should the farmers OF Kansas and other
western states owe the capitalists of
Massachusetts sixty million Of dollarsl
Why is II that the Massachusetts
manufacturer grows rich, while the
Kansas farmer is threatened with bank
ruptcy and ruin2
Why is il that Kansas wheat is not
worth on the market the cost Of raising
III Why is Kansas corn being used
for iuel2 How is il that the Hamilton
WooleH Manufacturing company, of
Massachusetts, declares an annual diyi-
dend OF 4Sa per cent the Lancaster
Manufacturing company 67t per cent?
How is, II that the Lowell (Mass.
Machine Shops company In three years
pays back to it's shareholders Its entire
capital of nine hundred thousand dol
lars and three hundred and sixty thou
sand dollars In dividends besides2
On whom, we repeat, rests the re-
sponsibility tor this most unnatural
state of affairs?
There is, there can be. but one an.
swer to the question.
| The republican party is responsible.
Its policy, as shown by its record OF q
quarter of q century, mas been to enrich
the few by impoverishing the many
I, has given the country regiment of
inillionsires and an army of tramps. Ii
"protects" monopoly, sustains and en-.
coursges trusts and forces the farmers
to compete with the pauper labor of the
world