The Iola register., 1891-04-24
KANSAS MORTGAGES.
THERE WILL BE NO REPUDIATING
OF CONTRACTS BY KANsANs, AS
FEARED BY EASTERN HOLDERS OF
SECURITIES.

FEARED BY EASTERN HOLDEhS Of
SECURITIES.
Samuel j. Crawford's Vigorous Defense.
Replying to letter received from an
eastern holder of Kansas mortgage,
who had heard of poverty and
repudiation in Kansas, Governor S. J.
Crawford writing from Washington,
says:
''MY DEAR SIR:-Your letter rela-
tive to Kansas mortgages reached me
this morning. In reply permit me to
say as l said substantially in ne inter-
view referred to, that you and others
that have invested in Kansas mortgages
have nothing whatever to fear on ac-
count of such investments. Every Kansas
mortgage with isolated exceptions is
secured by tract of land, worth, at the
time the mortgage was executed al
least twice as much as it called for.
Having resided in Kansas for thirtv-twc
years know something of the quality
and value of Kansas lands and ! say
without the slightest hesitation that
your mortgage and other Kansas mort
cages unless fraud was practiced in Sc
curing them, are Just as good and safe as
government bonds. The great MAORI
ty of Kansas farmers commenced life in
that state with little else than the naked
prairie and hence they found it neces-
ary as well as advantageous to borrow
money. But at least nine-tenths of the
money so borrowed was invested in
stock or substantial improvements
which the farmers now have as the
fruits of such investments.
Kansas, mind you, is larger in area
than all New England-New York, New
Jersey, Delaware and Maryland com,
inded, and hence it has taken a great
beal oil money and labor to bring it up
to its present position among the agri-
cultural states of the UniCn. Two years
ago the aggregate yield of corn lone
crop exceeded 2j0,000,000 bushels.
Last year the corn crop was c,.g short
by reason of the drouth but the wheat
in quality and quantity was above the
average; while this year the prospect
for corn, wheat and other agricultural
products is all that any person could de-
sire. Throughout the state the GROUND
was never in better condition for cult
walton. We have had an abundance oi
snow and rainfall during the winter
and spring, and the farmers are active
ly at work preparing for the cultivation
of larger acreage of corn and wheat
combined than ever before. The wheat
crop is already assured and the yield is
estimated at 81, 600, 900 bushels. while
that OF corn will not, in all probability,
fall short of 250,000,000 bushels. This
added to the large herds of cattle and
the great number of horses and mules
which our farmers will ship to market
during the year, will place the state in
the front rank with products for the
market worth at least SS0,000,0 900.
Then, with such grand prospect,
why should the holders of Kansas mort.
cages be uneasy? There is no good
reason for it. But there may be
cause behind the scenes that they dc
not understand. The alliance vagaries
the gloomy fOreboding of the croaker
and malicious threats of repudiatiOn by
disreputable agitatOrs and demagogues
in Kansas are magnified and held up
before the people of the east by specu-
latOrs who know the value of Kansas
mortgages and are anxious to buy them
at heavy discount. A few DAYS ago a
gentleman of your city, who held a
Kansas mortgage for 81, 400 was fright
ened by false reports about Kansas and
the purpose of the alliance until he sold
his mortgage for Si00, and the same
thing to a greater or less degree, as |
am informed, is going on in New York
and Pennsylvania.
The members of the alliance gener-
ally speaking, are farmers and Just as
honest and honorable in their dealings
as any other class of citizens. They
would spurn the thought of not paving
their debts or an insinuation that they
are in favor OF reputation. No doubt
some of the leaders and agitators who |
are not farmers properly speaking, and
who never succeeded in any legitimate
business or profession. would hail re-
pudiatiOu with as much delight as they |
do the hot winds or drouth, because
something Of the kind is essential to
their political success. But not so with
the real farmers, or any other respecta- !
bic class of people in Kansas.
Our people are aware of the fact
that the bulk of the money invested in
Kansas mortgages belong to farmers,
mechanics, employees, clerks, teachers
and the estates Of deceased persons in !
Pennsylvania, New York and New
England, and on that account, if for no
other reason, every honorable man in
Kansas will sooner or later fulfill his /
business obligations. But there are
other reasons, the first and foremost of
which is that the people OF Kansas do
not believe in repudiation. They have
too often been tested in the scale of
humanity and justice to deserve even
IN imputatiCn of that kind; besides, as
already stated, there is behind every
Kansas mortgage tract of land, gener- |
ally speaking, double the face value of |
such mortgages as security for its pay
nent. !
81 trust, therefore, that you and your
friends and all others who have invest |
I'D in such securities will make no sac !
rifice on account of false reports put in |
circulation by schemers, croakers, agi- |
tators, demagogues and political monte !!
banks for selfish purposes.
Truly yours
7 -