The midland journal. (Rising Sun, Md.) 1885-1947, 1891-09-11
Land Loans.

Tue OtauiOIu Iauu iIOaD Dbl, winch
was introduced in the Senate at ibe lssi
session, started a discussion throughout
the country which viii, not stop til
some law is enacted by Congress en-
bodyiDg the ideas advanced in that bill
Different plans from time to time are
suggested embracing the same principles
but differing in details. The main object
is to have the money distributed among
the people who use money to aid labor
in the production of wealth, without
being taxed at the enormous rate which
is now charged by all loaners Of money.
The banks have become the CHIEF
money loaners Of the nation.
This banking institution by clever
manipulation. and by procuring the
passage of special laws to aid them in
the business of selling money, which
sales they call loans and discounts
all the money Of the country is made to
pass through their hands several times
during the year, and they sell this
money nearly all. to the people, every
time 1t passes through the bank. But
comparatively a very small portion Of
this money is the property Of the banks,
only, in fact, that which the govern
ment gives them to use for a nominal
charge of one per cent. Nevertheless,
the financial machinery Of the country
is so arranged and nicely adjusted that
the money cannot be gotten into the
hands Of the people who use it without
its passing through the banks. Very
little ofthe entire volume of the money
Of the country can be passed from cit
izen to citizen direct, although they
may live on the same street, without the
moneys first going through the bank
and being tolled, taxed or sold and re-
sold, as you choose to designate tie
business known among bankers ss
9 loans and discounts" This is Every
funny" isn'tit? Some Of our readers
may not know how this is done or may
question the accuracy of the above
statements. But if there are any who
would like it further explained, or who
deny the fact that almost all of the
money Of the country is passed through
the banks several times and sold by
them every time, before the people en-
gagged in productive industry can have
it to use, We will be glad to make i
all plain at any futnre time. Our pur-
pose at present is to introduce the fol-
lowing plan, suggested by an exchange
for consideration by the readers of the
MIDLAND JOURNAL:
Be it enacted by the House OF Rep
resentatives and Senate of the United
States in Congress assembled:
That each State in the Union may
draw from the treasury Of the United
States ten dollars per capita upon hel
State bonds, payable on or before
twenty.ons years after date, with on,
per cent payable annually.
Said States after paying off her for
mer Indebtedness shall pay out to each
county Of the state, upon county bonds
$40 per capita payable on or before
twenty years after dates with two PEI
cent payable Annually.
Each county may loan on real estate
mortgages upon apprlsed valuation b.
the legal trustees Of said township
wherein the said lands are situated
The applicant for loan shall deliver
to the county commissioners certified
certificate of the three township trustees
of the township wherein such lands arr
situated, that they did on the-day
of-lS-, enter upon said land anc
apprise the same at $-per acre ex-
elusive of buildings, which valuation il
according to other such lands selling il
the neighborhood, and upon delivery
Of said certified bond and mortgage
with certified abstract showing the land
to be free and clear of all membranes
after approval of the same by SAID
county commissioners, who shall be
appointed by the state legislature o.
each state, with good and suficien,
bonds to the state for all moneys COM
ing into his hands by virtue of his
Office, it shall be his duty to send
amounts of such loans to county treas
urer Of the county where the loans are
made, and such loans are to be made
not to exceed fifty per cent of the ap-
prised valuation and payable on or be-
fore fifteen years from date of same
with three per cent payable annually
One per cent to be paid into the gov
eminent treasury, one per cent into the
state treasury. and one per cent into