The farmers' union. (Memphis, Mo.) 1891-1895, 1891-02-19
Stantord's 2 Per Gent. Loan.

perfect, Or 1T least that is the direction
in which all their argument leads.
For it is invariably the case when any
change is proposed the whole army
nf financirrs or those who imagine
themselvc to- be the fountain of knowl-
edge Oh financial questions pouncc
down upon the intruder of the old
methods Of doing business and an
swer all the arguments brought for
ward in support of the proposed
changes by one sweep of the tongue
or pen. Namely: By calling the I'M
fortunate individual crank and the
scheme proposed both ,!ai grrous and
visionary. AS u rule this class of
reasoning on the part of those who
believe IN the present sy stem, is suni-
cicnt to defeat any and all efforts of
those who clamor for the change;
but the stand recently taken by Sen
ator Stanford of California. in favor
of a two per cent loan by the govern
mcnt to the owners of real estate is
likely to lead to Il revolution in the
old time methods Ct doing business.
Mr.. Stanford's position IS the highest
national representative of 4 great,
together with his strong personal
following in the United States senate,
body in which he has long been an
honored member, makes it impossible
for those who oppose him to silence
his voice and vote by calling him y
crank. nor can he he si!,nccd by the
old time Cry used against 50 many
advocates Of financial reform that he
is Il failure in the department he seeks
10 reform. Because the California
Senator has made financial success
and has to his credit to-day an est
m."::.>d fortune OF $50 900 900.
The object Of Senator Stanford in
proposing his = per cent. loan by the
government to the farmers says the
Evening Chicago Journal, sis to car
~ favor with the grangers, and gain
their support i'll the presidential con
test of 1892, OR to state the case in
PLAIN English Stanford wants 70 be
pcsihent of the United States, and he
expects his , per cent. government
loan issue to carry him triumphantly
into the White House. Thus it will
be seen that from whatever eourcc
comes proposition TO change the
present financial methods, charges Of
some kind will be tramped up oy
those who believe in, crarc satisfied
with the present system. But the
people s.e beginning TO think for
themselves a little and the truth is
dawniny slowly upon them that call
ing man Il crank, or publishing The
fact that nc has failed in some of his
undertakings. or announcing that he
is dcinag"guc and m Office seeker
is not answering his argument, nor
are such charges sufficient of them
selves to induce the public to CON
dcmn without further investigation
The reforms they advocate or the
changes they propose.
No. Those who oppose the stan
ford scheme Of leaning money on
real estate at low rate OF interest
must answer the arguments in its
favor in 4 clear. candid and logical
| manner The farmers are not ask
ia1 for any Legislation in their favor
that would be yuinaus to the bust
| ness interests of the country, bat
when 4 measure IS proposed seeming
ly in their favor they ask for it f;,ii
treatment from the opposition. All
those who oppose the > per cent. loan
bill are very careful TO keep in the
back ground Tic a;:uses whic!. lead t.
its Introduction in congress; ii was
tn, rc shown By stat,ctics that many
farms in all parts OF the country
were heavily mortgascd at All aver
aged rate uf 8 per cent. and at the
! present rate Of living, taxes, and the
price OF farm products that the agri
cultural industry could not stand
such Il drainage and that the result
of such ruin,us rates of interest
would certainly in short time cause
the land to be owned by syndicate:
and monied corporations; that thi
state Of affairs would be tlctrimcnt:,
not emily to the farmers but the gen
cral interests Of the public, and tina
it would bc the part of Wise states
mauship To adopt some measure o
relief that would prevent the land
in question from thus changing hands
The government having large sur
plus and unlimited credit, AMI hav
ing ut different times aided the Wal
Street spectators in various ways
when they become sore pressed, an,
panic and ruin stared them III th
. face and having loaned millions o
the surplus TO the national banker
without interest the farmers vcr
naturally conclude that :, little legis
Iation in their favor would not be on
of order. In 4 line with such polio
2 toward the farmers on In" part q
the government Senator Stanton,
has introduced his = per cent. bill;
may he that the object he has i
view by so doing is the prcSi'enc,
and the Evening Journal and thos
WHO oppose him may be correct i
,lenouncing him As q hunbug and
dcnagosue; yet the fact must not b
: lost sight of that the measure he
uos advocating must be judged upo
his merits. Is such Il measure pra'
ticahlc? Would it save the mcrtga2
+ cd homes? Would it serve to kc:,
the land in the bands Of the tillcrs {
the soil and ont of the reach {
:; greedy ana soullcss corporation
:: These arc the questions involved
tie discussion Of the Stanford > pc
. ccst. loan bill, and the CITIZEN trust
that THOSE who take part in the col
3 trovcrsy will contins themselves
tho issue involved.
!, In order to show how unfair--n,
- to say dishonest-are these who o.