Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-01-21
A LAND LOAN PLAN.

A BIN Proposed By CongressmAn-eiset
gage Debtors.
Congressman-elect John Davis has for
years advocated direct loans upon land
to the people. As Knight of Labor
his work has long been in that line.
His views are expressed fully in the fol-
lowing bill formulated by him for action
by Congress, and which he has doubt.
less made public for the purpose OF
eliciting discussion and disclosing any
latent ground for objection:
That on and after the approval of this act
tany mortgage debtor falling to meet his
mortgage debt or debts accorking to contract
shall be considered q bankrupt, and] it shall
not be lawful to collect such debt or debts by
che usual methods of foreclosure under the
laws of the several States, but the method OF
procedure and collection shall be as follows:
l. The creditor holding the mortgage
shall proceed in person or by attorney or by
lawful representative, to the Office OF the
register OF deeds, where the mortgage
is recorded, and there procure a correct
abstract of title of the estate held by his
mortgage including the incumbrance Gre
ated by his claim or debt. The register
of deeds shall certify to the correctness OF
the said abstract, and attach his signature.
The county clerk of said county shall also
examine and certify to the correctness of the
said abstract. and attach his seal and sigma
ture; provided. after examination, the
property is found to be worth the full amount .
of the mortgage.
2. 1t shall then be the duty of the creditor
to peoceed to the county treasurers once,
where the said abstract shall be placed per-
manently on file for future reference.
5. On presentation of the said certified
abstract In the county treasurer's Office, it
shall be the duty of the said county treasurer
to issue In due form, on blanks prepared for
the purpose, draft for the amount of the
mortgage debt, including interest and oficial
fees to date, on the Treasurer of the United
States Said draft shall be examined by the
county clerk, and certified correct by his
official seal and signature. Said draft
VIII then be due and payable by
the Treasurer of the United States
on demand of any lawful holder of the same.
Said draft must contain an accurate descrip-
tion and location of the estate mentioned In
the abstract: and the amount of the draft
shall be charged up against the said estate,
creating lawful lien on the same The
debtor shall now be allowed twenty years on
the debt, by paying interest promptly on the
same semi annually, at the rate of one per
cent per annum, that being the terms al
lowed to National bankers during the past.
twenty five years. The record of the mort
gage shall be marked: "Settled by the United
States Government"
4. This procedure, herein set forth, shall
be the only lawful way for collecting mort
lawful money in the United States shall
amount to $50 per capita of the population.
not counting the lawful reserves In banks
and other fixed non circulating deposits re-
quired by law.
5. After said aggregate of $50 per capita Of
population shall have been reached, the
usual modes of legal procedure In the sew
eral States will again become lawful. except
at such times as the increase of population
shall require further floating of new money
10 10kr, <<N
$50 per capita.
6. This said means OF floating money and
relieving debtors shall. mot prevent other
legitimate means of coming and Issuing
money in order to facilitate or aid In reach
ing and maintaining the aggregate and un-
fluctuating circulation herein mentioned.
Nor shall it be considered a bar or hindrance
to private parties who desire to settle their
own debts in their own way by mutual con.
sent
States to meet the demands under this law,
the Treasurer shall be authorized to create
and pay out on demand a sufficient
amount from time to time of United
States Treasury notes, receivable by
the United States Government for ali
dues, and legal tender for all debts
and taxes. And, in order to show the amount
of money afioat and its relation to the num-
Der of population, 1t shall become the duty
OF the United States Treasurer to embOdy In
his monthly reports a careful calculation of
the whole population at the end of each
month, computed on the basis of known per-
centages of increase and statement of the
money per capita af1oat at the end of each
month. These reports sent out monthly 20
the registers of deeds In the several counties
in the United States shall be authority indi-
eating the mode of procedure in the collec-
tfon of mortgage debts for the ensuing month.
g. When mortgage debts become due and
payable, 1t shall be the duty of the holder of
the mortgage to proceed to collection within
thirty days. II procedure is not commenced
within said thirty days interest shall cease
on the said mortgage on the day on which,
by its terms, the debt became payable.
9. This law shall be applicable to real estate
occupied as individual or family homes and
to lands and lots occupied for Industrial and
business purposes for family support. It
shall not be applicable TO unoccupied or un-
TweedIe Dee ana IweedIe DUN.
Mr.. Ignatius Donnely, of Minnesota,
has an original way of expressing him
self, and doesn't care where the chips
fly when he chops. Addressing Farm
ers' Alliance convention recently, he
said:
"For politics, in the narrow sense of
the word, we care nothing. We are
neither for nor against the Republican
or Democratic party. We are organic
ing to suppress abuses by legislative
means, and woe unto the man or party
that gets in our way. We are fighting
for personal rights and perpetuity of
the Republic. If the old parties do not
attempt to thwart or injure us, we have
no objection to their going on selling
figs in the midst of the hurricane. We
regard them as the two great National
baseball clubs, and their uproars and
enthusiasm are, perhaps, necessary for
certain class of undeveloped minds,
to whom procession is principle and
fiambeau club the light of civiliza-
ton. The Democratic party signifies
the corporations plus five per cent. re-
duction of the tariff, the Republican
party signifies the corporation minus
the five per cent. reduction. The old
school men used to argue as to how
many devils could dance on the point Of
a needle. 1t is amusing to see 65, ,000,-
600 of the most intelligent people on
the earth, all dancing together on the
attenuated point of that proposed i've
| per cent. reduction. The difference be-
tween tweedle dunn and tweedle dee dis
| appears into nothingness in the pres
ence of such picture"
| Government Control.
When the Government takes charge
of the telegraph system of the country,
| it is estimated that the average cost of
dispatch viii be about ten cents. Un-
der such system of Government owner
ship and control, the average citizen at
the cost of one dime might demand of
the signal service department q special
weather report; and then it might be
said that Uncle Sam kept his weather
representations on tap for all his
| nephews and neices.-Industrial Age.
The Washington (Kan.) Republican
says: ''The sentiment In favor of 3
United Labor and Reform party is grow
i