Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1891-02-14
! Cheap Money for the People.

hare for some time thought that
some plan equally as good as the SUBJ
treasury scheme could be devised fol
the farmer, and certainly better than
the loan agencies, which, in their need,
they are often forced to resort to. Sew
erul times within the last twelve
months l. have explained my plan to
intelligent farmers and in every case
il was approved of MS being both ieas'
lille and desirable.
My proposition is for the govern
ment TO make the money in quantities
sufficient for the purpose and loan to
the States and by tho States TO the
farmers on their lands. The board of
Supervisors of the different counties
10 place u value, under oath, upon the
lands of the applicants for loans; Said
loans to extend TO one-thirc or u
half the yalne of the land. Tho appi.
cant to present a good title to his lands
and give n mortgage for The sum bor-
rowed, 4 per ceut. OF which, and 2 per
cent. interest, must, be- paid TO the
State positively each y6nr as long as
the money is retained. .Iile maney 10
be given dy warrant from the Chan
Gerry Clerk on tho State Treasurer,
| which any bank would cash. The only
cxpence TO the farmer would be for an
abstract of title to his land, wliic. by
contract could be had f~r few & j.
lars. 80,
+ "A farmer; for, instance needs n
thousans dollars. Now he must pay 4
per cent. of this, say on the first day OF
January of each year, without fail.
This would be $4,000, and per cent.
interest $1,000 making $500 {, This
I propose, shall lessen his debt by this
amount. 4 per cent, leaving $960.0O.
On this sun he. wlil-1he-ncxt year pay
A per cent, which Will be $3.50, and2
per cent intensified thus rcduc-
ing his debt to $9ll.6Q, aud so on I'M,
Ill he is able TO liquidatc the entire
debt. If after a lew. years he wishes
tc pny what remains OF the debt he
can. do so without interest on amount
then due and have his mortgage can.
cellcd by the Chancery Clerk.
No farmer would ever fail to pay
this ANAL amonnI and thus forfeit his
land, so the State would be secure in
making this loan, The farmer would
DO lifted out this troubles. and the
government be greatly benefited by
having lis citizens ouA OF debt and a.
bic to enlarge their business and ell
gage in new enterprises. This benefit
to the ci,iz ems and to the government
is what is regarded rs the profit in
thi, transaction.
OF course other parties who could
give satisfactory security could take
advantage, as well as The farmer, of
this opportunity.
No new offices need be created. All
the business could he done by those
now in Office without further expense
to the State or to the farmer.
The government helps those in dis
,ress from overflow or failure of crops
or from other causes, by giving them
needed aid. The farmer in this ease
does not ask tor a gift, but tor 4 loan
fora Tine to. be agreed upon. Two
per cent, interest fs offered, but the
profit as, before stately comes from
mul npl benefit to the citizen AMI the
government. The government Is nov
liens to meet It's various cxpenFstasss,,
pensions, interest Oh bonds, etc, and
should nfforn this rciict 10 the wa, OF
a loan. Some may cry ont "govcrn-
ment interference, CONTROL" etc. Bosh!
That Is ike calling to adrowning man
NOT to catcli at something to save him
self. The people need. aid md they
are. willing to relieve it frGm the gov.
ernment, to receive il from the gov.
ernmcnt, to be repaid according TO a,
grecmcit.
I have skctched the foregoing hasti-
ly, but have endeavorcd to make il so
plain that the most ignorant eau I'M
dcrstand il. A. B.
Meridian, Miss, January II, 1891.
- --