The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1891-07-16
THE BLACK RECORD.
THE MORTGAGE MILESTONE AROUND
THE NECkS OF THE PEOPLE.

Are Silent Akout-Enough to Justify
Revolution - Hypocrisy Exposed An
Article by Il W. Aver.
Copyright issl by the Reform Press News
Association
If there is any one thing on earth
which the old party liners and partisans
are regretting and pining over it is the
provision they made for securing re-
port of the mortgage Indebtedness of the
country This provision was exacted
from them mainly by the Alliance. 1t
has been said, and perhaps truthfully,
that if there had been the slightest an
ticipation of the astounding revelations
brought out by this work the appropria-
ton for carrying it OH would have never
been made, for concealment of vital
the preferred policy Of the majority of
r the shapers of national legislation for
years past.
Senators and congressman and gov
errors and the like have for long time
past been accustomed to deal in spread
eagle" generalities in which they pro-
claimed the greatness of this country
and the prosperity of the people. The
people have been accustomed to listen to
such generalities, and have tried to force
themselves to believe that these orators
were announcing general truth. Hum
dreds, thousands, yea millions of the
toilers of the land, who were struggling
and battling with adverse circumstances
and conditions brought about largely by
national legislation which Disseminated
against them, have listened to the gilt
tering orations- Each individual knew
that he shared none of the prosper
ity so eloquently talked about, but he
thought he was one of few who were
i'll some way subjected to circumstances
which no honest energy, even though
aided by rigid economy, could control;
and in his loyal patriotism he would
cheer the rich sounding sentiments.
|
But truth will out" In time, neigh
| bors began to find out that each one was
subject to the same expressions and in
! CAPABILITIES, and began to realize that
they were all fighting serious and al
most insurmountable obstacles to COM
Portable Notwithstanding they
| knew their exertions fully entitled them
to When they said that something was
wrong they were told by their congress
men that they were either extravagant
or did not work hard enough. This was
announced from the platform, from the
| stump, by the press and even from the
pulpit. The people of one state were
told that the people in other states were
| more prosperous and progressive than
they. because more industrious and fu-
gal
Hearing these things the people quieted
themselves yet a little longer. They
worked harder. They sowed and toiled
in hope only to reap in disappointment
and almost in despair, for they saw that
much production added to their labor
and expense, while it seemed to decrease
the price Of their products below the
cost Of production. Then they demanded
to know why these things were so, and
each man wished to know whether or
not his brother toilers throughout the
| land were subjected to the same condi-
tons and influences
1
hooting at and pooh pooling the COM
paints of the people, finally provided a
way for finding out something about their
general condition. They have discov-
cred the appalling record of 5000, 900 Of
mortgages on the homes OF 63, 000, 900 Of
people-a mortgage on four out of every
five of the homes in this great American
union Of states Now will any one Of
these orators have the efrontery to say
that this record is the result of Incidence
and extravaganza? Will he dare say
that four out of every five of the families
Of this nation are lazy and shiftiess?
This mortgage record does not include
lien mortgages or mortgages on chattels
and personal property. 1t does not in
clude the mortgages made by railroads
Or general corporations and companies
1t only includes mortgages on home
lands, not even taking in mortgages on
farms occupied by tenants.
The sum total Of these mortgages will
run up into an amount beyond easy COM
prehension. But black and awful as the
record now appears it does not tell the
|
something which, hanging with the
same force and effect over millions of
homes, is not reckoned in the number re-
ported. nor is the amount for which
they are given included in the general
Indebtedness The official census bull
letin says:
The interest mortgage Is common between
the Mississippi river and the Rocky noun
tains north Of Arkansas and the Indian terri
tory. It generally represents an addition to
the annual rate OF from 2 to per cent. For in
stance: When loan OF 81, OOO for Eve years ia
made, a FIST mortgage is given for 81 coo at Z
per cent. and a second mortgage for $3.50 with
out interest, representing per cent. Of the
principal yearly, and going to the negotiator of
the loan, If not to the lender. Special agents
were instructed not to return these second
mortgages as principal, but to convert them
into additions to tho apparent rates Of interest
norne By the first mortgages.
Now. though this mortgage Of $150
hangs over the home, it is not included
IN the number of mortgages, nor is the
amount it represents included in the
sum total Of the Indebtedness But it is
a mortgage nevertheless, and if man
should succeed in paying off the Fl ,000
mortgage, his home may yet be seized
aud sold for payment of the $3.50.
One thing which is significant is the
painful silence of the statesmen and
great journals of the country on this
matter. Nothing is being said about it.
The facts are not being laid broadly and
i'lainly before the people Why this
silence? Even the census Office seems to
care little about making the information
snown among the people. Only 5000
;opies OF the bulletin showing the mort
/ >aSe Indebtedness Of Alabama and Iowa
, were printed for distribution This may
appear significant when it is stated tina,
$4,000 copies of O bulletin giving Ste
, tistics Of Maryland coal were printed
and there are only thirty coal mines h
Maryland. Twenty thousand copies Of
t the bulletin on quicksilver were printed
S while $4,000 copies of the bulletin OF
$ slate mining were published.
.