The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1891-06-19
THE BLACK RECORD.
THE MORTGAGE. MILESTONE AROUND
THE NEcks OF THE PEOPLE.

THE MORTGAGE MILESTONE AROUND
THE NEcks OF THE PEOPLE.
The Awful Facts Which the Old part,es
Arc Silent Abnut--IsnougI, to Justify !
Revolution - Hypocrisy Exposed An
Article by II. ". Aver.
ilCopyright 1891. BY the Reform Press News
Association.l
Z Il there is any one thing on eartl,
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. It
has been said, and perhaps truthfully,
that II there had been the slightest an
8ticipation Of the astounding revelations
brought out by this work the appropria-
tion for carrying it on would have never
been made. for concealment of vital
facts and statistics seems to have been
the preferred policy Of the majority Of
the shapers Of national legislation for
years past.
& . = >
Senators snd congressman and gov
ernors and the like have for long time
past been accustomed to deal in s'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. Hun
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.
lty so eloquently talked about, but he
thought he was one Of a few who were
in 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
equalities, and began to realize that
they were all fighting serious and al
most insurmountable obstacles to a COM
Portable livelihood something they
knew their exertions fully entitled them
to. When they said that something was
wrong they were told by ti.eir 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 moro industrious and fru-
gal.
Hearing these things the people quieted
themselves yet 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-
tions and influences
Congressman and statesmen, while
hooting at and pooh pooling the com.
plants of the people, finally provided {.
way for finding outsomething about heir
general condition. They have dscov-
cred the appalling record Of 100000 OF
mortgages on the homes of 63,000,000 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 effrontery 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 shiftless?
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.
It only includes mortgages on hom"
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
full truth. The interest mortgage" is
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. II generally represents an addition TO
the annual rate of from to per cent. For in
stance: When loan of 1000 for five years is
made, a first mortgage is given for Sl,0tfo at
per cent, and n second mortgage for $50 with
out interest, representing per cent. of the
principal yearly, and going to the negotiator of
the loan, ii not to the lender. Special agents
were instructed not to return these second
mortgages as principal. but to convert them
Into additions to the apparent rates of interest
borne BY the first mortgages.
Now, though this mortgage of $3.50
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
. mortgage nevertheless, and if a man
should succeed in paying off the 81 ,000
mortgage, his home may yet be seized
and sold for payment Of the $780,