Omaha daily bee., 1892-09-23

FACTS ABOUT THE MORTGAGE RECORD
So long as tho prophets OF calamity
devote themselves to predictions OF evil
times to come and vague generalities
concerning the present hardships OF the
people they may be supposed by char
liable critics to be merely victims OF de-
lusion; but when they come down TO
specific illustrations they will have to
confiue themselves TO the truth or else
stand convicted OF dishonesty. They
are industriously circulating statements
concerning the mortgage Indebtedness
OF certain counties in this state which
will not bear Investigation, and though
we prefer to believe them innocent Of
deliberate falsehood it is evident that
they are at least guilty OF reckless dis
regard for the reputation OF the great
and prosperous state of Nebraska, to
whose interests they profess devotion.
Itis not practicable to look into the
records of all the counties in the state,
but three or four will serve to show how
little foundation there is for the claim
OF the popuists that the farmers OF Me-
braska are steadily sinking into the
yuiCksands OF debt a sufficient refuta-
tion OF tho statement that the mortgage
indebtedness in Fillmore county has
bcen increased $3.50, 900 during the past
year is presented by THE BEES COR
respondent at Geneva. The official
records show that the amount of mort
cages filed in that county was $Sl, ,6500i
more than the amount released; but
these figures need to be qualified, and
when the whole truth is stated it is seen
that the financial condition of the peo
pie is growing better instead of worse.
Mortgages aggregating 1929, ,697.5S were
given to secure part of the purchase
price of property; Chicago firm gave
| a mortgage of 1900 on its elevators in
that county; chattel mortgages to the
amount of 81 $50. 5S were given to secure
loans which were also secured by real
estate mortgages, thus doubling the APP
parent amount; about $6, 2o0 of mort
cages were given for imported horses.
1t thus appears that the amount of
| mortgages given for borrowed money
was $l02 sos. II less than the amount re-
leased. Is not this showing that
should make the people of Fillmore
| county proud rather than respondent?
In Antelope county the mortgages
filed in July exceeded the releases, but
| this is also satisfactorily explained. The
| excess of real estate mortgages filed
| ovcr those released was due in this case,
| rs in others, to the purchase of farms,
and therefore cannot be considered as
| having any significance The chattel
| mortgages filed also exceeded those re-
leased, but this is satisfactorily ex-
| planned. A number OF large mortgages
| were given for cattle bought, and $4 ,00S
| of releases that should have appeared
! in the July record went over by an over
| sight until August. Out OF the total of
Sl0,77l for the month SC, 900 was for debts
of tradesmen and feeders, and therefore
cannot be counted against the prosperity
of the farming class. 1t is to be remem-
bered, too, that July is the heaviest
chattel mortgage month, because it is
the month in which mortgages against
farm crops for rentals are usullly re-
| corded.
| Richardson is another county whose
July chattel mortgage record has been
pointed out as a proof of increasing pow
erty. An official OF that county has,
however, stated the case in way that
shows that the farmers are not growing
| poorer. One mercantile failure caused
the filing of So, 400 in chattel mortgages
during the month in question. The large
number of crop mortgages filed in July,
according to the usual custom, and a
prevailing indifference in respect to re-
leasing those that have been satisfied
account for the balance of the apparent
increase of mortgages filed over those
released in that county.
Without taking up a great number
of specific cases, it may be broadly
stated that official reports from a
large number of counties in Nebraska
show that where mortgages filed are in
excess OF those released the cause is not
the increasing poverty OF the people.
The zeal of the calamity prophets in
their deliberately chosen policy of des-
paraging this state and creating an ut.
terly groundless feeling of uneasiness
and uncertainty as to its future does
them no credit A political movement
whose success depends upon such tactics
| deserves to fail.
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