New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-11

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largely; in Chicago, he made plenty of money
In both cases, laws have been made simply to
compel people TO fulfil their contracts. I do not
see how man who sold property in Wichita at
an agreed price can be called a thiel because he
seeks to recover the amount agreed upon as the
purchase price. any more than you coull accuse
the man in Chicago Of stealing because he kept
the large advance on the property that he pur-
chased
LITTLE PERSONAL EXPERIENCE.
/ once bought large amount of property my
self, making partial payments on it all, and
| atterward found myself unable to meet the balance
| of the payments. At the timc the purchases were
made the business men OF that vicinity oil agreed
| that my investments were good ones. About .
| year later, real estate began to shrink in value
and finally the property sold under the hammer
| for many thousands of dollars less than the bal
ances due upon the same, after | had Invested
| the earnings OF n lifetime in making the first
and second payments. IT. never once occurred
| TO me that the law at fault or that the Judge
who rendered the decisions in the foreclosure cases
was in any way TO blame for the result.
The law in such cases throws every possible
safeguard around tie rights of the debtor. Such
| property must he appraised by under oath
and must lie put up and sold without COLLISION to
| the highest bidder. Every dollar which it will
| bring over and above the amount of Indebtedness
must be paid over 10 the debtor. What more than
this should be done? What law is there the
statute book IN any State in this Union which
speaks of the debtor as of doubtful integrity
or as " thief contemplating crime If there is
such intma ton in any legal document, or in
any statute, it has escaped my observation.
| know very well in ny own cas- That | Fever
for moment felt that | had been robbed or even
wronged by any one. Ny loss was great: M snf-
fcring was intense: but blamed myself for it. all
and myself alone. Here my mistake. at
tempted to do altogether too much. was in too
big hurry TO get ahead in the world had not
Yet fully learned that the best policy is always
TO let well enough alone. When i should have
been contented with my savings and satisfied TO
move carefully and slowly. | concluded that
GOULD get along much betrr aud much faster by
rushing in to business undertakings which good
business sense should have taught LIE To let en-
tlrely alone. True, the spirit Of speculation was
at that time running high; and it seemed to uic
that | ought TO set into tie "whirl' with the
rest Of mankind who were doing SO much oil
about If my venture had been successful,
would have received nothing except praise for my
wisdom and foresight. II | would have been en-
titled 10 credit for success, why should not also
o'dI INT Didlnt VI CoHiubCOAuS chuuir
the results that followed my own mistake?
ONE WAY TO PREVENT II.
Let me invite DIR. Whitchorn carefully to re
view this entire subject: and then Gee II In any
way he can state definitely Just the kind Of laws
that he would have enacted in order 10 prevent
the sad occurrences which lie has named. In
the first place, would he have any laws passed
that would in any way prevent men from max
ing their own bargains? 1t has often seemed 10
me that the world would be wonderfully blessed,
il some means could be devised which would pre-
vent people from contracting debts at all. or at
any rate which would prevent them from getting
in debt beyond their means of payment without
causing actual distress have met very able
men who seriously claimed that the world would
be better oil if there mad never been any laws
for the enforcement of contracts for the col
lection Of debts. In that ease, all indebtedness
would rest upon the sense OF honor existing in
each individual ease. and honorable men would
leave nothing unturned or undone which would
enable them b meet their promises
The business Of the world has always been
largely done on the crcdi, system. doubt if this
plan can ever he materially changed Indeed,
doubt whether, upon the whole, the people of this
world are not rs well OIL doing business under
our present system as they would be under any
other that can possibly be devised. The credit
system carries with IL many hardshipS but any
other system would not b. attended with universal
blessings. No plan would be free from unmiXed
good unmired evil.
Az 10 the instance named DR. WhitchGrn,
where he is paying higher rate OF taxes than
some neghbor Of his is required 10 pay, | will
venture the assertion that such u state VI affairs
exists not in accordance with law, but In direct
violation of the law One OF the most fearful
outrsges Of our present civilization to-day IN the
United States is the manner in WHICH many
wealthy people are evading the payment vi taxes
which honesty and the law require them 10 pay.
II any man can succeed in devisinS any plan which
shall result in compelling all the property OF
this country To bear It's equal share Of taxation
aud result in the payment Of such taxes. dollar
for dollar by the men owning such property, he
will b. a benefaotor 10 his race, and no doubt
will receive great praise from his fellow men. The
problem thus far has baf,el the skill Of our
ablest Legislators. | am frank tV coufess that
IL is an undertaking which few men will ever
have the courage 70 attempt.
wish no NAH would ever fail in business IL
would be glorious IL men could always live within
their mcaDs and never venture in business beyond
their depth. However. just as long as they per-
sist in 'wadng in just ~ lous will they be
compelled TO sink if they cannot SWIM
Il. q. IlQRR.