New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-30

Z
What right have corporations under the Con-
stitution 10 invade our homes with S7jO.000,OO0
! OF mortgages ~ ore would think from this that
| corporations 60 about placing mortgages on tile
! property Of farmers and other people without any
/ knowledge their part that they do il in spite
Of the people owning the property, the same as an
army during an invasion would take possession OF
the property Of an enemy. What corporation ever
invaded any country in that way? Who ever
/ loaned anybody dollar and took mortgage on
/ his property without doing il at the request OF
the man owning the property? Money Is IN
/ doubtedly loaned in this country to people who
seek II. But forced loan is of rare occurrence
Such thing may take place where a man has
leen defeated in a lawsuit. or has met with some
other business calamity and is compelled 10 give
security account of his business distress; bat
not one mortgage in one thousand in the United
States has been given in that way The great
! bulk of them have been given by people who
desired to borrow money and who voluntarily
secured its repayment in that way. What world
of wicked nonsense there is talked about mort
cages. As rule men give mortgages in straight
forward business way, and there IS nothing wrong
in doing 50 any more than there is in giving
note.
OH. Buy AN ALMANAC:
had 81, s63, 4O0,2l2 in circulation. and in 1sSS
we had only S39s,719,2l2. Why is this? How
much of il was burnt
| wonder if this man is crazy? How can he
ask such "a question that? In 1866 We had
no such amount of money in circulation in the
United States. We never had, up to 1890, any
where near 81 500, 100000 in circulation. Nor
is il true that in 1883 there were only about
100000, 900 in circulation
Does this leader want 70 know the actual
truth? Here it is. There is good deal more
money in circulation per capita to-day than ever
before in the history Of the United States. There
was a good deal more money in circulation in
1888 than there was in 1866. Why does not
this leader buy Tribune Almanac for 1892 and
get the facts? 1t is impossible for me even to
imagine what the means when he states
that there were only S30s,7l9,2l2 in circulation
in 1888. There was 1891 0O0, 900 of gold coin
alone in circulation in that year. and the other
KINDS of currency brought the total up to
81 1872 100000. The circulation of this coun-
try since le63 has never been below Sj9j,O00000
and to-day have nearly three times that
amount in actual circulation among the people
July l, 1891, the circulation 81 500, 900
There is no lack Of currency with which TO do
legitimate business in this country. II is diff
Ii always has been, it always ought TO be.
OH COME NOW PROVE IT!
Again, this gentleman tells us that in the
last twenty five years the National banks have
made profit of 1863. $4,000. Why should the
people have TO pay such a sum simply for The Use
of the Government money? ~
| have no, at hand any statistics ~ show what
the profits of the National banks have been dur
ing the last twenty-five years He may he cor
rect as 70 the amount although doubt il but
he is not correct when he inlmltcs tina, thissIm
was paid for the use Of Government nOuey Not
one dollar of profit mas been made by the banks
on the Use Of money belonging TO the Government
UNLESS perhaps, We except Tie deposits IN Inc
banks made during President Clcvclands Admin
istration by the Treasurer of that Administration.
Banks loan their own money, not the money
OF the Government. The Government does not
loan money to the banks nor TO individuals. The
Government bOrrUws large sums of money, but
loans none. ] know some OF the Alliance men
are trying TO have the Government 90 into the
loa ming business, but the scheme r. 50 Wild, ;"
Visionary. 50 lacking in business scsc, that pre-
dict it will be many years before there Will be
enough men in the United States who do NJ,
understand the province of Government to drive
the Government into any such business. There
is enough for the Government TO do without at
tempting ~ run pawn-shops or any other kind Of
banking business National banks, and all other
banks loan their own money and the money OF Their
depositors never the money OF the government
unless the Government is d depe'or
GOOD FOR OTHER TAXPAYERS. AT ANY RATE
One more question Why is it that our rail
road companies value the l54,271 miles of rail
road in this country ut $d2,27j per mile. when
these roads did not cost 100000 a mile?
| do not know what the railroad companies
value their roads at per mile; neither 90 l Kho"
how much these roads have cost. But the lactS
are imuatcral 1t is barely possible that some
of the roads now are worth a good deal more per
mile than it originally cost TO build ana equip
them Bat then there is u large amount OF prop
erty in this country Of all kinds, whch increases
in value from year to year. have no douDt that
tbe nroperty Of some of the railroads is no cx
ceptiQn to tins rue
| often meet a ulan who values his horse at
80 400 when that very horse did not cost him
mor, than 500 | do not know why he does
il unless il IS that he thinks lis horse Is valuable
II may bc that the horse has some quality which
makes him worth 81, 900; at least, some quality
,,bicb will enable the owner 10 sell him Tor
60 600 do not see if he honestly estimates hIa
worth at that high figure, how IL is crime Ior
him to place that value on him. KNOW sie"'
many other people who value the property 'heS
happen 10 possess AT great dedi h'o'o o''',' -
cost than originally. No doubt some OF Them
vaiue their property too high some too low.
presume people who own and control IaiIroanS
are sometimes addicted 10 this same haDi' oI e.
tmating their property Tor more ,an !. - %
AnV ono who does such u thing purpOsely ana dOcS
il with a view Of Oyerrcachng or wr0hglnS some
b3dy else does il wlckedN y railroad WOMB
no do il 20 ovcrrcach the tax collector, certainly
II thev nppralsc their roads for more IMAM the}
are worth they are likely TO have to pay Tor IL, 70
a certain extent, in higher taxes. But Is II
/ crime for a man TO crcstmatc thc value OF
nronerty that he owns? If II IS, the world Il
lull Of criminals j.. .,.o.o ,.,,o.
/ have devoted this much space 10 thcse pueS77
lions simply ~ show the people Of the tni'cd
States what fearful DOnsensc can De written ana
talked about by people who ought to know better.
| have no patience WIN man VINO rin "oIh
bimsef into state Of mind which Will permit
him to frame a Series Of questions like the fore