The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1892-08-05
a MILESTONE.
The American People BEING Crushed by a
Burden of Private Debt

Aha0 Iho AheVlcun people are OelDg
lot only chrushed, but crushed with
burden Of private debt is plain to
every well-informed person.
That not only the American repub-
lie but civilization itself is leopard
lied by this curse of debt Is just as
plain.
Relief must come and that speedily
or the bottom Of the hill will be
reached and death, ruin aud decay
will begin its work.
From this impending danger we be-
lieve there is but one means OF escape
and that is by and through govern
ment loans direct to the people.
1t is the only proclamation OF free.
dom that will set free thrice three
millions OF debt-enslaved farmers,
workingmen merchants and manu-.
facturers says the Chicago Sentinel.
But objections are made to the
scheme OF government loans. The
objections come principally from two
classes, the croakers who would find
fault with the ten commandments and
declare they would do no good. and
the usuriOus Shylocks who live on in
terest money.
A correspondent asks us to state how
these loans could be so managed that
sharpers could not got the benefit of
1t to the exclusion of tho poorer
classes
Let us suppose there are 500 mort.
gage.c cursed farmers in some certain
county and that their mortgages
average 81, 900 each.
Let the government loan sums not
exceeding 81, 900 to any person in tho
county giving preference to appli-
cants for the smaller sums and prof
erence to those who are already mort
gagged.
In this manner the sharpers would
te cut of.
II it happens that rich man" has
u $40 600 farm, with a 81, 90 mort.
gage on it he would. OF course get
the benefit" OF a 81, 900 loan. At the
same time a poor man" having a
~, 900 farm. with u 81, 900 mortgage
on it would get the same benefit that
the 'rioh man" had
Let 1t be understood that this idea
of government loans is for tho benefit
OF the people, and especially for those
who are cursed with mortgage debts;
and with that thought in view, base
the law which Is TO carry the idea
into effect and there Is little or nc
danger OF the rich getting any
undue 'beneft" OF it.
But some ono suggests there are
2, 420 counties in the United States
and il the government loaned on IN
average $500. 900 to each county II
would take 81. 2lj, 600, 900 and thai
would be too much imitation. (Ol
course the Shylocks would shout lin,
iiation" rs initiation Is as hateful &c
old Shylock as holy water is to the
devil }
But lot us see.
Tho debts OF tho 500 mo tgage
cursed farmers In this certain county
IRE not AL due at present They hav,
from one TO perhaps five years to run
Suppose that only one.hfth OF then
are due this year. IL would take only
500 00) to relieve them for this yeur
Next year " would take Us much more.
In two years two-iIths only of&1,210,
000 600 would be required so tha'
instead of nm 'innation" OF 81 l0.
900, 000 1t would be an imitation o
only $3.50 600. 000-or less than SIC
per cap tn.
At the end OF the first year the
interest on the first years loan would
DO turned into the treasury causing
hat much OF a contraction which
would Offset part OF the imitation"
Right here another important fea.
ture. OF the question IS presented.
What would the present money loan.
ers who would be compelled TO accept
their money do with ii?
They could not loan il out unless
they did so at the same rate that the
government did IT,
They would not keep their money
idle. for then it would bring them M
income.
They would do one or two things
loan at government rates or lnvost
their money in some productive enter
prise.
In EITHER EVENT THEIR MONEY
WOULD 60 INTO CIRCULATION
Ane II IL went into circulation Il
would partially relieve the demand
upon the government for loans.
In short in all probability an lin,
natlon OF not more than $500 900, 00C
TO 5000 600 600 would be ell thai
would be required TO place every
mortgage In the United States on the
level Of q two or three per cent basis.
And thus released from the curse Of
the exhaustlng. killing. high ratio o.
interest which exists at the present
time men could accumulate some,
thing in order 10 pay Of the principa
and get out Of tho merciless jaws o.
an Accused Debt
DsBT from the petty mortgage upon
The humble home up TO the govern
ment bonded debt is the milestone
which is tied TO tho nocks OF the
American people today.
Government loans direct to the peo
pie is tho passage way through the
Red Sea OF Debt which will enable
Gods beloved men. women and chill
dren TO escape from tho ShylocL
Phuraohs who are in hot pursuit