The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-02-26
PROSPECTS BRIGHrENING.


PROSPECTS FRIGHTENING.
The mortgage Indebtedness of Kansa;
has been more universally discussed
not only in this state but throughout the
country, during the past two or three
years than perhaps any other single
| topic. And the discussion has almost in
variably been conducted in vein detri-
mental to the best interests of the state
and It's citizens, and very much Of it OF
wanton, malicious nature. There
has been just enough foundation of fact
! to serve as text for endless and con-
| scIenceless fabrications on the part OF
many who, from disappointment, or
envy, or hate, or what-not, wished to do
the state all the injury possible. And it
were useless to deny that the baleful
effects of this crusade against the state
has had the effect desired, in part at
least. Kansas has lost thousands of
good citizens, who have been detected
to other states and territories, and mil
lions of dollars in money and business
the continuous defamatory allegations
touching the financial condition of its
citizens, especially the agricultural por-
ton Of the community.
But, thanks to kind Providence, the
mistaken faith of the people and the
their persevering determination to sue
coed, the clouds have passed and Kansas
stands out today in the bright sunlight
Of present and promised greater prosper
Its citizens happy in the realization
of their hopes and encouraged by the
prospects. of greater reward in the future.
Reverting to the question of mort
cages, Kansas is in better condition to-
day than any agricultural state in the
west, or the country as for that. There
have been fewer foreclosures and more
obligations cancelled by payment in Kan
sas, in proportion to the volume of such
transactions, than in any other state. The
fact is, Kansas never was as bad off in
the matter Of mortgages as it has
been represented, not by half, nor
bad as several other older and
more populous states. The total mort
gage indebtedness of the state, as given
by the federal census reports, never ex-
ceeded 235 million dollars at the highest,
and that was two years ago. During
that time the recorded evidences of debt
have been reduced at least 80 per cent,
which, with the payment Of interest and
taxes, is a marvellous showing. And it
is rendered all the more marvellous by
the fact that for two or three years i'm
mediately preceding the two years in
which such a large per cent of existing
debts was paid, witnessed unusually
short crops, which compelled many to
pass interest payments and even taxes
unsatistied.
Having weathered the storm and
reached safe landing, brief COM
parison of present conditions here and
in some of the older and richer states
may not be out of place, and will
serve to further inspire our people with
confidence in their own business proves.
a liberal estimate will place Kansas
mortgage Indebtedness at this time at
not exceeding 15S million dollars. A
recent bulletin issued from the census
bureau shows that the annual interest
alone on the mortgage Indebtedness of
Illinois has increased from $53, 276, 929 in
1880 to $137, 1872, 456 in 1899, showing
and rapid increase of the in
debtedness of the state. Think of it!
One hundred and thirty-seven million
dollars, annually, in interest alone.
Illinois is a rich state, and it has made
great progress in the last ten years; but
we doubt whether it can stand steady
drain like this. Nearly one-fourth of
this interest is owed by Chicago, which
is called upon to pay $44, 600, 900 interest
a year on mortgages, but that city is
much better able to pay 1t than the rest
of the state TO pay nearly 500, 900, 900
year. The manner in which this burden
has increased during the decade, nearly
three-fold, is not encouraging. Illinois /
would do well TO stop borrowing money
on mortgage TO develop its resources, for |
it cannot prosper under such a growing
burden.
In view of the facts and the actual con-
dition of the citizens of Kansas there is |
nothing to discourage. but everything to |
them, and it is most CRAFTY |
ing to know thar they appreciate the sit !
uation and will profit by the advantages
that are theirs.