The advocate and Topeka tribune., 1893-05-24

everything or the nAtufe or 'G0llRe' 10
changeable, shifting thing, 90 that every
thing connected with the future is a mere
speculation; but as all legislation is for the
future, it is well TO consider the probable
effects of coming legislation and Of present
legislation ss affecting the future. The
good or evil effect Of this act is done up in
the good or evil legislation Of congress on
the money question. The illustration that
I give commences with 1873, and ia all in
side OF this present shifting or transitOry
period.
ILLUSTRATION.
Au- -eighty-sore farm in 1873 valued at
$1,000 in coin covered by coin mortgage
for $1,000 drawing 6 per cent. interest.
This farm was then good security for this
amount Of money, and the owner could live,
pay the interest on the mortgage, and hope
TO soon be able to pay the principal and
have bis farm free. For this illustration we
win suppose that all he produced was wheat,
which was then worth in coin in New York
$1.6S per bushel. Allowing 4s cents per
buShsl for freight and expenses, the wheat
was worth $1.2O per bushel here. So il
would require just City bushels TO pay the
interest for one year. But with 1873 came
change. Silver was demonetized, and
also much other evil legislation eliminated
about this time; 80 prices gradually came
down, each year taking a few more bushels
for interest, as also for taxes and other ex-
pepses, so the mortgage was not paid, and
now we And the condition TO be- An eighty
acre farm worth $4,000, with a mortgage on
it for $1,000 with interest at s per cent,
and wheat worth 80 cents per bushel, or ian
annual charge on this farm Of 10 bushels.
But the mortgage is now due.
Let us continue this speculation into the
future. So far il has only reached from
1872 10 1893. The owner Of the mortgage
agrees TO renew for Ave years with gold
contract notes." and trust TO the courts
''knocking out" our law. The owner sees
where he 10, but cannot sec how TO do any
better; 80 agrees and signs "gold contract
and all. Time goes by. The money loaners
control all financial legislation throughout
the commercial world. The Sherman law,
the last connecting link between silver and
money in this country, is repealed; other
nations continue their gold standard legis-
lstion, so that the gap between the gold
dollar and silver dollar widens the world
over, and another Ave years has passed by
and we have an eighty acre farm valued at
s., 800, withs s., 900 mortgage drawing per
cent. interest, and beat worth 30 cents, or
an annual charge on the farm Of 200 bushels.
And our law had no effect.
Or again. Time goes by. The producers
have discovered "where they are at," and
have elected men to office who were true TO
the people, and silver is rernonetizsd and
other just laws have been passed, and an
air of peace and prosperity is among the
people. Prices are on the increase and the
courts have decided our aOt constitutional;
and we have an eighty acre farm valued Of
$500 with mortgage for $1,000 at per
cent, and wheat worth rs cents per bushel,
or an annual charge on the farm Of eighty
bushels, with the holder Of the mortgage
satisfied and the owner again hoping to
some time be able TO free the farm.
Or again. Time goes By, as by the last
statement, only the courts have decided our
act unconstitutional. Still our mortgage
is much better of, for instead Of the silver
dollar and the gold dollar getting further
apart, they have, under the great demand
Tor silver under free coinage and she
lessened demand for gold, come nearer and
nearer together, so We have now to pay but
10 per cent. premium to get gold dollars.
so WA hnua an aiahku. anra farm HnlnaA nk