The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1893-03-03

Than bali Tho mortgages In tho coun-
try, especially those on farm lands, are
overdue that ls, the terms for which
they were made have expired, aud tie
mortgages have tho right 10 demand
their money. IIow many farmers can
pay their mortgages at oncel Tho
consequences Of refusal will shaltor their
hopes. Either the Sheriff will soil
their farms, or they will be forced to
execute mortgages containing gold
clause and bearing higher rates of in
forest.
When silver falls prices win be in
datcd transactions will be qulckened
and then, IL Is true, mortgagors may
pay OF their debts iu cheaper money.
When this occurs, tho MOI tgagees will
suffer. Tho insurance and trust COM
Danies aud the sayings-banks viii re-
ceive their pay in deprecated money,
aud, in their turn, will pay the interest
and principal Of the sums which they
owe IN money that will buy but frac-
ton of tho quantity Of goods that may
be purchased by the money OF to-day.
The silver dollar of to-day is worth
less than seventy cents. 1t IL brought
In the market ouly what II is worth Ia
food, raimcnl, or house-rcnt, ono hun
dred dollars In silver woild only Luy
what could be purchased by less than
seventy dollars In gold. II Is more
sentiment growing out OF the statutory
promise that cannot DO kept which
prevents such state OF affairs IN the
market. This sentiment Is giving
way under The refusal OF Congress TO
repeal tho Sherman act, and because OF
The drain on the gold resources of ihe
When what seems to be in-
ovliablc comes 10 pass, the mcn who
work for fixed sums, wages, and salar-
rics, those dependent on small luvesi-
nents, the pensioners, and all lhoso
whose incomes arc derived from trust
unds, wall receive the exact number
If dollars to which shoy arc entitled,
1ut each dollar will be worth lcss In
goods than Tho same sum Is to-day.
These are simple examples OF what
viii happen 10 those who fondly be-
icvc that cheaper aud more plentiful
money will enrich them. In the great
money centres the shIfling valuo of
win cause disaster that win
30 felt from one end of the land 10 tho
'thcr, but the shrcwd aud capable
business men will make money out Of
he misforiunes of the inexperienced.
Nhen the country voluntarily adopts
lepreciated silver as It's currency 1t
'oes out Of the worlds exchanges ~
u equal with the other great money
lowers. Tho worlds business has
'een drifting TO this country. aud New
FORK Is rival of London. This adj
antage we surrender when our mon-
y is'sllvcr. Exchanges that arc now
on Wall Street win then
C made In London, for here the pur-
haser cannot know what may bc to-
morrow The valuo of that which he
uys to-day. Already tho bankers Of
Vail Street are taking advantage of
be disordered condition Of affair and
Fhen the bottom has fallen OUT, aud
ne have assumed our place with Tho
liver countries of South America, ihs
rofts Of those who are watching the
xohange market win be increased at
10 expense OF Tho farmers and others
'ho ship their products 10 Europe.
The widespread effect Of the de-
recitation of money on corporatims
nd their customers Ia beyond calcula-
on. The goId-bcarIng securities TAX
q by tho banks as collateral represent
q Indebtedness that runs into the
lousand millions Of dollars. The g.
Ilily to redeem these securities rests
the monoy-earnIng power OF The
cbtor corporations. II these arc to
'ceivo their pay In cheaper silver,
-.