The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-01-31

pay u6HG aG once. Inc money issue
then Is based ON a falsehO0d, a deceD
tlon and lie. If all the debtors hay
ing land would present it TO day and
taxable value; the result would ba a
loan if taken at ALL from the money
sharks, at Or or 10 or 20 per cent.
annual interest say for ten years.
What would the result # that beY
Past experience shows that the profits
derived from improved farming is
about per cent. The difference be
tween this and say an average Of s
per cent, IS per cent. or $5 on the
hundred per annum. which equals $50
OF q loss TO be paid in addition to the
capital borrowed ten years before.
Now let us suppose that Mr.. Battles
purchase of q farm in 1860 amounted
TO S6 900, and that he paid down So 600,
and borrowed 50, 900 for thirty Yeas
at 8 per cent. annual interest Say
that be was industrious and averaged
q per cent profits per annum on his
investment This would amount to
$3.50 per year cl or money ard farm
ers will know that he is quite o clever
farmer to II AXE this, but the s per cent.
interest amounts TO $240 annually and
he ia working on industri0ualy under
q loss Of $50 per year interest So his
account at the end Of thirty years viii
stand about thus:
Cost or value of farm -. Sc 900
Borrowed money. y............. So 900
Inst on loan at S per c5 so yrs 1900
$40. 200
Net prof from farm $50 for 80
years. ...... ................ 81 5OO
Bal amt principal ard interest
due after 81 years .......... 5 700
Supposing place to have s)ld for first
cost, $6 900, we have balance after
farm is sold and debt is paid of $500
and thi4 is fair picture Of what went
with Mr.. NJ Battles farm, It was
the money whale, and nQE the land
shark. that got it. OF course the last
80 gears brought time through period
of our c0untry's history that likely had
much TO do with the depreciation, but
the above is the condition Of hundreds
ut thousands of 9th, rs, and the real
cause which hos brought 1t about
Now let us eee what would be the PIC
ture under the government farm loan
system:
Value OF farm. ............$ $6, 600
Loan fr III government al per
cent. nt................... So, 900
Inst on loan at per cent. for
30 years. NEUTRALITY-SUSPICIOUS.. 900
, $3 900
NGO profits Oh farm $50 fo1 50
years. Observation-Disclosures. 4,5OO
Net profits after principal and
interest Is paid. ............. 600
Farm does not have To be sOld and
much more can be said in favor of this
loan plan from the facG that interest
will be practically abolished, and
money will not be boarded in banks
for nigh rate Of interest, but will be
used by industrial people more instead
of so much by Spectators. Being
eight times more abundant IN Circula-
tiOn, there will be plenty of money I'D
pay for much labor and improvements
that will go on. In f9 It. prosperity
Will be so general that Nj. j B will
pay up his debt in less than 10 years
instead of 80 years.
If this money and loan system was
adopted, it would save the debtor class
of our nation from 1920, 600 600 @
81. 900, 600 900, interest money every
year Mr.. M J. B. can think how
long it would take such a condition of
affairs to work a change more favor
able TO poor fellows" " IKE US. am
with Mr. Battle for a "stay law" and
national bankrupt law and with our
Governor and legislature, Democrats
and Republicans and POpulists for
more roads and decidedly better roads,
but [ am not to be side tracked with
this road and State bank hubbub from
the basic issues Of our reform which is
down metallic basis and interest and
up with federal money legal tender,
loanabIe on real estate a5 per cent,
and up with government ownership
and operation of transportation at cost
and graduated taxation for all govern
ment purposes" Down with finan-
cial commercial and taxation system
of oppression which is no more like
Washington, jefferson, jackson and
Lincoln wanted it to ba than day is
like night. SAM ARCHER.