The farmers' union. (Memphis, Mo.) 1891-1895, 1893-10-12
SHERIFF GOT HIM.
How Old Highrate Plays the Game Of
"Freezeout."

last:
Why, you see: oh, why told him two
years ago that he couldn't make it,
Make it how, pa:
Well, you see it was this way. II
1881 he married Mary Lee, she. poo,
thing, had $1,000, with it they wanted
to buy farm. She wanted to buy the
Morris eighty for $500, which would
have left them out OF debt with little
to goon.
| Why didn't they buy it:
| They would have bought it. but old
Highrate, from town, got around them
and persuaded them to buy sl6O acres OF
him. and 50 they did, going 1000 in
debt for it.
That was II years ago, pa: why didn't
they pay it, prices We're good then,
wcrn't they:
| Yes ana they made some money, and
offered to pay SO as to reduce the prin-
cipal, but old Highrate said no: am in
no hurry, use the money to improve
with, so they did. For four or five
years they paid the interest and spent
lots Of money in improvements.
What improvements did they make:
They built big, fine barn, drained
out the west lands. put up miles of wire
fence and set out and cared for their
big orchard.
Now, you say, they are sold out:
Yes.
How did it happen, pa:
Well, you see for four or five years
prices for farm products were good.
Then was the time he should have paid
out. instead of making such extensive
improvements.
Why should he. pa?
Because prices commenced to go
down then, and after paying 81 600 of
the principal. it was almost impossible
for him to reduce it any lower. Taxes
increased and for a few years it was all
he could do to pay the interest. Then
he fell behind and gave his note for the
interest for few years till now Old
Highrate takes advantage of the panic.
when nobody can borrow dollar. and
forcloses the mortgage and bids in the
farm at sheriff's sale for 81 900.
For 81 900?
Yes.
How much is the farm worth. pa:
If prices were as high as when he
bought it, it would be worth $4,000.
And he only got 81 900:
He diden't get a cent. he simply got
credit on his note for 81 900. leaving
him still owing several hundred dollars.
Poor Mary. it will nearly kill her. She
has worked like IA slave all these years
denying herself every luxury in order
to have a home.
You said you knew he couldn't make
it. two years ago. how did you know it:
Why, because he was getting further
behind ever year with his interest. 1t
was simply question of figures and
time when he would be closed out.
Now, pa. do you know that it is sim
ply Il question of figures and time when
the sheriff will close you out.
odd man thunderstruck. Me. me
closed out by the sheriff: You are
crazy | don't owe dollar in the
world.
You believe in figures though:
Yes. and if you can prove to me that
shall be sold out, I'll commit suicide.
Oh. pa, don't say that. for can prove
it to YOU in 10 minutes, that not only
YOU, but all the other farmers around
you will be closed out by the sheriff in
side Of 4 few years.
My son. what do you mean:
You said YOU kney it was only
question Of time with Smith. because
he was getting deeper in debt ever!
year. and
But, my boy, am not in debt at all.
and
Hold on. pa. You are a good Demo
crat. arn't you:
Yes. indeed | am.
You believe what Daniel says, don't
you:
Yes. sir. Didn't vote for him when
he run for congress f,om Terry Hut.
don't mean Dan Voorhees,. l mean
Senator Daniel. of Virginia.
Oh. we'll I'll swan. why yes, OF course
do. l believe every word he says
Does he say we'll all loose our farms:
Not in so many words. but here is
what he does say in his great speech in
the senate in September. 1898, as pub
lished in the NOnconformist:
In 1850 the total private indebted
ness OF the American people was S.. '0o,-
OOo. 900. In 1890 it was $500. .OOO. 900,
an increase of $4,000. 100000 in 10