New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-13
"HEAR THE OTHER SIDE"
NEBRASKA INDEBTED TO EASTERN CAPITAL FOR
ITS PROSPERITY.


ITS PROSPERITY
To the Editor OF The Tribune.
Sir Since August 49, 1871, judgments numbering
ISlO have been entered In the Judgment records OF
Madison County. Nebraska. amounting In the ag-
gregate to than s1500,000 Including interest
thereon The records show that only Az have been
fully satisfied and discharged large portion
OF these judgments obtained by manufacturing
concerns for farming implements sold on time"
Nearly all OF the balance In favor OF merchants
for provisions. wearing apparel. lumber. hardware,
etc. and against farmers and aboring men. Thou
sands Of the above judgments have become dor
mant." outlawed, absolutely worthless as Will be
shown. Comparatively few attempts have been
made 10 enforce the collection thereof by distress
warrants executions the majority of executions
heretofore issued having been returned by the
officers Of the law without levy.
II Is safe say that nearly. IL not quite slOooOOO
worth OF machinery provisions, clothing and other
necessaries OF life have been contributed by manu-
facurers |bloated bondholders and monopoists, IL
you please) and our home merchants to the people
OF this county. and. taking this one county as a
criterion am I not justified in the assertion that
more than $4,000 900 worth OF goods and merchan-
disc have been contributed actually donated. to the
poor people OF Nebraska by souless Eastern monop-
osts for which they have been cursed. boycotted.
ma,lgned. and have not been once remembered In
our prayers for 10. these tweny years?
Is any justified In saying-can he truthfufy
say-that people have been distressed and ruined
by Eastern corporations? No class OF people in the
world have been thus generously treated. Let us
be honest. give the devil his due. and then II we
must charge the adversary with oppression usury.
coercion In Isolated continue to do So but the
credit side Of the ledger will show unheard-of lib
orallty probably without a parallel In Western his
tory The nunificent contributions OF cannot be
called by any other name) enabled our farmers to
prosper as no other people prospered in the
West Merchants not thus favored VINO are
compelled pay for merchandise purchased In
the East and sold long time" TO farmers and
laborers: neither manufacturers who purchase
the raw material make It into wagons. mowers
reapers and other machinery used on our farms
The wOrkmen In their employ receive in cash
stated sums at stated times They are not paid In
worthless notes. or in promises 10 pay In six or
twelve months "if crops good and prices right"
When this section was first settled by the home
seader Eastern manufacturers well knew that
debts contracted and judgments obtained prior TO
the issuance OF patents by the United States Gov
ornment void not liens upon realty and could
not be enforced by process OF the courts They
relied entirely upon the honesty and good faith OF
the debtor class-nlne tenths OF the people-whtch
resulted In the loss OF millions OF dollars, as above
mentioned.
AS to farm mortgages Farmers generally were
not compelled to borrow money OF Eastern gold
bugs" they were solicited TO borrow money
At usurious rates OF interest 1t is true that many
borrowed money to pay debts contracted as the
result OF acknowledgement and lack OF executive
ability. Machinery was bought on credit and
allowed to rot In the fields which was replaced
with the most modern and expensive implements
on the market all OF which was PAID Tor - WIN WIN
interest. Many more mortgaged their farms for
the % the Of sn suy@ onns s'a hd @
around Others used the money thus obtained 10
cut:ie and hogs They had value dollar for dol
lar In the borrowed capital. which, 1udicousiy ex-
pended. enhanced the value Of their property ten
Then why in the OF equity and good CON
hing and trocaiming 20 the world through their
oiicaI orgnns'' and representatives. that the East
eri "gollbuRs'' sapping their very HE blood,
every drop ~ which was drawn from unsuspecting
Eastern capitalists?
our laws should protect the rich and poor alike.
MANY farmers who squatted the public domain
are worth to-day 5000 $1,000 some s2OVo. all hav-
INK begun without any capital There are not IN
his country ten merchants worth Sl0ocJ. over and
alb We their liabilities: not half that number OF bank
,rs worth $4,000 The majority Of farmers own bet
ter houses horses and carriages. haye more money
on deposit in the banks. than any other class o,
people The hue and ciy about farm mortgages and
Judgments Is arrant nonsense for the obligations
we're contracted voluntarily Those who In an early
who made It possible for Nebraska in less than two
decades 10 develop into great ana wealthy STATE
do,ed. hut they bear their losses meeky. and have
yet read sing e newspaper article bera,ing me
farmers for their Inability or refusal to pay Just OBJ
W The connection It must be borne In mind that
all farm mortgages are not held by loan ana trust
companies In the Eastc~n states. Widows. retired
farmers and trustees ot es2e navs nd ,ha my
security offered was gilt edged Again. thousands
sold their farms 30 gull bic Eastern capitalists. by
mortgagng them for double the value thereof. with
The sole purpose and intent 70 derraud, and after
ward allowing them be sold under foreclosure pro-
ceedinCs at great expense. No doubt many attempts
counties hut the value Of farm property has risen
rapidly that II Is worth double treble the amour,
Of the Indebtedness thereon hence the curses heaped
upon the mortgages. -
Railroad corporations nowadays are receiving run
that they have guilty Of extortion abused too
often their privileges: but souess "a they are. they
must be credited with Just what they are legitimatey
entitled to the hands Of the public.
Twentv wears ago before the advent Of the Union
Gie,enre ~ thrty-ve miles s. and 81 per 1000 feet
Tor lumber about the price for the prvilege Of
drawn by oxen or horses In contrast with the pres
rate OF transportston mst@rs ana farmers
over the railroad magnates" OF today Before the
land in mis- Vicinity could not be sold FOR 81 pc,
acre. cash: 1t cannot be bought now for less than
money expended IN the construction q railroads and
other internal improvements in Nebraska. II would
m be the Great Amercan Hess sa 10 ,S by o bus
The railroads were largely instrumental n the
settlement development ans enhancement Of real
Revenue derived from the said corporations is ~
,nnortsnt factor in the matter OF taxes alone 10Y
M, or rho companies paid nearly one-eleventh OF
the taxes levied In this county.the wagner car n
pany eeSph IN arr an" numbP OF scboo
districts in this state paid by the said corpora
lions TO the credit OF the aforesaid districts amour.
~ much more than is received for carrying passen
gers and shipment Of all farm products combIned
gent public draw its own conclusions Further com.
,nent is unnecessary. AEQuiIAS
Madison Neb April 10. ls9'
A DISGUSTING HABIT