Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1894-03-29

OWCIS Q1lI
chattie 'cahs made in Minneapolis.
The main features in that report are
that there were filed in the clerks
Office in 1893 1900 chattle mort.
cages, the fnce value Of which was a.
bout $4,000; tllat the loans we're
made for short terms, ten per cent
being deducted from their face;
that the average amount 81 each loan
was $40, the amount received by the
borrower being $50; that by fur the
greater number gave SECURITY on
household furniture and musical in
strnments, showing thatthe borrow
er wasin some great pinch or dire ne.
cessity that drove him to the Insurer:
that the actual amount OF money used
as capital for those loans was be-
tween $4,000 and $4,000, the
same being turned over three or four
times during the year, and TINT the
investments netted the owners sum
equal to the principal. To be plain,
the usurers OF Minneapolis extortetl
100 per cent interest from their fell
low men in their time of misfortnnes
and distress.
What is Mr.. Powers remedy for
this evil? More money. Of course.
He seems to be endowed with con-
mon sense. He says: The problem
OF how to free the poor from the ex-
tortion OF the money loaner is then
the following: How can more money
be secured to be loaned, and how
much will be needed to practically
end extortionate loans among the
poor OF such city as Minneapolis on
chattle mortgage security? Thef,lcts
here presented would Indicate that
SAC, 900 would suffice to fiji the place
Of the extortiOnate loans now made
in Minneapolis on chattel mortgage
This is 4 showing up Of the sitna-
ton in one city. A like condition ex-
lists in every other western city. Ii
exists in tlecountry. Thefnrmers Of
the Red River valley are suffering un-
der almost similar conditions. They
put q chattel mortgage on their live
stock. on their plows, seeders, mow-
ars, on their growing grain, andeyen)
IN the grain before it ii sOwn, and
doubtless would plnster the backs 81 |
heir wives Will, mortgages ii money
'onll be r,lise.l in that way. We do
lut blame them for this; it IL q neces-
'ity in which they find themselves.
The remedy is more money. Mr..
lowers says il there could I've got III
ONE way $40, 900 more money into
minneapolis to ln. lonned out to the
'oor it would correct the evil. There's |
he rub. team be got unless the
ictims can be BLEED still deeper. The
money is not in existence. There !.
OF enough ofit. Every community /
J suffering with the same disease, ex-
opt perhaps q little territory In New
where there more rocks
han hearts. And why should not
hose who have money to loan, when
hey make 100 per cent = year, obi
ct to the increase Of the currency?I
might reduce their gains probably
, so per cent, and TINT would ruin
lem. They believe in money oil
gh valne; honest money that Is
orth 100 per cent, rs we'll MS TOOL
MIS- OH the dollar.
The voters 81 the Seventh Concrrs
nnal district d Minnesota, and in
| the districtsin the sta q. for Tint,
after, will vote against theirinter-
e, will vote to perpetuate their
W poverty, il they deposit their
ter for q candidate for congress-
10 is not pledged to hefree and I'M
nited coinage Of silver loor-
nd News.
GREAT MUSIC OFFER.
send us The MINES and addressee
three or more performers on the
mo Of organ together with eight
ltsjin postage md We will mail q