Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-18

figures OF the census are s2.isz.sis,sss) No
Information Ia given In the article from
which rate OF Increase can be deter
mined. and as nothing definite can be
found as 10 such an increase In any OF
the sources referred 10 by Coin" u must
be dropped from the items furnishing
basis OF estimation Of the increase Of the
country's indebtedness II Is instructive
20 note that IN this article Mr.. Porter
says: by far the largest proportion OF
real estafe-mortgage debt has been IN
CURED to secure the purchase OF land.
and the cost OF improvements stands
second In Importance. The security OF
purchase Is generally 70 10 70 per
cent OF the real-estate mortgage DEBT OF
the people Of a county. and improvements
generally represent from 10 TO 20 per cent
OF the debt
Purchase-money and improvements. 10.
gether, therefore, represent from so 20 rs
per cent. OF the s2,5Oo.0o0.0o0 farm and
home debt according 20 the authority
Coin" refers his readers to. so the balance
OF the debt not undertaken freely as a
business venture Is very small. MT. Por-
ter also says In his article that the debt
OF Chicago is S24.373.l70 more than the
farm debt OF Kansas; si2,7O3,5Si more than
the farm debt OF Iowa, and Sll2.0JSs50
more than the entire mortgage debt OF
Alabama and Tennessee" and that the
bulk OF the debt In the last two States
may be found in the counties In which
are located birmingham. Nashville, Knox
vile, and Chattanooga" great Industrial
and speculative centres. In trying 10 ma
the sufferers, It Is useful 10 know that
oil
the amount OF mortgage debt on acres
(farms) in the State OF New York ex-
ceeds the amount Of the same class OF
debt in the nine Southern States on the
Atlantic and Gulf coasts. The number OF
families In debt In New York Is more
than four times the number In all OK
the nine Southern States. and even In
New Jersey the number Is greater.
In any OF these nine Southern States
the greatest percentage OF families own
ing incumbered farms and homes 10 the
whole number Of families In the State Is
lin Texas. 2.42 per cent. In Virginia the
percentage is 149 per cent In New York
the percentage OF such families Is 1888
per cent; and in New Jersey. 1885 per
cent
Our impecunious classes or regions are
rot involved In mortgage debt 10 any
farm and home mortgages indicate a
certain amount of resources, and not
poverty.
OTHER MORTGAGES.
Next we have mortgage indebtedness
Of business realty, street railway, manu-
factories, and business enterprise (esti-
mated from partial reports Of eleventh
census) 5000 600 900.
No publications of the eleventh census
0S9O containing the above figures or any
figures from which the debts referred TO
can be estimated, have reached the Nir-
ginia State Library, the newspaper Offices,
or other places in Richmond that II mas
seemed probable they would have been
found in The figure given is not claimed
by Coin" to be definite, and, therefore
ii must be excluded from items forming
the basis upon which he estimates the in
crease Of debt.
LOANS FROM BANKS, ETC.
Loans from banks, trust companies, etc,
are out of place in this list. The money
loaned out by the banks has gone to
those included in other classes The
banks, as here shown, are creditors, not
debtors This is another instance OF
methods.
we have set out however, 10 follow
increase of 5000. 100000, and, without pre-
judice, az the lawyers say. we may be
allowed 10 see what he makes out OF MS
drag-net of figures.
Next, Loans from 3,77S national banks
Statistical Abstracts OF the United
States), $2153. 769. sos
This statement is found In the ABSTRACT
for the year 1892, on page 40, and repre-
sents the condition Of national banks on
September Goth, of that year. The alb
stract for the following year had been
issued before "Coin" published his book,
and he must have known that, Instead
Df any increase. there was at that time
a decrease Of $4,000 eco. II Is difficult
10 keep from the mind the idea that this
suppression was prompted by a delibe-
rate purpose to deceive the public. There
IS a great mass of internal evidence of
such apurpose in his book. Its author
s not young Though very fresh). but he
las yet TO learn and profit by the trite
aging, "All of the people may be fooled
some OF the time, but all Of the people
cannot be fooled all Of the time" A later
the latesO abstract shows that months
ifter Coins book came out, there was
still a decrease of over $46,OOO,WO from
he figures he gives.
Next. Loans From 5.579 State. Saving.
X.
oanies Statistical Abstracts of the United
states), 500. 764, 292"
No such figures are given In the sta
-istical Abstracts of the United States.
The same abstract from which Coin
luotes in the foregoing paragraph gives
oans of savings banks (as do all others.
,ut no mention is made Of state, Stock
md Private Banks. and Trust Compa-
hes" The Comptroller Of the Currency,
however. in his reports. gives figures
or all these concerns, and, instead or
IN increase of loans, there is shown TO
,e a decrease altogether in the two years
exported since "Coin" gave his figures
If over $63,O0O0O0.
The reader is artfuily led to suppose
nat the figures given are those Of 1890,
md that several years increase is TO be
added to them, but this is not so; the
national bank figures, s2153,769, SOC, are
hose of September 30, 1882. and the figures
b POI, 764 49, for other banks, are
given by the Comptroller of the Cur
-ency for the year ending June 80. 1892.
In neither case has two years elapsed
since Mr.. Harvey published his book.
Recurring to Coins statement, IF the
same progressive ratio Of increase is
added to these figures that maintained
from 1880 TO 1890. over 5000. 900 should
now be added to the items given above"
il is shown that instead Of any increase,
there has been a decrease Of over $l,06i,-
BOO. 0C0.
When he wrote his book Mr.. Harvey
had never seen any figures from recog-
nized authority showing any increase
whatever in the sum OF the Items he
mentions. Had ne attempted to support
his still more absurd estimate OF mari
time debts, accounts of pawn-shops. pri-
yate debts not on record, rentals, and
other debts due on contracts, ETC. (over
SIS. 900. 900 900. 1t would have been equally
practicable to have proven the msrepre-
sentation. DEMOCRAT.
DANyILLE.
ModIfn Sentenced-A Lunafic Dies In