The advocate., 1895-01-16

one, and the strongest PROOF OF sthls sSavelnonV
is found in the fact that money on real estate
loans can be obtained more easily, and at less
rates OF interest, in Missouri and Nebraska
than 1t can In Kansas.
There are two important considerations tnat
are taken into account by every prudent, care
full investor. The first Is the complete protec-
tion from loss, the absolute assurance that the
loan will be paid; and the other is the prompt
ness with which the debt can be collected, In
case it is necessary TO resort to forced sale OF
the security You may enact as many laws as
YOU please but you cannot disturb the immuta-
BILE law OF trade that makes the rate OF interest
depend on the security and the ease with
which the loan can be converted into ready
money; and any legislative enactment that de-
preciates the security and lessons the ability
to force the collection OF debt increases
the rate OF interest and works common hard
ship on all borrowers. Under the present law
the borrower can, without paying interest or
taxes, retain control Of the property pledged
for security for two or three years, and can
cause q serious depreciation in its value. This
fact would prompt every conservative investor
to commence action to foreclose as soon as
there Is any default in interest Under
prompt foreclosure law the lender would, in
most cases, exercise greater leniency, knowing
that he had the power at any time to collect his
debt when he finds that the debtor Is making
no effort to pay. 1t is q rare thing In Kansas
to find q lender who will not be lenient with
borrower who is making an earnest, honest
cheerful effort to meet his obligations
The proceedings In foreclosure should De
made as simple and inexpensive as 1t Is possl-
ble TO make them, with due regard to the
rights of the mortgagor The Missouri form OF
trust deed has proven, after many years OF trial,
very satisfactory. Something Of that charac-
ter, with provision that the mortgagor should
have the privilege of redemption for twelve
months, by paying taxes, insurance and inter-
est would doubtless be satisfactory to the Dor
rover and lender. am confident that the DosE
interests OF all classes would be promoted py
the enactment Of such laws as would Lend 10
restore confidence in our ability and willing
ness to promptly meet our obligations.
Insurance Laws and Insurance Department.
The law providing for the organization OF In
surance companies-life, fire, and casualty
not only need careful revision, but provisions
might with propriety be added to authorize
! the incorporation OF accident SocletleS
! or associations. Such associations organ
! lied under the laws Of other states for
the purpose Of eiecting insurance upon
the lives ana persons OF certain CLASSES OF men
against injury or loss resulting from external
ana bCclueubbl Lu9buSS ubbO bOOA AOAAo SNSA
ness in this state for several years past, and dc
not seem to be within the control OF the insur-
ance department. This ought not to be permit
ted Insurance companies Of the class men
toned whether organized under the laws OF
| this state or under the laws OF any other state,
ought to be made subject to the jurisdiction
! and control Of the insurance department ana
certainly our laws ought not to permit any class
| offoreign insurance companies to transact bus1-
ness in this state, and yet deny to our own cit
liens the right to organize like companies
Some OF the companies referred to as accident
associations organized under the laws OF other
states, and doing business in this state, are
said to be secret associations, having ordinary
rituals, signs and passwords, like other secre'
societies. 1 doubt whether such organizations
or societies, should be permitted to transact
business Of insurance in this state; but II they
are permitted to do So they should be brought
under the Jurisdiction and be made subject tc
the control OF the insurance department.. II
might be well for the legislature to consider
the whole question OF fraternal insurance, so
called as we'll as accidental insurance, and
make suitable provisions respecting the terms
and conditions upon which suoh associations
may transact their legitimate business in this
state.
Irrigation.
The subject OF irrigation is one OF vast Inn
portance to the people OF this state. In nearly
one-half OF the state the scant supply OF the
rainfall makes general farming uncertain ant
precarlous business, and renders compare
lively valueless except for grazing purposes
millions OF acres Of the choicest lands in thI
} state With an ample supply OF water at tn
} proper season at least twenty millions OF acre
OF land now not worth on ON average more thar
} tWo-and-a-haR dollars per aore, could b.
J given value OF twenty-five dollars per acre
adding at least four hundred millions Of dollar
} TO the wealth OF the state and making that sec
: tion the garden spot Of the state Numerou
theories for the prevention OF drought have beel
/ advocated and tested, but they have provel
} failures, and the people are now turning to tn
D subject Of irrigation. There are some dim
oultles that confront them. The amount Of tn