The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-09-11

gage Indebtedness is increasing rapidly,
with interest from II to so per cent; that
all farmers are usually in debt, and that
the sacred soil of Palestine, from the
midst of whose borders came the divine
curse upon usury, and from the temple Of
whose metropolis the money changers
were driven with scourges by the Son of
God, the vampire mortgage has laid it's
shiny hand upon fully three-fifths of It's
valuation. In British Asia all debts are
on the increase, with interest from to
per cent. In China there is a large
amount of foreign capital loaned on mort
cages for commercial business purposes
at about 10 per cent interest. But
among themselves the Chinese have no
such transactions. They do not trust
each other to any great extent. They
make the basis of all credit personal Sc
curity, and all the more important COM
mercial enterprises are generally con-
trolled by families.
In Japan the middlemen are doing very
we'll, but the laboring classes are meet
ing with increased difficulties each year,
even in obtaining a bare living. The
farming interests are gradually growing
worse.
In New Zealand and Australia mort
value of property decreasing rapidly. In
terest from to 9 per cent. Were 1t not
for the wool industries these countries
would be in deplorable condition.
In South America the reports show that
mortgages are increasing in the Argentine
Republic. but not at the rate as in many
other nations. In Brazil mortgage debts
are on the increase, and all values are de-
creasing, especially in the agricultural
districts. Rate of interest about 6 per
cent. Taken as a whole, the reports from
South America diSclOseS better financial
condition among the people than from
any other section Of the globe. The cause
for this no doubt lies in the fact that as
yet the blighting hands of trusts and mon
Opolies have not been felt, and the money
of the country is comparatively abun-
dant.
In the provinces of British America the
reports Indicate that in New Brunswick
and Nova Scotia this class of indebted
ness is small, while in Ontario it is in
creasing considerably. In Quebec mort
gage Indebtedness is decreasing, especial
ly in the farming districts. From state
ments given the provinces are all in
fairly prosperous condition.
In Mexico the recorded indebtedness is
about 80 per cent OF the assessed valuation
of the taxable property and is stated as
not being on the increase. Rate of in
terest about to per cent.
The above summary of the reports Of
American consuls prove conclusively that
certain results will follow certain causes,
no matter in what cline or under what
form of government they may occur. They
also prove that under similar conditions
OF
same power to oppress'' With these
facts in view. how is it possible to argue
for an inflexibe volume of coined
money? If these reports are true, there
is not metallic money enough in the en-
tire world to pay 5 per cent of the interest
charges of its indebtedness. And there
cannot be coined money enough in exis-
tence to pay per cent of the debts OF the
people Under such a condition are the
wealth producers to blame for being rest
less? Is there not good reason for de-
manding a readjustment of economic sys-
tens? The same factors in production
and distribution which force the Kansas
farmer to burn his corn and the Illinois
miner to starve for want of it, compel
the German peasant to labor 16 or IL
hours per day and live on the refuse of his
production. The cause is not local or ma
tional: it is universal. There is general
conflict at hand in the immediate future
between labor in production and capital.
Disguise it in any other form, yet this is
the plain truth. When it will be settled
or how this settlement is to be brought
about, is and should be the problem which
must engage the attention of all who lay
claim to the possession of economic know
ledge. This question involves the highest
order of craftsmanship.