The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-09-11
How 1t is Crushing the
World.
THE VAST INCREASE OF MORT
GAGE INDEBTEDNESS IN
EUROPE, ASIA AND
AFRICA.
The People Falling Into Slavery
to the Money.Lenders.
READ AND PASS TO YOUR NEIGH
BORS.
(The National Watchman.)

(The National Watchman>
A publication was issued from the de-
partment of state some weeks since con-
tanning much value and trustworthy in
formation regarding the mortgage indebt-
edness of other countries. Those who are
not fully aware of the power of money
to oppress," anywhere and everywhere,
under certain conditions, would do we'll to
obtain copy of this document and read it
carefully. 1t contains reports from
merican sonsuls stationed in every ma
tion on the earth, and comes laden but
with few exceptions, with the same old
story of unequal conditions and increas-
ing hardships with which this country is
SO familiar. 1t brings proof of the saying
of President Garfield, that whoever con-
trolls the money controls the people" Ac-
cording to the statements of these consuls
there is not country today upon which
the sun of prosperity shines ,and but few
nations whose mortgage Indebtedness is
not increasing. 1t is true, therefore, if an
increase of mortgage is followed by adver-
w
prosperity. This publication presents
the most solid array of testimony to the
fact of the complete enslavement Of labor
in production to the power of money that
has ever been given to the public 1t is an
authentical acknowledgment on the part
of the government that instant and radi-
cal reforms are necessary in thta direction,
in order that the growing tendency OF
class formation among all people in all
nations NAV De checked. 1t is not only
astonishing but heartsickening to read the
statements Of each government in its or
der and find the same conditions arising
from similar causes running through
them all.
Beginning with the continent of Europe,
Austro Hungary is quoted as being heav-
lily mortgaged, especially the agricultural
portions, with tendency toward rapid
increase, fully one~half of such property
being encountered. Interest about per
cent.
In Belgium the recorded indebtedness
for 1886 was 206 1867 900 francs, while the
total amount of valuation taxable was
only 341, ,047O00 francs. 1t shows all
kinds of Indebtedness to be on the in
crease Interest about per cent.
The condition Of Denmark diScloses a
bad state of affairs indeed. The mort
gage indebtedness on landed estate dur
ing the period from 1870 to 1884, in
creased to an average Of Al per cent of its
selling value while the mortgages on Co
penhagen city property was fully 70 per
cent of the value of building and ground.
The condition of the farmers in particu-
lar is shown to be almost unbearable. In
terest from 5 to Z per cent.
In France mortgage indebtdness is on
the increase Notwithstanding the method
Of intense farming that is practiced. The
amount of this kind of debt is placed at
about 35 per cent Of the taxable property.
Interest from 5 to per cent.
The condition of Germany from this re-
liable source of information is shown to
be deplorable. Prof. Preser says: There
is no mistake in stating that so per cent
of the entire taxable real estate in the
German fatherland is charged with mort
gage scarcely redeemable on the part Of
the mortgagors." DR.. Jaeger says: ''We
will scarcely fall short of the truth in es-
tmating the amount of mortgages at
taching to farming in tine German Empire
at round ten millard or marks ($2, 800
900 ,000). What German farmers pay
merely in interest to capitalists every
year is "a tribute Of about 500 marks $685.
0O0, 1907" Interest from to 6 per cent.
This statement sounds familiar, and
might have come from Kansas or Michi-
gan In Saxony, from 1879 to 1884, this
species of Indebtedness increased 1884
per cent, or 1856 per cent per annum. In
terest about 5 per cent.
italy is in no better condition: the mort
gage Indebtedness on agricultural proper
tv is given at about so per cent of the val
ue. Interest at about per cent.
In the Netherlands the statement is
made that the mortgage Indebtedness has
rapidly increased during the past eight
years. The report of the mortgage banks
show an increase of from 81 7,541 ,261 florins
in 1880 to 80 $685. ,S91 florins in 1887. In
terest to per cent.
From Portugal comes the statement
that mortgage Indebtedness is on the in
crease. with interest at to per cent.
In Russia very large portion of land
ed property is mortgaged for more than
two-thirdS of its value, and is bringing
about the usual results of misery and dis
tress. Interest from to per cent
In Spain the mortgage Indebtedness is
on the increase, the interest being about 6
per cent.
The report from Switzerland shows that
the ratio of mortgages to the total valua-
ton is from one-half to two-thirds, with
interest at per cent.
After a careful examination of all re-
ports from England there seems to be no
doubt that the mortgage Indebtedness of
that nation is on the increase In the
opinion of those competent to judge, from
one-half to two-thirds of the amount of
total valuation of taxable and assessed
property is under mortgage. Interest
from to per cent. In Ireland the con-
ditions are much worse and the means of
collection more severe and exacting
Statements from Scotland show that the
mortgage Indebtedness is increasing and
the value of land decreasing at a rapid
rate. In Glasgow seven-eighths of tae real
estate is mortgaged for two-thirds of its
value, while the mortgages upon country
property is almost universal. Interest
about per cent.
From the continent of Asia comes the
report that in Turkey Che rate of mort