Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1896-09-15
is IN the land the same as lift had

l1ot @oeeu 1OfeclOSeQ and take the |
surplus and invest in a home else
where. This redemption right,
in one form or another, giving
the owner one years time after
decree or foreclosure sale, exists
in the majority of the states, and
no provision exists in any out
standing mortgage by which it
has been or can be shortener, as
such provisions are held by the
courts to be illegal. See 20 Am,
and Eng. Encyclopedia of Law and
Equity, page 600 and so decisions.
In some of these states the de-
cree is taken for foreclosure and
then a rest is made. without any
sale for one year, in order to en-
able the mortgagor to obtain the
money before the premises shall
De oHered Tor sale. In many of
the other states the sale is made
but the mortgagor controls the
property for year after the sale,
during which time he is given
the right to pay off the claim and
have it discharged, sale and all,
or sell and convey the property
TO any one subject to the claim
and sale for them to discharge
the sale and claim on the pro-
perty.
Those of your readers living in
either of the Dakotas will find
the statutes defining their re-
demption rights from either
mortgage or Judgment sales in
sections $3.50 to $3.50, and 5421 to
1924 Revised Statutes of Dakota
Territory for 1887. Those living
in Minnesota will consult Sec
tions GOAL to 6044, and 1904 of
Revised Statutes of Minnesota,
1894.
Those living in other states
can find whether the redemption
right prevails in their state by
going to the nearest justice of the
peace and irquiring for a copy of
the revised statutes of their
states, and turning to the word
redemption in the index, then
Mortgage Sales and Execution
Sales, and then turning back in
the statutes to the section or page
indicated by the index, or by con-
sulting any reputable attorney.
Then this terror held over them
by the gold standard power will
removed and they can vote in
telligently and independently.
Doubleday's Financial History
informs us that when England
went to the gold standard it pro-
duced az money contraction and
the lowering Of all prices of pro-
perry and precipitated business
failures and mortgage foreclos-
ures to such an extent that out of
100, 1000 land owners the mum Der
within ten years was reduced to
10000 by reason of foreclosure
sales, and that persons who had
purchased farms and paid one
half down and mortgaged back
to secure the other half lost their
entire investment: Dare any
gold standard men deny this
fact? We challenge him to do it
and produce his proof. In our
own country the hard times pre-
vailing Immediately preceding
the adoption of our Constitution
arose more from the insufficiency
of legal tender money than from
any other cause. This was the
cause of the panic and failures of
1887 and up to February, 1857,
the coined money, including sill
YER of other countries was, by
virtue of a law made by Con-
gres, legal tender here, the same
as if it had been coined in our
minis according to it's proper
weight and tineness as compared
with our coinage; and it had the
same force and effect in our
country as if it had been coined
in our minis. At the time and prior
to then the greater portion of the sill
yer money in our country was the sill
yer coinage of foreign countries. In
February, 1857, congress destroyed
this foreign coined money as legal
tender in our country by repeal of
the law which at once reduced the le-
gal tender money Of the country and
as a result there came in 1857 bust
ness failures, the lowering of prices