The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-16
A CURIOUS MENTAL TWIST.

We clip the following comment from
a contemporary on the news state
1nent that some British insurance COM
panies are preparing to invest from
million dollars to million and a half
in American mortgages:
There it is for you. large amount of
brush capital is ready for investment in
american mortgages. Englands policy has
and eager to take advantage of the victory
Every dollar invested will draw interest, pay
able in gold, and the American producer
must earn the interest This will add to the
demand for gold, which is already too scarce
and lessen the demand for silver the great
American product, which has been denied
tne right Of free coinage, and which Ameri-
cans should coin and use, instead of send
ing across the water to borrow the money
they need to transact their business with
Is 1t any wonder that the people of this
country are becoming poorer, and that the
private, corporate and national Indebtedness
OF the country is increasingly
Democrat.
We heard a good deal of this sort
of argument during the campaign. but
is it not time that this particular fool
ishness should come to an end, when
the prejudice to which it is addressed
is no longer useful as a vote maker?
The writer Of the above talks
precisely as if the British insurance
company or any other capitalist was
monster armed with a club. which
marched into our country threatening
to beat out everybody's brains who did
not take money from him and agree TO
pay it back with interest What is the
secret of this extraordinary utilization
OF capital, which has always been rec
ognlzed as one of the factors in the
production of wealth? Is there anv
possible sense at the bottom Of it.
unless 1t is intended as a preparation
for thoroughgoing socialism? Let any
man take an illustration from his own
experience and answer whether. in the
case of any given loan, it was the
owner of the money or the borrower
of it that was the more anxious To
complete the deal. Has anybodv
within his knowledge, been forced
to accept money and give a note for II !?
In the case referred to above, our
contemporary calls for the Iightnings
pany which is ready to buy American
mortgages. Now, what does the Amer
lean mortgage represent? Is there any
statute or any possible force at work
to compel the free American to mort
gage his farm If he noes not want to?
Is 1t not true that, wherever there is
mortgage for SALE it represents either
release from pressure or possible
future increase Of wealth for the mort
gagor? Does the American farmer give
mortgage for any other reason than
to secure ready cash which he needs
in his business? Is it not either to re-
new an old debt on better terms or to
secure capital for adding to his hold
ings or making necessary improve
ments? Is it not to his advantage in
either of these cases that there should
be somebody ready to loan him the
money? Would it be better for him If
the old mortgage were foreclosed with
out opportunity Of renewal, or il he
were to be told that he must forego
his Improvements and with them
possible handsome addition to his
wealth?
We have no desperate love for cap
ital, but it seems to us that desperate
and baseless hate Of it is just as un-
reasonable AM. unmanly. Every sensi-
bic man knows that the development
of this country and the enrichment of
it's people have come about through the
joint operation of labor and capital.
It's future development will have to be
carried on by the same forces, and the
Gripping Of either labor or capital jeop-
ardizes the national future and lessons
the national wealth. If it is wicked to
lend. why does anybody want to bor-
row? Why should we not send all this