The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-10-18
Farm Mortgages Payable in Gold.

ceived or desiring 10 deceive others.
Farm Mortgages Payable in Gold. i.
When il became apparent that the adop-
ton of free coinage would drive gold 10 a
premium. the first thought which present
ed itself was to its effect upon men who
had agreed 10 pay their obligations in
gold. To say that 1t would be disastrous
10 them tells il bat family. Those who
know how difficult il is TO get money 10
pay debts dollar for dollar would realize
the difficulty. yes. the hopeless task, OF
getting for that purpose a class of cur
rency which is at a high premium. In
Mexico. South America, and. Indeed. all
free silver countries. gold is at a premium
&C practically loo per cent. and ii is rea-
sCnable 10 assume that the same result
would follow In this country.
What would then be the condition OF the
man who had 10 pay his obligations in Il
class of money a 100 per cent. premium?
If he is unable 20 pay them with al the
money at par. how would he do it If the
money which he must use should be at
this enormous premium
1t was with this in mind that !. some
weeks ago, set about inves tigating as 10
whether any considerable share of the
obligations Of the farmers are payable in
gold. | knew that IN cities IL had been
the fashion 70 make mortgages and other
Gov. Alleged of Illinois makes the leases
Of all his tenants in the palaual buildings
OF his wealthy corporation payable IN gold;
that Senator Jones and Senator Stewart
make no denial that the obligations which
they exact are payable in gold. that Mr..
SewaI the Democratic candidate fer vice
president. makes his contracts payable in
the yellow metal which he denounces in
his political sphere / knew that pracii-
n .ts fn,
and states are now made payable in gold:
but I did not know how far this habit had
been followed by the farmers
II Vas with some anxiety. therefore.
that I set about this Investigation And
Il is with an increased anxiety as to the
effect OF free coinage upon the farmer that
/ contemplate the result of this iuvestiga-
ton. which Indicates that more than one
half or perhaps tw0-thirds. OF the farm
mortgages OF the United States are today
payable in god. and that none are nov
being renewed without the gold clause.
Letters from Farmers.
This astounding discovery is the result
az much careful investigation. Letters
ana kilograms we're sent 10 farmers. coun-
~ seats. and to business men who are
familiar with the methods OF their section.
The replies. OF course vary in their estl
mates but the summarlzatiou Of them
leads 70 the absolute and unavoidable con-
c,usion that a very large proportion % the
farm mortgages today are payable in gold,
ana that practically every one now being
renewed. or that VIII be renewed II free
coinage IS adopted. win bc made payable
In that metal.
This statement VIII doubtless be sur
Prise 10 many people ami. in some cases,
10 farmers themselves. While many farm
ers have quietly accepted these require
reafs. when hey were compelled 70 renew
their mortgages they have not discussed
What was % them an unpleasant subject.
and "a IL not improbable that some have
failed 20 note this feature % the ohliga-
lions which they have signed Long legal
documents. wnich cover pages Of printed
forms are not always read line ny line and
word by word. ana NOS a few oS the keen
business men OF ChicaEo who had agreed
20 pay their leases % Gov. Atgeld in god.
were 0ot aware II that fact untli their
attention vas callef q the wording -
their leases. si1re there was 10 necessity
for enforcing tae demand for gold coin 80
long as al the currency IS kept 2 par wl.h
taat Tet ai. A. any rate. whether farnn-
ers realize or % not realize the fat that a
large proportion of their mortgages ara
PAYABLE in gold taere can - no doubt b1r
shat IN - is the case. In order 70 show
that his assertion iz correct. 7 quotn from
J. fe~ - the letters and te.eEraus which
I nave received from various sections o.
tns country.
Grand Island Neo. Aux -. <-The
gold clause IS being usually 3ernarde& -
farm 'nf'. cages n3% ba4ing lFn are De-
ias. crowded O. 2 BELL"
M nneapoHs. N.un.. Aug- p lS%s -
= wen e~f4e per cent - me farm NOR
cages ln thjs section are payable sn god.
Stree me SILVER aGl;e slou began investors
~ans god Ho.es ~ith t1eir mortzeggs