The Irish standard., 1896-09-12

SuGCEGSe SE1ISSIE4~
Siets In the majority of the states and no
provision exists in any outstanding mort
gage by whichit has been or can be short
ener, as such provisions are held by the
courts to he illegal. See 20 Am. and Eng.
Encyclopedia Of Law and Equity, page
\ 900 and 50 decisions. In some of these;
states the decree is taken for foreclosure
and then rest is made without any sale
for one year, in order to enable the mort
gagor ito obtain the money before the
premises: shall be'offered for sale. In many
OF the other states the sale is made but
the MORT agor controls the property for q
year after the sale, during which time he
lis given the right to pay OF the claim
and have it discharged, sale and all, or sell
and convey the property to any one SUB
ject to the claim and sale for them to Dis
charge; the sale, and claim on the property.
Those of your readers living in either OF
the Dakotas will find the statutes defining
their redemption rights from either mort
gage or Judgment sales In sections 5150 to
5159, and 542l to 5424 Revised Statutes of
Dakota Territory for 1887. Those living
in Minnesota will consult Sections GOAL to
6044,' and 1904 to 6066 Of Revised Statutes
Of Minnesota, 1894.
Those living in other states can ind
whether the redemption right prevails in
their state by going to the nearest justice
of the peacetan inauiring for copy OF the
revised statutes Of their sta ties, and turn
ilS To tlC WOIu EcoSIupGlOAA 1AA LIZ A1ANS<N'
then Mortgage Sales and Execution Sales,
and then turning back in the statute to
the section or page indicated by the index,
or by, consulting any reputable attorney.
Then this terror held over them by the
gold standard power will be removed anc
they can vote intelligently and independ-
emily.
Doubleday's Financial History informs
us that when England went to the gold
standard it produced money contraction
and the lowering Of all prices OF property
and precipitated business failures and
mortgage foreclosures to such an extent
that out of 10000 land owners the number
within ten years was reduced 70 So,OVo ny
reason of foreclosure sales, and that per-
sons who had purchased farms and pald
one-half down and lnOrtgaged5 back TO Sc
cllre-the other half lost their entire invest
ment. Dare any gold standard man deny
this fact? We challenge him to do it and
produce his proof. In our own country the
hard times prevailing imnae diately preced-
in the adoption Of our Constitution arose
more from the insuff1ciency of legal tend
er money than from any other cause. Thls
was the cause of the panic and failures Of
1887 and up to February, 1857, the coined
money, including silver of other countries
was, by virtue of a law made by, Congress.
legal tender here, the same, as i it had
been coined in our minis according to It's
proper weight and tineness as compared
force and effect in our country as if 1t had
been coined in our minis At that time
and prior to then the greater portion of
the silver money in our country was the
silver coinage Of foreigne countries. In
February, 1857 congress destroyed. this
foreign coined money as legaEstender IN
our country by a repeal Of the law. which
at once reduced the legal tender money OF
the country and as a result there came in
1857 business failures. the lowering Of pric-
'es and mortgage foreclosures.
We are all familiar with the result Great
ed by the act of 1873 and 1874, stopping
the coinage OF silver and destroying its
legal tender character for the time being
to pay to. pay any debt of over 80 O. we
know the effect in 1898 by the action Of
the banks and the action of Cleveland in
converting congress to. destroy the power
Of the government to receive and more
silver, for coinage. 70.
The most ignorant know that the cause
of. our present hard times is low prices,
and it being conceded and urged by the
gold standard forces and the leading gold
standard papers when they are appealing
to the laboring classes and the people Of
the East that free silver coinage Lin
crease prices and thereby remove the
cause Of existing hard times, and in view
of the history and experience quoted show
ing that a lowering of prices always pro
duces an increase of business failures and
mortgage foreclosures. while an increase
Of prices has always .lesser1ed and decreas-
ed bushes failure and mortgage fore
closures and in view of the fact that the
prosperity of this country rests on the,
prosperity OF the agricultural class which
predomirates over any other, interested
cless, and that as these farmers get this
increase in price it will enable them to
cancel their Indebtedness or reduce it with
very business interest dependent on thin
for patronage. and success and. increase
their bank deposits and meet their mort
gage indebtedness 1t stands to reason that
these results will be brought about by the
election of Bryan and that rising prices
can not be made productive of business
failures and mortgage foreclosures. There
fore all business men who are embarrassed
farmers and others, and all good citizens
should vote for w. j. Bryan and bring to
everyone prosperity. ...-.:,
WILLIAM H. sTAND1sH.
Grand Forks N. D.: -#.e