Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1896-07-29
NAN WITH MORTGAGE
The Free Silver Craze Now
Presented i'm New
Light.
A FRANK REPLY TOAQUERY
Proof That Cheap Dollars Do Not
Pay the Farmers.
SAVINGS PLACED IN DANGER

ent Upon Small Investments Would
Have Their Incomes Greatly Reduced
All These Things Mus. BE Taken Into
| Serious Consideration Before a vots Is
Given for Complete Revolution in
Financial Affairs.
PHILADELPHIA, July 27.-A correspond
ent of The Inquirer who lives in Potts
town, and who wishes Co be known only as
"B, writes for Information and We shall
! give 1t. He says:
If owe 81 coo on o mortgage written
payable In lawful money of the United
States and should n free coinage act pass
! and the bullion price of silver remain as 1t
is-5S cents-(meaning So cents worth in u
dollarD could not purchase $3.50 worth Of
! bullion, have 1t coined free and pay for my
mortgage with II? Ii SO, would not be
the gainev to the extent of the dlfTerence2
, If so, would it not inure 70 the disadyGn-
| tage ST the borrower In tina. the mortgagee
will demand payment of all mortgages
possible before such . law should raSsf"
There are two kinds Of mortgages. In
these days most contracts read that pay
I,onts shall lie made in gold. Such mort
cages would h:tv, tn be paid upon gold
basis, and that would mean, under a free
silver act two silver dollars in place of
one. Whether the mortgagec would de-
mand Immediate payment Is a question
which he alone would have to decide If
| n mortgage reads lawful money" then
of course the borrower would be able to
pay IN SO cent dollars, and thus cheat the
| lender most royalty. The theory of the
free silver men is that the farmer WHO has
given II mortgage payable III lawful
money will be able to pay 1t of with
cheap dollar.
questions in turn.
Have you a wife and family, and, IL 50,
do you hold a life insurance policy for
| their benefit? You have been paving as
! sesSments on this policy in dollars worth
100 cents. How are you coming out under
free silver? complete answer is given
10 this question by Colonel Jacob L.
GrocEs, who is the president of a life in
surance company, which Is the largest
moneyed institution IN all New England
There are no Stockholders in this COM
parry over which Colonel Grconc pres.des.
1t is purely Inutua! concern. There are
81. go policies outstanding. This means
that 65, coo different men aud women have
placed their money in that institution and
are Individually Interested in its business.
Colone, Greene says that his corporation
has never touched political questions, no-
would il do 70 now unless that political
! action were directed to issues involving
! the yery life blood and substance Of that
which bis company has undertaken to do
In behalf of families and estates He re-
fers to the Chicago convention Of the
Democratic party and its free silver plat
form and he says, addressing the policy
! holders
should this party 50 leti como TO power
upon this platform the government dues,
Instead of being paid. as now, in gold at
| 100 cents, or II paper, which 1t now re-
| deems viii, such gold and never with sill
yer. would be paid in silver, or in paper
redeemed In silver, which silver wo could
use In trade at only its bullion value OF 52
cents on the dollar. The greenbacks being
then redeemed In o. cent dollars, the gov
ernment bonds and their interest being
paid In 81 cent dollars, our national bank
J currency which rests on government
| bonds, redecmable in 50 cent greenbacSs
. aud the gold gone from domestic circula-
, ton into international trade. we shall be
! on the single 80 cent silver dollar basis
| One hundred cent gold dollars do not
swap even for 50 cent dollars of silver,
iron or copper. Fifty-two cents worth of
! anything can never buy more than 81
| cents worth of anything else Then the
purchasing power Of your policies will be
cut in two
Colonel Greene quotes history 10 show
| that under free silver there would be q
steady decline in the price OF silver. He
| adds
/ should We come upon silver basis
! your policies would for the present be paid
in dollars worth 20 your families only
about fifty cents. and the great bulk Of
them would probably be paid in dollars
worth no. more than from twenty-five TO
! thirt~-five cents. II IS, therefore, our tuty
70 warn You that by so much aS it was
| your duty to make this provision for the
protection of your families by 50 much is
it your present duty to see, SO far as your
action can prevent il. that no part of that
provision is lost to them by being paid In
dollars which arc worth anything less
than the 100 ccuts in which you have been
paying your premiums.
Here Is very clear statement directed
20 thousands of policy holders, telling
| them that under free silver the noney
which they have paid In would decrease in
value, and that while they have Paid dol
lars worth loo cents they would receive
dollars worth 20 cents or less.
Are Won = member Of = building and
loan association: Are you connected with
a benevolent fratcrnal Cr insurance ardcri
DO you ho,,. fire insurance pnlicy o.
your house: II 20, the Stn'emcat of Col
oncI Greene concerning lie insurance 1!
a.l,ptah!e 10 the$c cases.
In those days ct Foruii,;ia we hea- /,
greet ,.e;,i about cre,.itor a,.i debtor
c,,,ss.:. jhf'rc UrC II S'ich etnS,.c-. Sc,riJ
eve-y 1nan in tins rn;,cl s't,:Sss owe:
nancy. Therefore, aii lu,'n nrc debtors
Iol; nave .,ivrn "a Mortgage for y, 800 Or
the ether hand. arH -nu r"' creditor &
u certain exert: iiiVe yo'i rot ,>1t :. few
hundred dollars deposited IN II savings
bankf II so, undor free silver what vii
your deposits bs WORTH Ii sil the de
poSitors in the United States should make
raid upon the savings banks between
the election In November, should Bryan
win, and the Inauguration in March
every savings bank would fail. Then wha
would become of your deposits' Or Il
these depOsitors should allow their none,
to main inS.ead raf ,,eceix,ipcr 100 can