Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1896-08-27

That Would BE One of the Natural Re-
suits of q Free Silver vietory-CouId
the Farmers Fairly Blame the Lenders
for Desiring to Recover Their Loaned
Money In One Hundred Cent Dollars
Before Impending Legislation Would
Change the Order of Thingsp
1t is assumed by the supporters Of Bryan
and his policy in the agricultural states
where his followers abound that the
farmers, and especially those who have
mortgaged their property, would surely be
benefited II Bryan should be elected and
the SO cent dollar substituted for the 100
cent dollar. The purpose of the silverites,
1t is admitted, is TO compel all depositors
in savings banks, all holders Of life insur-
ance policies, all pensioners, and all others
who have invested savings by loaning
them directly or indirectly to suffer loss
of about half of every dollar which they
own upon the plea that these dollars have
value twice as great as they ought to
have. 1t is assumed, however, that the
farmer will not lose, but will gain.
The farmers who follow Bryan have been
deceived. While it is probable that those
who would suffer the most severely are
the workingmen, the farmers would stand
very near them on any scale that should
measure the misery OF the people.
Undoubtedly the election of Bryan
would be followed by panic. This Is ad-
mitted by the silverites themselves. There
would be destruction OF confidence and
paralysis Of credit. Would not this affect
the farmer? Can the farmers isolate them
selves and escape the effect of depression
that is and must be felt by all other classes,
spectators possibly excepted7 Even II
Bryan should be elected, at least eight
months would elapse before the silver
standard could be adopted by legislation.
The panic which would follow his election
would depress the prices offarm products;
the paralysis of credit would deprive the
grain grower of the sustaining power which
carries" his crops after they have been
harvested and facilitates an advantageous
distribution Of them throughout the year
The demand for these crops In the home
market would fall of, owing to the condi
ton Of the workingmen.
What would be the experience of those
farmers who have borrowed money and
given mortgages on their holdings, many
of whom hope to be enabled to pay off
those mortgages at SO cents on the dollar,
perhaps overlooking the fact that they are
conspiring TO rob the widow and the or
phan? According to the government re-
ports, the average life of u mortgage In
----------------.--. f--...-r.rerarA-i
four and one-half years Il Ia now stated
by western men who appear to be familiar
with the farm mortgage business that
majority of the farm mortgages In force
are due that is to say, that the terms of
them have expired and that they continue
in existence because the lenders are salts
fed with the interest received.
Would these lenders holding mortgages
overdue, take NJ action If Bryan should
be elected? Does not the western farmer
see that they would demand payment and
that they would foreclose IL payment
should not be madet Would not the cleo
ton Of Bryan be followed by a general re-
sort to foreclosure proceedings on the part
of mortgage holders who could legally
take such course? Would even the offer
of a renewal Of mortgage upon terms
binding the farmer to pay In gold prevent
the lender from undcrtak king to reclaim
his money! The Bryan platform calls for
legislation which shall prevent the max
ing of sueh agreements. Could the farm
ers fairly blame the lenders for desiring to
recover their loaned money in 100 cent dol
lars before proposed and impending legis-
lation should compel them to be satisfied
with So cent dollars?
What would lie the effect upon the farm
ers, whether silyerites or advocates Of
honest money, of the Inevitable panic con-
ditions and this foreclosure moyementP
And II the silver standard should be adop-
ted by legislation eight months or IA year
after the election of Bryan does the farmer
think he could then borrow more money
without great difficulty Does he think,
on the whole that tho ARriculturists of
the United States caL gain anything by a
policy OF robbery and repudiation, which
would make us detestable the world overt
There are many farmers-a great many,
we believe-who see clearly how great
would be the injury inflicted upon our
agrlculturists by the election OF Bryan.
These should strive to enlighten those till
ers Of the soil who have been misled by
hired agents Of the mine owners and other
demapo4ues- York Times.