The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-11

lives IN an Illinois town u ~
pie and who for business rss.
wish his name made public b
II do not believe In the " 4.
he said. as we sat down = e
cafe. On
You are an exception "a ~: /.
remarked. and no proceeded. a
My class. as rule, hava "a,
sighted on the subject. II
ural for onc's opinion to u ~ !.
apparently his interest--and q
temporarily. at least, 1t Il a u .
Of the banker to enhance tbs s.s.'
money and securities. When " 50
money and his money due Mn NJ
ties were rising in exchaneesb,s y
other property, 1t was but n,t,..s !.
to fall in with the cry OF .sov,s !
Just as 1t would be natural for 4. !
to defy wheat should It rise |, S.a
tinuously over long period. ~ .
all kinds OF excuses for iust,(
priced wheat"
But" ! broke in, your -,
that money is cheap" Nv
"A low interest you mean. .
THAT is the hiring value 81 n...s'
exchangeable value of money i I e
ferent thing
Pausing for a moment. y
The rise of money with 4 rsr.1 ;
prices weakens. II 1t does not SiI1
ability of our customers u
loans. and instead of the bank S,i|
money back 1t is compelled L n
security after paying out cash 4 p
foreclosure proceedings. It az
our surplus money lying idla
section you can not set 1 Nh
estate. as there are few or no ~
for debt. When piece Of nj "a
thrown on the market there ~
no one willing to buy 1t at sayI1H
what we would call its fair VAIN
creditor must, as rule, tAks Il 7
the general fall of prices, un(ye
due to the gold standard, will III
catch the country banker"
why not the city bankep!sl =
THAT depends on what you III
banker" he said. That you "
derstand what I mean will diyia
ers into three classes. One i'm
who loans on bonds secured w
In this class are the Rothschilds III
tied number OF money Lenders iati
The second class are those W
corporation bonds. The third e
those who loan on the mortEage1T
and personal security Of indivituh
latter, or third class, is what ]
country bankers. While as balh
not loan on real estate mortgasa
is done through their direction "
In the fall Of prizes y
ers of the third class must 70 oeu
In the order of possible insclve1ty
the second class come next, ~
class can only fail by the ovefs1
You mean," said, that ~ !
are practically safe so long =
put the screws to the taxpayanr
replied:
Yes. Their security is thu -
erty OF the municipality, Star
that has issued the bonds. ana g
must be forthcoming by M
amount in the tax levy. the
stands next in order as to the
loans. But the third class.
The country banker, takes, at =
mortgage on improved unincrm
estate. In his case he takes y
iect to taxes, and If the taxes q
by for two or three years y
siderable lien on the propertysS
prior lien to the mortgage. II
80. .rdt
case my bank is the creditor anu
he property, / must pay the tSin
If the legal proceedings ana cVa
,ay the current taxes. l know
instances of this kind where "
ire vacant, thus giving no lnc0l'
urn. And If not vacant there y
between properly q
ent their houses that rents Az
much repairs exacted by tensnu'
charge against the rent rece'pA
II see and comprehend your =
aid. you can not realize q :
rty."
1T means" he went on, tpn
prior lien to our securities. ana
ng prices the bankers Of tbs =
re going to be forced to the
II should say then" renal
our interest lies against the
I'd"
yes" he replied. "and tp'pA
he only banker of the third g.
olIowed Wall street and Lond0'
70 are going to follow them.
lis there any argument" !
ill reach the bankers Of the AZ
NO." he replied. They ere
urely selfish motive will conuy
on. So long as they can ~
in charge Of officials
idding. they will continue g
loney from our people.
4 4
The action OF the democrats
,mmittee Of this state the z
assing a strong resolution inds.
i'd the financial plank q
Iatform, 16 to / and all ~
ito the organization OF tns
late. And the speech o. -. =. ~
anquet In this city on the -
le proposition till it may rs
..,..,cu oo,v with the