The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-01-06
STILL AN ISSUE.
The Problem More serious
Than i;scr-Hig shrinknEe In
Real Estnte Values.

ms views on The political prospect. Ills
reply was, that so far as the democrat
&c party is concerned, the outlook is
most hopeful. The recent war only
temporarily obscured the real issues
before the people. In the very nature
OF things the financial question cannot
be kept down so long as producers and
property owners find themselves handi-
capped by abnorma,ly low values. Gov.
Tyler says he asked one OF the richest
men in Washington as to the status OF
his property. The reply OF the gentle
man was that if he desired to dispose
Of il it would be impossible to realize
20 per cent. Of its real value.
Now, if this state Of Things existed
only in Washington city. il could be
explained by some fact special and not
general, hut as the experience of the
Washington property owner is com
mon 10 property owners everywhere in
the country outside OF the great fnan-
ciai ccnters. ii can be explained only as
the result Of some general and ire
sistible influence. Two years ago. prop
erty owners had hardly begun to pay
their tribute to the gold standard.
The prices OF agricultural and indus
trial products had fallen. but real es-
tate seemed to be holding its own In
consequence, some of the largest OWN
crs of real estate. If not all, sympa-
thized with the ''sound money" argu-
ments made in behalf of the gold
standard.
In Atlanta. two or three Of the larg-
est owners OF real estate. and gentle
men 81 unquestioncd ability. made
themselves conspicuous as the cham
pions of the gold standard. The effects
CT that standard mad rot at that time
been seriously felt on their property.
We do not know whether their views
have been changed or even modified.
but we 90 know that the value Of their
property has been more than modified.
1t has been seriously reduced. As in
Washington city. so in Atlanta. and rs
in Atlanta, so in every other town and
city. especially in towns remote from
the financial centers. The situation
then is a very real one. 4 gentleman of
Il acquaintance had $4,000 three
years ago which he did not need in his
regular business. Half of tl.if he de-
posted in bank and the other half he
Invested in real estate. which, under
ordinary circumstances, babe fair to
double in valIe. To-day he car take
his $1,000 from :he bank, il he hasn't
spent il in taxes. and buy three times as
much real estate as he bought with the
same sum n few years ago lie can
probably realize $4,000 on the invest
merit he made when he divided his s2O.-
0cO.
Now, in making this illustration. W.
have Intentionally placed the figures
given far within the facts. Any prop
erty owner who is willing to talk about
his affairs can give more powerful and
summary instances of the awful shrink
eye that has taken place under what
one Of them recently called the
changed financial situation Though
or illustration has not been made as
strong as it actually is in fact. it con-
stitutcs a real object lesson. Any prop
erty owner. as we say. car give q more
signal instance of depression, md. con
soquently, il is folly TO say that the
financial question has found a settle
mcnt.
Do the property owners in cities and
towns propose TO sit down and fold
their hands over the loss Of more than
half Of their investments, and calmly
ascribe II 10 "thc changed financial con-
ditions?" Or viii they Join with others
whose interests have been sacrificed.
md endeavor to remedy the matter by
reversing the financial conditions? If
.hey propose 10 sit down with folded
hands and submit to the loss of half
their property. or. Micawber-iike. wait
for something TO turn up, e course
there is nothing more to bc said. so far
az they are concerned-save this. that
Mr.. Micawbcr won no renown as a sue
cessful business man.
In any event. there will be many
property owners who will not rest quiz
city under the conditions which have
brought about this spoliation of their
investments. and we may expect that
they will join hands with other suiSr-
crs in an effort 10 restore their prop
,~ty TO its normal value. We shall find
among them many sincere and cncr-
cetic recruits 10 the doctrine Of bimet-
allism.
Meanwhile. the gold party continues
TO fill the air with promises and pledges.
while the process they favor is enrich
ing the few at the expense OF the
many. They have hitherto sa:rked all
opportunities to fulfill their promises
and pledges. but now they have clear
maiorities in both houses OF congress,
and an exceedingly sympathetic man
in the white house. They must now
either lay their celebrated reform egg
or get or the nest.
There arc. no doubt. many property
owners who believe that the sort ofcur-
rency reform which the gold party IA
vors will give them relief. will restore
prosperity and fetch the value Of their
real estate 10 Us normal. We cannot
blame them for entertaining such n
hope: but we are unable TO see the
ground az ii. We have been hearing n
great deal or talk from the gold party
~ n sort and another; for n long