BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-02-04
EDITORIAL.


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me Il Iiefhdy. = siiil repeated -
the publp'- of5ces - sS 20 make ihosc
withsTsw who csasider the ie~n -
iadispens able sad only recourse far
or 'vftion
This a. gumeEi. Sc immoral and ..
iensi {. II the one which We have
again 10 tight in consequence Of lis
emphatic repetition. and because here
is attributed L. II . supernatural virtue
of making the whole people believe
that their suicide is luSthable.
Th creditor finds himself today in
condiuon 10 execute his credits and
thus become the owner ( lac plsnta-
tions. the territorial proprietor. in4S
much as our farmers are unable 10
pay lhc:r debts.
If, then, II should result as is stated
with remarkable inexactitude by those
who mAliciously oppose the loan
that the mortgages are in the hands OF
foreigners, then we must agree that
these foreigners have, while the loan
is not effected. favorable and pro
pitious occasion for converting them :
selves into owners Of the land.
And this, within the most selfish
calculations, is what would have to be
averted as it seems that an opinion
has openly gained ground that the
foreigners ought not TO b. the owners
of our rural wealth.
Is it them desired that they should be
Americans? The loan which places
the deb,or in a position to pay or
arrange his accounts with the foreign
creditor. saves the lands from being
executed by these outsiders, and places
them in the hands Of another creditor
which may be an insular bank and
finally the same Treasurer of Porto
Rico.
1t has already been seen that this
creditor who we shall continue to call
foreigner, would rather to have his
credits satisfied than to become
owner of lands which are guaranteed
by mortgages.
Several year have passed since the
expiration Of the time of the mortga
ges but the executions have been rare
and exceptional.
The merchants and capitalist
whether Spanish or insular have
clearly demonstrated that the invest
nent of their money in mortgages was
done simply 10 secure interest on their
money.
This fact is a peculiarly of the
nortxagee in this island; 1t is not
aEphe onenon; it is a natural fact
which responds to the economic organ
ization of universal society and TO the
NEST elementary principles OF the
exchange of work and PRODUCTS.
The merchan, is not and cannot be
ordinarily. and at the same time,
farmer and merchant. Economic func.
items are divided socially. and they
cannot be assumed by one man or
one group of men, in separation from
the rest. for then the exchange would
not exist and life would be i'm possible
or we would return TO prlmlti>e
existence or 10 such an expensive
one that only few men could afford
to live on this extensive planet
II need not be feared therefore that
he who has until now become by hab
it, convenience or necessity a merch-
ant, will leave the place which he has
held through his efforts and by which
he fills the necessities Of his life and
family, in order 70 ta ke from the far
mer what he has conquered, Wrestling
from him what is unknown to him
the merchant.
The mortgage loans that burden
principally the coffee plantations were
not contracted with the purpose of &C
curing and exploiting the property.
1t cannot even be presumed that
the morgagee is making an effort to
convert himself into an agricultural