davidaulloa/AmericanStories huggingface dataset:
Arizona republican., 1913-06-21

over the terms of the loans were so arranged that there was no really good reason Gas for instance crop fauure) why he should not live up to his obligations. So Ions as he didn't let his farm run down 4c the heels he was safe. These I.anGsehaften were managed by committee Of man1ge- mcnt made up in part of landowners and in part of paid employees. This committee was responsible to the fen eraI Assembly of all the landowners in the society. As the scheme was first worked out land owner desiring to borrow would place his application before the committee. He was then given bonds of the society hich he took to the nearest bank and sold at as good a price as he could The purchaser Of those bonds looked to the landowner for payments Of Inter ests and principal. The transaction did not differ from q mortgage except that the bonds were streugtheEc1 by the secondary guarantee of the so- ciety which would protect the lender in case Of default of the landowner. Next 1t was decided 70 have the so- cieties collect the interest due on mortgages and to have the society make all payments on the bonds to the bond holders. This severed all connections between the lender and he individual landhOlder. The mort gage bond was not different from any other bond. IL was the security of a nrst-Class land company with high financial standing. The society was known widely and wherever it was known the bond was saIeable.
 
 tho bond yEroc c44Cy1 erilt- ed urpI investment Git was made legal to in vest trust funds In such bonds) they naturally sold at an exceedingly low rate of interest. The Landschaften generally charged borrowing land owners from 1-2 to l per cent. more in interest than it was required to pay on it's bonds. This difference served to pay the expenses of the society and to build up a reserve fund.
 The most important advantage 10 agriculture from the organization of these societies. however. was not in the low rate of interest obtained When the farmer had been required to borrow of an individual he could not Gas he cannot today in the United States) get d loan for more than a few vears-say from three to five years. The money which he borrowed would be spent on Improvements to his land, irrigation. draining. or fertiIizing perhaps. With these Improvements the yield per acre of his lands would be increased and he would se- cure an increase in income. But this increase jn income of course could hardly amount to 8 per cent. or 20 per cent. q year. Yet at the end of the three CT Gve years he was expected to pay back the Ioan. IT was inlpos- siblc for him 5o do SO The alterna- tive was to seek a renewal of his loan For this he had .o pay commission This same thine Is happ,uinE every day in the year in the United States The farmers will get a loan at per cent. or ' per cent and consider that they are receiving q low rate of inter est. Then they will renew that loan
Arizona republican., 1913-06-21
NJR1IBURG CERT.LA4Y

Is bonds. Of course as the company pr society would be probably q state wide institution t would be much easier for it to make itself known. But if there are to be forty-eight or more such societies or companies and the state laws regulating each are to be different t will be an impossible task to educate the investor to know them all. Therefore the greater the uni formity of the laws in the rarious states regulating such undertakings the wider will be the market for the bonds and the lower the rates of interest at which they will sell. There does not seem to be any reason why these American mortgage bonds could not command even an international market and admit the American farm CT to the cheap money markets of
 Europe It would be difficult perhaps to create a European market for the mortgage bonds of forty-eight states, The difficulty might be overcome by organizing federal or national land
 mortgage bank. A national land bank could be formed. however. which could purchase the bonds Of such state sOcie- ties or banks as it believed to be safely conducted and issue national mort
 gage bonds based upon the state l. could be placed under strict federal supervision it might find a wide enough margin between the interest rates of the state bonds and the rates at which 1t could dispose of it's own bonds in the international market to- make the investment worth while. Of course in none of these undertakings will there ever be q very attractive profit. The farmers societies will be operated without any attempt to make. a profit and the state banks would
 be kept down to narrow margin by competition and legal restrictions.
 But considering the benefit in the way of building up American agri- culture that would result, the added impetus to rural development, such undertakings would indirectly be a source of great profit to all bankers and to the country at large.
 Evidently there Is this point to be guarded against. The system must not be used as a lure to farmers to borrow. It will have to be assured that the farmer cannot borrow with out intending to build up his land. But if this point is considered there is no doubt but that such a system as the American Commission has seen in operation in Germany would be of benefit to the farmers, It would make it profitable to place un- der cultivation the vast areas of un- used land throughout the country which only need development to make them as profitable as any other farm land. IL would enable the farmers throughout the country to adopt in tensive cultivation in the way in which it should be adopted in this country, through the use of scientific methods and improved machinery It would he a supplement to the great work of the Department of AgEicul- ture and the state agricultural institu- tions that would bring the knowledge. which they have at such great ex- pense spread among the farmers, to practical fruition.
Arizona republican., 1913-06-21

one farm gave out they could move west and take up another. What money they did need to borrow was so Insignificant that il didn't make any great difference whether they bor- rowed on an oId-fashi0ned mortgage and paid old fashioned rates of inter est or not. So the mortgage question didn't keep anyone up nights in Amer, ica
 All these things were in the olden days and are only by way of preface What is the situation today?
 Alas. things have changed. The American farmers have gone west until the sea has stopped them. They have even to some extent migrated east on a return trip. Some of them have taken chance on Canada. Others have given up farming and gone into the cities. All this means that the American farmer today is in the position that the German farmer was in 14O years ago. He has gotten to the point where he must get every grain Of wheat, every potato off every acre he owns that can possibly be pro- duced. If a better method is discov- cred for fertiljzing his fields, t is now good business for the farmer to spend the money thatthe new fertilizer costs He cant go to a new farm now. At least he cant get a good one for noth- ing as he was able to do before. Land now costs money and it is worth while to care for it, to develop t. to get everything out Of 1t that can by any means be gotten.
 The statement that the American farmer today is where the German farmer was 14O years ago is not to be taken too literally. Rural conditions in the two countries are decidedly diff ferent-in fact they are not cOmpar- able. But the important point is true that the American farmer today has come to the place where he must in vest money in his land and practice in tensive cultivation.
 There are two sorts of intensive cul- tivaton. The one is practiced in Flu rope as it is in Japan. It will never be practiced, al least during our life time, in the United States. That sort of intensive cultivation is the one which places a whole family or even two families upon an acre of ground and requires them to find a livelihood out of the products of that acre. In such farming human labor counts for little. What would an American farm CT think of the practice, commonly followed in France, of sending farm hands over field to squirt liquid fer tilizer out of watering pots Or of a blow made of boards joined to- gether and with nails protruding from the under side. Such a blow, drawn by oxen with the farmer riding upon it to bear it down, may be seen on the fields about Bordeau where the best wines of the world are produced. The other sort of intensive cultivation Is that which requires big farms rather than small and depends upon the use of the most perfect types of farm machinery. That is the in tcnsive cultivation which the American farmer can proftabIy adopt.
 But in either case the fields must be properly prepared. drained and fer tilized. and these things cost money.
Arizona republican., 1913-06-21

both solved this problem. In place of the society O.. borrowing farmers they
 have organized land banks operating on q cash capital. Th-s is the way such q banl, might work in one of the states. A ba. is formed with cap
 ital of a million dollars. Ey law it .s given the right to issue mortgage bonds up to fifteen times the amount If it's capital. That is t can receive
 fifteen millions of dollars worth of
 mortgages and issue mortgage bonds 10 a similar amount. The bank is re- sponsihle for the payments both as to interest and principal of the farmers. The bond holders have nothing to do with the farmers. They buy their
 bonds upon the strength If the com
 pany's name. Such a company would be
 remarkably successful provided the
 Government supervision over their
 transactions is adequate. Some years
 ago the mortgage company wa pop
 ular institution in the United States,
 but because of lack of supervision they ran amuck and ruin was the result. In the first place the government must
 see to Il that the companies do not, as they did before. mortgage farms up to the htIt. A safe maximum should
 be set, say 50 per cent of the
 value of the farm. and beyond that figure no mortgage should be granted. No second mortgage should ever be accepted by such a company either as an original transaction or in lieu of interest payments. The system of appraisal must be laid down upon safe and very conservative lines. Every mortgage accepted should be registered In some public office and every bonI issue the same and the
 bond issue should never exceed the mortgages accepted. In Germany the transac ctions of such banks are subject to the most stringent gov ernment supervision. an agent of the government being present at all of the meetings of the boards of directors and all of the records of the company being easily accessible. The sorts of property upon which loans can be granted should be specified. When ever a loan Is made 10 landowner tt| should be shown that it is intended to eXpend 1t upon some productive en- terprise some worthy improvement. It should be made as easy as possible for q farmer to borrow when he wants to strengthen his position and as hard as possible when he shows a tendency simply to run into debt.
 Undoubtedly the creation of such system in the United States would re quire changes in the present mort gage laws in some of the states. Since the farmers would be relieved of the necessity of paying their loans back in a lump sum a the end of a few years that would hardly work q hardship upon them. The great value of such banks or of the societies above mentioned is that they broaden the field of sale of a farmers security. The farmer can only borrow from some one who knows him 1T who at least is in a position to judge of the value of his security. The same is true of the com pany Only as it is known to be de- pendable and strong and honestly con ducted can It find ready market fer
Arizona republican., 1913-06-21
MARKET PLACE

from two to five times and pay 2 t9 2 per cent. in commissions each time And if the loan falls due at time when money is tight he will have to pay q higher rate of Inter st.
 He is always 10 2 great extent in danger of foreclosure.
 All of these evils the German sys- tenn has completely wiped out. The reason why the individual lender will not grant loan for more than q few wears i5 that he cant tell what use he may have for his money in the future.
 He can't reasonably be expected to tie it up for half lifetime. But the minute the individual Is replaced by the corporate organization. the minute the organization does the borrowing and the lending in place of the iudi- HIdual. there absolutely disapq ears all need whatever of restricting the life of loan. The organization Is in the business for all time. The death of an individual cant effect II. IL doesn't matter to the corporate organization whether the farmer takes three years or fifty years to pay back his loan. So in Germany they have arranged mat ters so that q farmer may pay back his mortgage just as he receives the profit on the investment of the bor- rowcd money from his land. He need pay no commissions. There !s no dan ger of foreclosure. All that he has to do is to spend the money on improve ments to his land as he promised to 10 when he was given the money and the society will give him his own time in which to pay back the loan. Mort gage loans in Germany run for twenty five fifty. even scVenty-tiVe years. A father may borrow and son pay 1t back. If the farmer, however. has streak of good fortune and doesn't want the loan to run for so many years, during all which time he of course has to pay interest. he may go into the open market buy up so many hundreds of dollars worth of the mort a3Ee bonds and turn them in at par to the society which will cancel q corresponding amount of his loan. If ever the bonds of the society drop below par. the farmers can buy these bonds and make $1O0 for $95 or what ever below par the bonds may be sell ing at.
 The American Commission on Agri- cultural Co-operation Is studying this system with a view to determining it's adaptability in the United States. It would be an immense undertaking. 1 The first question here that presents itself is this. Only a comparatively small percentage of American farm CTS at the present time have their , farms mortgaSed. Those that have no incumbrances and who do not con 1 slider that they need them for the pres ent could hardly be expected to join l such a society. The society must nec- cssarily be q society of borrowing ! farmers. It Is extremely doubtful if one could find many communities of borrowing farmers in the United ' States. How then are these so- cicties to be formed or at least how are the farmers to be cared for in { communities where there are few bor- roWers?
 The Gerx-ans and the French have i
Arizona republican., 1913-06-21

low American I Farmers Can Borrow On Their Mortgages As Cheaply As Railroads Or I1unici- palities an The Mortgage Banking Systems of Eu- rope and What Such Systems in the United States Would Mean To American Farmers and Consumers.
Arizona republican., 1913-06-21

To return to the other side of the mill pond. the American farmers were getting along very well without any mortgages They didn't need to fer tIlize land that had never been culti- vated before. and 1t was not profitable To spend money to get q higher yield of wheat or corn per acre when more land could be had for a song. When
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
Hiah Cost of Balkan War.

A correspondent of the Corriere del
la Sera, now in Macedonia, who has
visited all the chief centers Of the
Balkan war, has sent to the newspa-
per he represents an approximate
table OF the losses in men and money
up to the present of the combatant
nations. For the first war his esti-
mate is as follows:
Bulgaria-35o,0oo soldiers modified:
10000 dead; $soo.ooo.ooo.
servia-25o.ooo soldiers; 10000 dead;
$3.50. 100000.
Greece-150, 900 soldiers: 10000 dead;
$7o,ooo,ooo.
Montenegro-30,o 1000 soldiers; 5000
dead; 100000.
Turkey 100000 soldiers; 100000
dead: $4O0,000.000.
For the second war his figures are:
Bulgaria-6o.ooo dead; s1so.ooo.ooO
servia-40.oo0; $1oo.ooo,0oo.
Greece-$so,ooo; $5o.ooo.ooo.
When the number of persons mas
sacred and the victims Of the cholers
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
GREAT IRISH PILGRIM
AGE TO LOURDES
Cardinal Losue to Lead Pilgrims in
Person.

The first National Irish Pigrimage
to Lourdes which starts next month
will be of noble proportions. Some
$500 persons have booked from all
parts of Ireland and four special
trains will be needed to convey them
from Paris to Lourdes, while special
steamer is being chartered from Ros-
clare to Fishguard. Cardinal Logue
will lead the pilgrimage in person, &C.
conpanied by several Of the Irish
Bishops and hundreds OF priests In
addition to those who, with their sick
are actually visiting the famous shrine,
100000 associates have been enrolled
and have made offerings to assist the
INDECENT sick, while 100000 children
are also af1liated to the pilgrimage.
The pilgrims will be accompanied by
the famous Artane band, which will
play at the head Of the long process
sion during their stay in Lourdes and
their spiritual exercises at the basilica
and grotto.
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06

Colorado and Washington have add
ed their names to the list OF states
which have contributed stone tablets
to the Washington monument, al
tributes to the memory of the first
president Of the United States. When
these two stones are placed in posi-.
ton, all but five states In the union
will he represented in the walls. Col.
orado made application some Tins
ago for permission to place stone
from that state in the monument, as
did Washington. Both stones are
now in the process of preparation.
The Washington Monument Society
is working to have the states that
are not yet represented by tablets
within the monument to send their
stones. The Ave states not repre-.
scented are Idaho, Oklahoma, Texas.
Arizona and New Mexico. 1t is
thought they will fall into line before
long.
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
added Mr.. Henin.

added Mr.. Hef1in.
when the good women Of the land
are calling upon certain state legis-
latures and municipal authorities to
provide pains and penalties for wom-
en- who appear on the streets or in
public places in 'immodest and indie
cent ATTIRE we are confronted with
condition that should seriously con-
Germ US ala condition that the good
women of the country are not tamely
tolerating.
Thank God the good mothers have
begun crusade against this evil.
Millions of our women need nothing
but their innate modesty and inbred
sense Of propriety to tell them what
to wear and what not to wear. To
this class of women, the home, the
state, and the nation must look for
their strength and inspiration in all
the years to come.
The woman who instills in her
daughter the principles of gentleness
and modesty, and trains her up in
the way that she should go, has done
more for her day and generation than
she can ever hope to do by active par.
ticipation in politics"
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
PRARATE NOTICE

STATE ptr MINNEEuc1N W AS s1G,,>,n
HENNEPIN. IN PROBATE CouRT.
In the matter of the estate Of Gilbert
=. Grant, Deceased.
NJ, on reading. and filing the petition of
Walter H. Hennessey. administrator Of
the estate Of said deceased, praying that
license be to him granted to sell certain
OF the real estate Of which said deceased
died seized. and 1t appearing by said peti-
ton that there Is not sufficient personal
estate In the hands Of said administrators
to pay the debts outstanding against The
deceased. and that it Is necessary IN order
to pay such debts. and would be for the
benefit of said estate to sell the said real
estate In said petition described.
1t is Therefore Ordered. That all per-
sons interested In said estate appear be-
fore the said Probate Court at a special
term thereof to be held on Monday, the
29tf day of September. A. D. 1918, at
ten o'clock in the forenoon at the Court
House, in the City of Minneapolis, in
said County, then and there to show
cause df any there bel why license should
not be granted to said administrator to
sell said real estate. according to the
prayer of said petition.
And 1t 10 Further Ordered. That notice
Of such hearing be given to all persons
this order once in each week fol. three
successive weeks. prior to said day Of
herring, in the Irish Standard. a news
paper printed and published In said
County.
Dated at Minneapolis, this 4th day Of
September. 1913. y
BY the Court:
JOHN A. DAHL,
Judge of the Probate Court.
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
Catholic Students Convention.

The convention the Association
of Catholic Students Societies OF
America will be held in Iowa City OIL
November 10, IA and is, and plans
for. the entertainment Of delegates
have already been outlined by the
committees. The convention will be
entertained by the Newman and c.
F. U. societies. DETERMINATIONS of
Catholic students in the University
of Iowa.
Business sessions q will be held the
first two days Of the: convention, from
9 to IL and from to 5, and on the
morning Of the last day. Social
events are planned as follows:
Thursday evening, Nov. 13-Ban-
quet and reception. -,s-; -,.n..
Friday evening, Nov. v14-Dance at
Company Armory.
Saturday afternoon, Nov. 15.-Tour
Of university buildings. and attend
Ames-Iowa game.
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06

The United Spanish War Veterans,
who will have their annual convention
in Buffalo, N. Y, September to 6,
will consider the raising Of large
fund for the erection OF Temple of
Patriotism in Washington, to be used
for the meetings of all patriotic So
cieties. The matter OF asking the
government to purchase Mount Yer
non and throw it open to the public
also will be discussed.
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
JOHN A. DAHL,
Judge Of the Probate Court.
PROBATE NOTICE.

STATE OF MINNEsoTA. COUNTY. OF
HENNEPIN IN PROBATE COURT.
In the Matter Of the Estate Of Simon
O'Malley. Decedent
On receiving and Ming the final account
Of the administrator Of the estate and
his petition praying for the allowance Of
said account and for decree assigning
the residue of said estate to the persons
by law entitled to the same.
It 10 ordered. That all persons inter-
ested in said estate appear. before said
Probate Court on Monday, the 2sth day
of September. 1918. at ten o'clock In the
forenoon. at the Probate Court in the
Court House at Minneapolis in said
County, then and there to show cause,
II any there be. why said account should
not be allowed and said estate should not
be distributed as prayed for in said pc
tition. Hftl.
And It is further ordered. That notice
Of such hearing be given BY publishing
this order once in each week for. three
successive weeks, prior to said day Of
hearing in the Irish Standard, nSwspa-
per printed and published in said County,
and by mailing q copy Of this order 10 all
the heirs-at-law of said decedent when
their address IL known or can be ascer-
tanned by due diligence, at least fourteen
I4) days before the date Of said hearing.
unless notice 10 waived. MA.
s. DateS At 1Ma,,1.neaDolis. this 9Th day g
By the c SSsx . -.
C.. A. GALLAGHER, -
Attorney for Petitioner. g
Minneapolis. Milan. u
The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1913-09-06
New Church at Rinasend.

The dedication Of the first section
Of the new church Of st. Patrick, at
Ringsend, Ireland, took place last
month. 1t was at Ringsend that St.
Patrick landed when he converted the
Ard Ri of Dublin. This church Is I'M
der the pastorate Of Father Mooney;
the congregation and community are
very poor. The Archbishop at the
dedication said that Father Mooney
was zone OF the most successful
churchIbuilders of his time"