Bryan daily eagle and pilot. [volume] (Bryan, Tex.) 1909-1918, 1915-04-08
RURAL CREDITS AND THE
HOMESTEAD LAW.

The homesteads Of Texas are pro
tected from mortgage and the attend.
ant train OF evils that follow in the
wake Of mortgages by what is known
as the Homestead Law" No man
in Texas can mortgage his home un'
less he owns above 200 acres of land,
and then only the excess above the
homestead right Of 200 acres.
The Eagle hopes this law will never
be altered or repealed. Men are too
prone 10 80 In debt and II our laws
we're changed so a man could borrow
money by mortgaglng his home, the
tenant class In Texas would be
doubled In FIVE years.
objection to the homestead law Is
being urged on the ground that It
stands in the way OF Texas farmers
receiving any benefit from any rural
credits measure that Congress may
enact. Then our position is, let It
stand in the way. II is far better for
a farmer to do without the benefits
Of rural credits legislation than for
him to lose his home. The Galveston
News says the homestead law pre-
sumes the owner OF a home to be an
incompetent We do not think so.
but the News should remember that
borrowed money is easy money, and
especially on long time and at a low
rate OF interest.
The discussion OF the matter by the
News was brought out by a CORE
spondence between Senator Culber.
son OF Texas and Senator Hollis Of
New Hampshire on the subject Of
rural credits, in which Senator Hollis
referred to the Texas homestead law
as bar TO Texas farmers praitcipat-
ing in the benefits OF rural credits
legislation. The News says:
Most men who have given any
thought TO the matter must have
known an this before Senator Hollis
testified 10 Il. Nevertheless. there Is
some advantage in having the fact
emphasized in this way. And the en-
phasis comes rather opportunity; for
one unmindful OF the impediments
put in the way by our homestead law
must have inferred from the clamor
certain Texas Congressman have
raised that nothing but the indiffer-
ence OF Congress stood between the
farmers OF Texas and the realization
Of the large benefits a rural credits
law is expected to yield. The fact is.
Of course, that so long as our home
stead law remains unchanged Texas
can expect but a very meagre share
in the benefits which may accrue
from the enactment OF a rural credits
law. The man owning more than 200
acres might find It serviceable. but
such a man can already find such
To what extent a rural credits law
would facilitate the efforts OF men
who are trying to buy farms would
depend on the character Of the de-
tailed provisions of the bill The
salient fact Is that between a great
majority of the farmers of Texas and
those benefits which a rural credits
act is expected to confer stands the
barrier of our homestead law. Not
merely an act of Congress, but one
by the people of Texas as well, will
have to be recorded before the mass
Of Texas farmers can enjoy the bene-
fits OF a rural credits system Hence
those who have become so provoked
by the failure of Congress to act, and
who have charged it with indifference
because II would not be hasty, might
well moderate their indignation and
wait until the people Of Texas have
shown some disposition to act before
denouncing the failure Of Congress to
act The Texas homestead law as.
sumes the owner of a homestead to
be incompetent and makes him its
ward No law that Congress will pass
will deal with an incompetent. Those
Texas statesmen who are so vexed
by the deliberation Of Congress might
give vent to their Impotence by ad.
vocating the removal of those dis
abilities which would render most
Texas farmers incapable Of sharing
in the benefits Of any rural credit law
that may be passed"