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From The Poeple

From The Poeple image
Parent Issue
Day
9
Month
September
Year
1891
Copyright
Public Domain
OCR Text

Kil. Oourier:- Some time eince I noticed in tiUe democratie papers i st;i K'iiK'iu mode by one Simpson, an accidental alïiance Kansas cemgvessmun. I believe, that there were 9,000,000 mortgagea against the farms and farm twmscs in the Dnited States, representlng billiorte upön blllions ol loltars. Was nol the mmrber given greatly eiaggerated? A One last censas ti. ik an accounting of the mortgages oí tiiv country, perhaps yon can. Mr. Editor, tln-Diiiíli the columns of th' Courier, enlighten the people upon tliis subject a little. FARMER. In answer to the above we would say that the census mortgago statistics prove Jlr. Simpson and his band of calamity lollowers, prreat falsIfiers. All oi the mortg-ages on homes ftnd iarms, both city and country, number oly 2,250,000 in the Whole United States. Tlie total amount of mwtgage indebtedndss in the Dnited States is-two billion five hundred and sixty-iive inülion, which is about onetliird of the value of the property cumbered. The census aso discloses the tact tliat nbout two-thirds of the total mortgage Indebtedness representa purchase money. Tliat is, a young man in the city or country has started out lor himself, and not having eufficieni to lnuy hinj a home or farm. has purchased onv and given a mortgage back to cover the indebtedness. How many such Instances each ouc of us can recall 11 wc try.

Article

Subjects
Old News
Ann Arbor Courier