Newspaper Page Text
Americus Recorder.
W. t, OUIII|R, Kdttor.
Official Organ of Webster Cenatf.
SATURDAY, ROY. SO. 1984.
SOUTHERN LOANS.
Railroad securities are unirersal.
ly discredited, and capitalist* and
insurance companies are said to be
turning to farm property in tbe
south and west as a substitute.
According to n recent statement
in tbe New York Times, six east,
ern insurance companies bad loan
ed to western farmers up tn Janua
ry 1, 1877, no less than $68,770,-
049. At that time only $3,000
bad been lost on foreclosure sales.
The western experiment was so
satisfactory that tbe capitalists of
the eastern states and of tbe Old
World propose to repeat tbe pro
cess in tbe south. They desire
long loans at 7 or 8 per cent on 40
per cent of the value of tbe pro
perty, not including bnildings.
The interest is made payable an
nually at the New York office. As
tbe best corporate securities do
not yield over five or six per cent,
tbo farm investment are coming
into favor, and tbe chances are
that tbe southern country will
soon bo covered with men who are
looking for farms that are not sup
plied with mortgages.
There may be some good in all
this to the south, because the rate
of the loans to our farmers is very
high, especially it tbe loans take
the form of credit for supplies fur
nished; but still a mortgage is so
relentless in its couree, so difficult
to sbake ofT, it is doubtful whether
any increased facilities for the
loaning of money would be an un-
nixed blessing. Thcro is no mon
ey in farming when it is done on a
credit basis, whether the rate of
interest be high or low, and if our
farmers can get long loans at 7 or
8 per cent there will be a less num
ber who wil 1 by energy or self-de
nial become independent of capital
ists and interest tolls and mort
gage hunters. It is not the far
mer that borrows, but the one that
brings to the task economy and
untiring energy, who becomes
master of his own affairs, and on
easy terms with ail the rest of the
world. Wc look, therefore, with
apprehension on an invasion of
mortgage-takers. Tbe farms of
Georgia should not bo covered
with mortgages as the farms of the
western states were several years
ago. Successive crops of wheat
ou new lands marketed at high
prices after the war, lifted the
western farmers out of trouble;
but tbe soil of Georgia is ucither
new nor rich, and a mortgage once
fastened upon it would stand a
good chance to remain up to the
last day at least named in the con
tract. It is better for us all to
strugglo along even under the cred
it system, than to hand over oar
titles to people who will elscwhoro
spend or invest all tbo clear profits
of our toil. Outside capitalists
now largely own our corporate en
terprises, and if they get their fin
gers on our farms, there will be
little prospeet of that independence
and prosperity we bavo all seen in
tho distaaco and struggled to
wards, hut hare never completely
seized and enjoyed.—Atlanta Con
stitution.
There is much that is sensible
and timely in the above article, and
we fully agree with It in the matter
tiiat it would be better if there was
no necessity for our farmers to
mortgage their lands. Hut wc do
not agree with it that "it is better
for us all to strugglo along even
under tho credit system, than to
hand over our titles to pooplo who
will elsewhere spend or invest all
tho clear profits of our toil,” lor
tho reason that the credit system
takes tho larger portion of the
profits of our toil. There is n vast
deal of difference between paying
fifty per cent, for credit and twelve
per cent, for a loan. In both cases
a mortgage has to bo given, and
when it comes to foreclosing that
mortgage it makes very little dif.
fcrcnce to the farmer whether his
land goes into the hands of a man
at home or abroad.
While we should be glad to sco
our farmers in such condition that
they would not be forced to ask
for credit on any terms, as between
buying supplies on the old credit
system and borrowing money from
an Eastern company, wo should
advise them to make a five year
loan. Our reasons for giving this
advice are as follows:
First. It is cheaper. A long
time loan can be procured at tho
rate of twelve per cent., including
cemmisslons and expenses. The
credit system, as usually practiced,
will cost fifty per cent., nearly as
much for one year aa the loan cosu
for five years, and the difference
will pay the principal.
Second. It gives tbe borrower
a better chance to pay out, as be
has five successive crops to pay
him out, and is not left ,-al the
mercy of a stogie bud year.
Third. His crop ia not mort
gaged and can be disposed of to
tbe best advantage in such market
and at such time os he pleases.
He is for five years, at least, a free
man.
Fourth. There is less liability
of this mortgage being foreclosed
under the long loan than under the
credit system; for the foreign
lender does not want his land, and
if the interest is paid promptly
there is no difficulty in getting the
loan renewed.
Fifth. It is better for the coun
try, better for our merchants and
banks, as it increases the amount
of money in tho country, enables
the farmer to pay his debts and
buy for cash. The experience of
the past summer shows that there
is not enough money in the coun
try to supply the necessary de
mand.
Wc base these reasons upon the
plan adopted by the Georgia Loan
and Trust Company, of this city,
in making loans. This company
is duly chartered under the laws
of Georgia, bas its central office in
Americus, and is managed by men
whose interests arc identified with
those of our people. It is true
that the money thoy loan is largely
Eastern capital, but the same may
be said of many banks in this
State. Having a large amount of
capital at their command for in
vestment, there are no unnecessary
delays, no waiting lor lorcign in
spectors to view the laud or for
eign altornics to pass upon the
papers. Tbe lands are viewed by
home inspectors, the papers passed
upon by homo officers and tho
money promptly paid out. It a
borrower wishes to take up his
loan before the expiration of the
loan, he is allowed to do so. They
also loan money for two and three
years.
We have nono of the fears in
dulged in by many of the papers of
this Stnte, that the capitalists of
the North arc scheming to get pos
session of the farms of the South.
Ten years ago we heard the same
cry in the West, and although
millions ( of dollars were loaned
throughout the' West, the fore
closures ef mortgages were very
rarc, and then only whero the bor-
rower had failed to pay any portion
of principal or interest and had
abandoned his property. Wo per
sonally know of hundreds of cases
whero the loans were renewed at a
lower rato of intoroit, and where
farmers by these loans wore en
abled to save themselves from bank
ruptcy. Tho loans were made at a
time when thcro had been a finan
cial panic, when lands wore low aud
crops had boon poor. These loans
enabled farmers to pull through
until they hud good crops and tbe
prico of land advanced. In the
West, following these loans, the
lands invariably advanced in price,
and to-day in that very section tbe
farmers are prosperous and inde
pendent.
We speak of what we know, and
knowing what we do, wc have no
hesitancy in saying that we believe
tho long loans on farms in this State
will m the end piove a blessing in
moro wavs than one.
FMCIAL BA
To Give Ton an Iflea of What Has Been
WE QUOTE THE FOLLOWMQ FRICES
One Hundred Men's Cassimero Suits
Regular prico $10.00, for $6.00.
250 Fairs of Pants. Former price $2.00;
now $1.00.
250 Pairs of Pants. Former price $5.00;
now $2.00.
Men's Cassimcre Saits, all sizes from 33
to 42, at 50c on the dollar.
Four-Button Cut-Aways at 33 per cent,
less than ever known before.
Plaids and Checks are all the go this
season. We have got them in large vari
ety, am! at prices that place competi
tion in the back ground.
Ill Boys School Suits
We can show you a variety of Ono Thou
sand different styles; more of them than
all the houses combined, from Macon to
Montgomery, and at prices cheaper than
you can buy common Jeans to make them.
Onr Line of Cents Underwear
Is larger than ever before, at prices we
defy competition.
IN BOOTS AND SHOES!
Wc arc Jast Lending the Caravan!
Five Thousand Pairs of Women Pokers,
from 3-7 and (J-9, at the startling low
price of G5c per pair; nover known to sell
for less than one dollar since AmericUB
has been a city.
One thousand pairs Children's Copper
Tips, never sold less than 75o, can now
be bought for 50c; a good, honest shoe*
10 Cases of Brogans, from G to 11, and
10 cases Plow Shoes from G to 11, solid
inner sole, white oak bottom, solid leather
counter, always sold at $1.50, now re
tailed at $1.00.
In Ladies’, Misses, and Children’s Fine
Shoes we can show you an elegant line,
and retail them at prices 25 per cent, less
than any house in town can buy them. .
J. WAXELBAUM & CO.
AMERICUS,
- GEORGIA.
DieraUeMforitsSeraty?
CONVULSES NEWYORKsfioa
OLD ESTABLISHED MERCANTILE HOUSES, WHOSE SOLVENCY WAS
SUPPOSED TO BE FOUNDED ON INDE8TIIUCTABLE ROCKS OF
UNLIMITED CAPATAL AND UNQUESTIONABLE CREDIT.
Tottered and Fell in a Bay!
tmnniQ mnn tin
Specially was this true of many'large and celebrated Clothing
manufacturers who had made up numeious stocks from materi.
als bought on credit. These manufacturers placed their faith
on lively and profitable September trade, absolutely relying on
it for funds to meet their maturing paper, which they had given
for piece goods, but the trade did not come, the continuous
warm weather and no customers cooked their ‘.‘goose,” and there
was nothing left for them to do but to fail .and turn their goods
over to an Assignee. It was bad. for them, but it is in your
power to make it good for you, for, as usual,, when good goods
are to be sacrificed we are always on hand. Our Mr. Joe
Waxelbaum was there, and notwithstanding the fact that we
were already prepared with a stock of Seventy-Five Thousand
Dollars, we bought Thirty-Three Thousand more in Boys, Chil
drens and Men’s Clothing, Dry Goods, Dress Goods, Fancy
Goods, Corsets, etc., at prices varying from 30 to 60 per cent,
of the actual value. Promptly at 8 o’clock
and itgwill be to the interest of every one in this city ..or country
to be on hand, for at the prices we propose selling these goods
you were never offered them in the history of the dry goods,
clothing, boot and shoe trade.
J.Waxelbaum&Co.
PROPRIETORS NEW YORK STORE,
Americus,
wide, warranted all wool, at 3.5c
yard, never sold less than COc
Ten Pieoes Black Cashmere, 42 led...
wide, 81424 oenta per yard, warranted all
woo> n , Goods worth any man's money,
“0.Colored. Ano.m,
Ing shades, at 7jo per yard, worth 121
in good cash. 1
50 Pieces Brocade Mntlasaes, worth 25.
per yard, retailing by u» now at 15c.
Id Silks, Satins, and Velvets we are ai
always, the acknowledged leaders, hnvine
them in price from 25o per yard to 45 ki
Onr 41-00 Black Silk* retails atsSh
Avenue, New York, for 41.25.
In Colored Silks and Satins we oire
you any imaginable shade; from 50c >o
41.50 per yard.
In Honsefnrnishing Goods we [ mvc
bought direct fiom importers, who had
tho misfortune to retire from husinesa
rather unexpectedly. We bought them
50c on the dollar. They have to be seen
to be appreciated.
Call and see ourTen-Cent Towel fall,
24 inohes long; all linen, worth 25c.
Twelve gooil Napkins, all linen, for 50c.
500 'Linen Hemmed Napkins, nt 10,"
with colored borders. Never sold for
less than 25c.
500 Marseilles Quilts, nlwnvs sold at
$1.50, can now be bought tor 25c.
OUR LIRE OF
Fancy Goods, Hosiery,
Is too numerous to mention, carrying n
stock of these to Fifteen Thonsnm! Dol
lars in onr Betail Department alone, nr.<1
anything we happen not to hare thcgootl
old man never made.
In CARPETS and RUGS we can mo
you 33 per cert, less than you have ever
known them before, and give you a stuck
equal to any house this side of Baltimore
to select fn.ni.
It is rather early in the season to talk
abont CLOAKS. But remember we
manufacture every garment we sell, ami
will talk abont them Inter when the
.weather grows colder, We are confident
tliero will be no cause to complain of onr
prices, and so far as assortment ami style
is concerned, we can compare with nnj
house in the State, and will take ns much
pleasure in showing our goods as in Rill
ing them.
Call Early and Avoid I lie linsli!
J. ’WAXELBAUM & CO,
AMERICUS,
- GEORGIA.
Oliver & Oliver
STILL LEADS!
We invite everybody and the public gen
orally to call at our shop and examine our
immense stock of First-Class Finished Single
and Double Seat Buggies and One Horse
Wagons, of all styles and sizes. All of which
are of our own manufacture, and will be sold
as cheap as it is possible to sell such work in cRwiTd 4
Discussing Blaine’s recent Au
gusta tirade, tlio Philadelphia
Times says: “Had he chosen to
be truthful, he would have said
that in every Southern State there
arc colored Democratic officials,
bath elected and appointed, thus
proving the divided colored vote,
and he might have added that
Mississippi, the home of Jefferson
Davis, maintains from its treasury
more colleges for. the colored race,
in addition to uni v trail free schools
than does the State of Maine.”
“Had be chosen to be truthful” be
might have said all this. But does
tbe "Continental Liar” ever choose
to be truthful when a falsehood
better serves his purpose?
Hen. Barclay Henley, of Califor
nia, one of the two demoorata of
that state who stood by bis party
in support of the Morrison bill, is
re-elected to tbe next congress,
while the four members who voted
with the republicans against the
hilt an defeated.
any market. In reference to our Single and
Double Seat Dexter Buggies, we will say we
were the first to intioduce them in this coun
try, and have from the beginning up to the
present time constantly improved them, and
we believe we now have them perfect. We
keep on hand all the while finished from 15 to
25 of these Buggies, with first-class Harness to
each buggy, and can sell you a Buggy and
Harness as cheap as anybody. All we ask is
to give us a trial.
A word now to those who have old bug
gies and wagons and desire to have them re
paired or made new: We|[will'give you more
work, and a better job, for^lessjmoney than
any other shop in Americus. Try us and be
convinced. , - ; ,
Americus Ga^ July 25,1884. »•
This is My Space!
A. D.5*McHenzie
wholesale and retail dealer in
WHISKIES,
. TOBACCO,
CIGARS, Etc.
I have in stock a beautiful Jine of all hood made Sour Mash Whiskies fonr vr-ar«
old. Also a very fine quality of Blended Whiskies, which I will sell very low
FO^EI OASH !
Now la your time to puroliosa a puro article for loss money than evir before. Also, *
Sdra araelacted^iiown goes lares,
Whiskey, Tobacco and Cigars.
A. D. B. MoKEXTZIE,
Cotton Avenue, - Under Recorder Office, - Americus, Ga
B. T. 57RD,
INSURANCE AGENT,
OFFICE IN COMMERCIAL HOTEL BLOCK,
Forsyte Street, - • ■ ■ Amerious, Ca
AGENT FOR THE LEADING
IN THE COUNTRY, GIVING YOU THE BEST INSURANCE AT
THE LOWEST RATES.
GULLET andLDMMES COTTON GIN 0 .
IVholBiMrtXCMxuillMwleill
CALL AND SEE ME, WHEN IN WANT OF INSURANCE OR OLh' s -
teptUmS R. T.
•J
