The Wichita Daily Eagle

ALLIANCE LEGISLATION.

To the Editor of the Eagle

I quote extracts from two letters lately received by me showing the views of eastern investors on the proposed legislation in this state. Both letters are from men who have loaned their money in good faith at six to seven per cent on mortgages on Wichita property and on farms in this vicinity. The first, the president of a national bank in New York, writes me, "Matters in your state appear to be very unpromising and occasion a good deal of uneasiness with eastern investors. There seems to be a disposition on the part of farmers to evade their just obligations and use every obstacle to their enforcement. It looks not so much like an inability as an indisposition to pay. This is not only unwise, but in the end will be futile, and very dangerous to the future growth and prosperity of your state. I hope wiser counsels will yet prevail." My second letter is from a New Yorker who holds a good many Wichita mortgages, and who has always been willing heretofore to give mortgagee all the time they desired where they showed any disposition to pay interest. He says: "If the Farmers Alliance controls legislation in Kansas, and succeeds in getting an act passed to delay foreclosures for three years, would it effect all mortgages or only farm mortgages? In view of adverse legislation would it not be well to commence foreclosures at once where the interest is in default so that it could be in progress; for certainly an act passed could not effect mortgage foreclosures already begun." Now these men are not Shylocks or oppressors of the poor, but are willing to show all reasonable leniency toward honest debtors. All they ask is not to be legislated out of their money.