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As lieutenant governor, Donnelly early showed his sympathy with the farmers by championing laws which lowered the legal rate of interest and which made more humane the process of foreclosure on mortgages. The outbreak of the Civil War gave him an opportunity to demonstrate his executive ability as acting governor during Ramsey's frequent trips to Washington.
This latter responsibility, however, did not long continue to trouble the farmer, for, as naturally might be supposed, the only way he could exist from year to year under such conditions was by contracting debts without the slightest prospect of paying them, which presently led to the foreclosure of his land, and his reduction from the once proud estate of an American farmer to that of a tenant on his way to become a peasant.
I was here, under authority of a court order, to conserve the estate from waste, and my attorney assured me that, under that order, I had authority to use my own judgment in the administration of the estate, following the order of foreclosure. Now young Farrel shows up alive, and that will nullify my suit for foreclosure. It also nullifies my lease to Loustalot."
But then, triumphing over his miseries, came the fancy he could have his dream of love; he had cried for the moon, and now he could have it. III. Ella's Martyrdom The earl's liabilities amounted roughly to ninety thousand pounds. The principal mortgagee was insisting upon payment or foreclosure, and there was a general feeling abroad that the estate was involved beyond its capacity to pay.
A long minority had provided him with a considerable sum on his coming of age, but he spent it freely, and when it was exhausted, continued to live on at the same rate as before, till at last, as creditors grew pressing, and mortgages threatened foreclosure, he saw himself reduced to something less than one-fifth of his former outlay; and though he seemed to address himself to the task with a bold spirit and a resolute mind, the old habits were too deeply rooted to be eradicated, and the pleasant companionship of his equals, his life at the club in Dublin, his joyous conviviality, no longer possible, he suffered himself to descend to an inferior rank, and sought his associates amongst humbler men, whose flattering reception of him soon reconciled him to his fallen condition.
Her father, Hungry Buckley, of Baroona a gentleman addicted to high living and extremely plain thinking had been snuffed-out by apoplexy, and abundantly filled a premature grave, some time in the early 'sixties, after seeing Baroona pass, by foreclosure, into the hands of a brainy and nosey financier.
The last scene was reached; the triumphant vindication of wife and child, the condemnation of the two who had conspired to defraud them, the foreclosure of the mortgages, the penury of the proud aristocrats, and the disgrace that overwhelmed them.
Four years of business at a net loss, drove me into insolvency; then a mortgage was placed upon my freehold, to be followed by foreclosure. I still struggled on, under the delusion that I was in a free land and that the Trust iniquities would not be permitted to crush the individual citizen forever.
His power with the directors seemed to be as boundless as his desire to assist the borrower. But he was helpless to prevent the foreclosure of a mortgage, and had been moved almost to tears in the expression of his sympathy with the debtor and of his horror at the hard-heartedness shown by his partners.
It can be helped by preventing realistically the tragedy of the growing loss through foreclosure of our small homes and our farms. It can be helped by insistence that the Federal, the State, and the local governments act forthwith on the demand that their cost be drastically reduced. It can be helped by the unifying of relief activities which today are often scattered, uneconomical, unequal.
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