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Updated: June 14, 2025
This was pointed at absentees, but still more at mortgagees. The Royal Agricultural Society of Ireland, a society mainly representing landlord and aristocratic views, of which the Duke of Leinster was president, took up, as became it, the great labour question of the moment.
To avoid excessive burden to the impoverished peasant the compensation is to be in the shape of bonds representing the average value of the land in each particular case, only the interest on these bonds to be paid yearly from universal taxes a topsy-turvy mortgage system, as it were, in which the state becomes the proprietor and mortgagor of the land, while its present owners are turned into forced mortgagees.
Everything to do with the Domineys for the last fifteen years had reeked of poverty. He had really had a hard struggle to make both ends meet. There had been disagreeable interviews with angry tenants, formal interviews with dissatisfied mortgagees, and remarkably little profit at the end of the year to set against these disagreeable episodes. The new situation was almost beatific.
She had arranged to pay the store's debts with the acceptable stock on hand, having made great concessions. She had promised the store building and the residence property to the mortgagees, effective after the will had been probated. To her delight, she found that the teams, blacksmith's and wagoner's equipment, and the wagons would be hers intact.
Alderman Newnham presented one from certain merchants in London; Alderman Watson another from certain merchants, mortgagees, and creditors of the sugar-islands; Lord Maitland, another from the planters of Antigua; Mr. Blackburne, another from certain manufacturers of Manchester; Mr.
Indeed, all who were interested in the church, the trustees and the mortgagees and the underlying debenture-holders, were feeling anxious.
A fourth office for lending money upon land securities at 4 per cent. interest, by which the cruelty and injustice of mortgagees would be wholly restrained, and a register of mortgages might be very well kept, to prevent frauds. A fifth office for exchanges and foreign correspondences. A sixth for inland exchanges, where a very large field of business lies before them.
The interest on the mortgages is a year in arrear, his largest farm has just been thrown upon his hands, and, to complete the tale, the mortgagees are going to call in their money or foreclose." At this statement, which was almost brutal in its brief comprehensiveness, Ida turned pale as death, as well she might, and dropped her fork with a clatter upon the plate.
He could always prove that the rents went to the mortgagees, and that he had nothing on which to exist, so on several occasions he obtained permission from the courts to cut timber and sell pictures, until he denuded the estate and made an empty barn of the old manor house.
But the time came when both sons were forced to flee; when the elder was taken and imprisoned; when the most atrocious public extortion was practised; and when ruffianly officials regarded the defenceless widows as their prey. Their house had to be mortgaged, and then first one and then the other of their two vineyards; and finally one of their fields was seized by the mortgagees.
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