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Now we must learn to insert the keeping of household accounts; the study of apportioning incomes; the scientific spending of a dollar in food or clothing value; the relative advantage of cash or credit systems of paying the running expenses of a home; the dangers of the "easy-payment plan"; the cost of running an automobile; comparison with the upkeep of a horse and wagon; comparison of the two from the point of view of their usefulness to a family; mortgaging homes, what it means, and what it costs to borrow; when borrowing is justified; the accumulation of interest in a savings account; the comparative financial advantage of renting and owning a home; the cost of building houses of various sorts; the cost of securing, under varying conditions, a water supply in the country home; and other locally important problems.
He thought that he could very nearly see the slight curve of her lips, the sunlight shining in her hair, the expressions of delight or concern on her brow. Well, anyway, things worked out so well that pretty soon the girl's father was mortgaging his house to pay for the wedding.
It was natural that others should want to get an advantage over him, but then, he was a little too cunning for them. "So, sir, you've been paying ten per cent for money which you've promised to pay off by mortgaging my land when I'm dead and gone, eh? You put my life at a twelvemonth, say. But I can alter my will yet." Fred blushed. He had not borrowed money in that way, for excellent reasons.
As matters now stand, you could raise money on your farm only by mortgaging it, which would put you in debt at the beginning of your life, and I fear in the end would swallow up all your property. As soon as I am restored to civil rights, if I ever am, I will settle up your grandfather's estate, and put you in possession of your share.
He figured to make two per cent. on the total transaction, or twenty thousand dollars. If he did he was going to buy a house out on Girard Avenue beyond the Butlers', or, better yet, buy a piece of ground and erect one; mortgaging house and property so to do. His father was prospering nicely. He might want to build a house next to him, and they could live side by side.
As I have already stated, the townward movement of the proprietors was strongest in the barren Northern provinces. In the province of Olonetz, for example, they have already parted with 87 per cent. of their land. The habit of mortgaging and selling estates does not necessarily mean the impoverishment of the landlords as a class.
As a single example of the results, one delegate reported that since the conference was started, seven years ago, eleven people in his neighbourhood had bought homes, fourteen had gotten out of debt, and a number had stopped mortgaging their crops.
To the eighth interrogotary the deponent answers and says, Upon the subject of this interrogatory I can express only a loose opinion, founded upon the conjectures at the time of what could be effected by Mr. Burr by mortgaging the patronage of the executive. I can only say, generally, that I did believe at the time that he had the means of making himself president.
It is extraordinary how reckless some of those we dealt with were in giving orders for goods and in mortgaging their property as security, without a prospect, as far as we could judge, of their being able to pay us without allowing the mortgage to be foreclosed.
The intention of the legislator, when instead of mortgaging he prescribed the immediate transfer of the property to the creditor with a view to prevent insolvency and to devolve the burdens of the state on the real holders of the soil, was evaded by the rigorous system of personal credit, which might be very suitable for merchants, but ruined the farmers.
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