THE FARMER AM) HIS CREDITORS. HI 



payment, and not to the person of the debtor. But as a rule 

 they do not wish the property. What they desire is interest 

 reguLarly paid. Especially is this true of banks and other 

 money-lending corporations who, above all things, hate fore- 

 closures and the care of property. If the debtor, living upon 

 the property, and familiar with it and with farming, can not 

 make it pay interest, the bank almost certainly can not. The 

 debtor who can not pay interest, usually has but a most 

 meager living, and no wages besides. If tlie bank takes the 

 property it must pay good wages for its care, and is not likely 

 to get interest in addition. 



AVhen an indebted farmer finds that he is killing himself 

 and his family and still making no progress, it is time to stop. 

 He has done his best and failed, and society asks no more of 

 him. It is not right that he and his should be slaves. His 

 creditors have erred in extending credit, as well as himself in 

 obtaining it, and, while the severest consequences must fall 

 upon him, it is proper that the creditors should bear their 

 share. At this juncture the duty which society imperatively 

 demands of the debtor is absolute frankness and honesty, 

 first with himself, and secondly with his creditors. It is 

 also best for himself. There are chords of sympathy in the 

 human breast which reach out even from creditors to debt- 

 ors. Honesty, frankness, and courage will cause these chords 

 to vibrate. 



The first step is to put on paper a complete schedule of 

 liabilities, down to the minutest item. Then there should be 

 a complete schedule of property, and a statement of income 

 by items as far back as possible. This should be taken first 

 to the mortgage creditor. He is the most secure, and it will 

 be to his interest to aid his debtor to a compromise with 

 others. The question to be decided is not one of intent or 

 desire on the part of the debtor, but what income the property 

 can be made to produce in his hands, or whether some other 

 available person can get more out of it. It is for the interest 

 of all concerned that the property shall be so used as to 

 produce the largest net income, and as to this lenders of 

 money will often be l)etter judges than borrowers. If it 



