Rensselaer Union, Volume 8, Number 43, Rensselaer, Jasper County, 13 July 1876 — Loss and Gain. [ARTICLE]

Loss and Gain.

The story is told of two Yankee boy* who were so sharp at trading that, When for soma cause they were abut up In a room together, they traded Jack kfiivos until, on investigation, it waa found that each had made fitly cents and had his original knife beside. That may be called fhney financiering: usually there la no gain without some loss. When we hear of men making fortunes by Wall street speculations, wa are likely to suspect (fiat someMody has lost; and thus it goes the world over—gain and loss, foes and gain. At present the cry of “hard times,” “ depression of business, n “ want of conHdcnce,” is heard all over the country, and mercantile failures are of constant occurrence. Many, who a few years ago thought themselves in quite comfortable circumstances, are nowunfible to pay their debts, and thelittof Insolvents iSoonstantljrgrowing larger. But the real property in the country is constantly Increasing. There Is more to-day than ever before; why then, this depression? Synplv liecause of the inevitable law that makes in every country as It grow* rich richer and the poor poorer; comparatively at least, if not in fact. We will not undertake to look for the basis of this law; too many have tried that, and failed to find it, to encourage us in undertaking It; but we are no leas certain that we see all around us the little property of the poor man wasting Sway only to swell the purses of the rich. Let us see if we can illustrate: A friend, who had by economy saved $4,000, was advised some three years ago to build • house in a location where the prospect of a speedy rise of property was flattering. His 14,00# paid for a lot, and $9,000 were borrowed with which to build a house, which was secured by mortgage on the whole. This mortgage became due last month. The property had “shrunk”—or depreciated in value—so much that the mortgage# did not consider it good security forms money and demanded payment. The house was sold for $7,500, leaving for the owner after paying the mortgage, $1,500 instead of $4,000. Here was a loss of $2,500 to him. But who has gained? Why, the capitalist. He has no more dollars to be sure, but with those dollar* he can buy a* mfleh as three yean ago he could have done with $8,500. A man, who three years ago inventoried his property (mostly in real estate) at $250,000, was recently complaining that he had lost by depreciation, In two years, $50,000, and was pleading poverty bitterly. “ But,” said a neighbor, ►‘have you not as much in Jand ana buildings as before?” “Yes; but I could not sell it for more than $200,000.” “ Well, admit it. Could yon not, with #2001,000, buy the same amount of property elsewhere as you held before?” “ Yes; but my rentshave fallen off twenty per cent.” *“ Well, with the rents you receive in a given time, can you not build another store as readily as when you were getting more?” “Certainly.” “Then you are no poorer but richer when compared with those who have lost the whole of (he tittle they possessed.” He who owes a thousand dollars to-day must part with more of his property to pay it than he would hare been obliged to do three years ago. The creditor Is the gainer and the debtor is the loser. The Scripture is fulfilled which saith, “ Unto him who hath shall be given, and from him who hath not shall be taken away even that which he hath.” Moral— Keep out of debt.—Rural Mete Yorker.