“We are such agents, but our instructions do not permit us to loan on anything but improved city property. Our clients do not like to put their money in plantations.” “But, suh, what will become of the cities if the people do not help those in the country? My place is wuth easily foh times the money I want to bowwow, and every dollah of the money bowwowed will go into the place.” “It does look, Mr. Turpin, as if money ought to be had for such purposes. But all of our local capitalists have their money tied up in the city, and outsiders won’t loan on farms.” “Then I kain’t bowwow the money, suh?” “I am afraid not, Mr. Turpin. You might try elsewhere, but, to be candid with you, I do not believe you will succeed.” “Well, suh, then I will have to go back to my wuk at the railroad station, and let the land lie idle. Why kain’t the govuhment loan us on our fahms the money needed to cultivate them? ’Pears like I hearn tell thar was a man out in Calafohnea what wanted the govuhment to do that likes.” “Yes,” replied the cashier, “there is such a scheme, but it is totally impracticable. Of course the government cannot embark in the business of loaning money on landed security.” “But ain’t the govuhment in the loanin’ business now, suh? Whar do you get the circulatin’ notes of youah bank? Don’t you bowwow them of the govuhment, without interest, by puttin’ up United States bonds as security?” “Oh, that, you know, is quite a different thing,” answered the cashier, smilingly. “Whar’s the difference in principle?” persisted the man from Coosa. “If a govuhment bond foh $1,000 air good secuhity foh $900, what is the reason that a piece of land wuth $1,000 kain’t be good secuhity foh $500?” “The bond,” said the cashier, “could always be sold at par. It is not so easy to find a purchaser for land, even at half its value; it might be worthless, you know.” “I am not supposin’, suh, that the govuhment would loan money on wuthless land any moah than on counterfeit bonds. I’m talkin’ about sich land as ain’t wuthless, and kain’t evah be wuthless. I’m talkin’ about land that has an airnin’ capacity, when human labor is applied to it. I allow that sich land, when valooed honestly, and not countin’ any buildings or improvements, or anything that can be burned up or carried away—I allow that sich land is just as good security foh a loan of half its value, as any govuhment bond is security foh a loan of nine-tenths its valoo. If the land ain’t wuth nothin’, I’d like to know what the bond is wuth? As I argefy, all the valoo’s on the yearth, suh, bonds and banks and govuhments theyselves rest upon the land and the labah that tills it.” “But the amount of national bank notes that can be issued on government bonds is limited by law,” remonstrated the cashier.