African American farmers -- Southern States; Agriculture -- Economic aspects -- Southern States
The possibility of extortion which this method makes possible is
evident.
It is worth while also to reproduce a copy, actual with the exception of
the names, of one of the blanket mortgages often given. The italics are
mine.
THE STATE OF ALABAMA,
LOWNDES COUNTY.
On or before the first day of October next I promise to pay Jones
and Co., or order, the sum of $77.00 at their office in Fort
Deposit, Alabama. And I hereby waive all right of exemption secured
to me under and by the Laws and Constitution of the State of
Alabama as to the collection of this debt. And I agree to pay all
the costs of making, recording, probating or acknowledging this
instrument, together with a reasonable attorney's fee, and all
other expenses incident to the collection of this debt, whether by
suit or otherwise. And to secure the payment of the above note, as
well as all other indebtedness I may now owe the said Jones and Co.,
and all future advances I may purchase from the said Jones and Co.
during the year 1900, whether due and payable during the year 1900
or not, and for the further consideration of one Dollar to me in
hand paid by Jones and Co., the receipt whereof I do hereby
acknowledge, I do hereby grant, bargain, sell and convey unto said
Jones and Co. the _entire crops_ of corn, cotton, cotton seed,
fodder, potatoes, sugar cane and its products and _all other crops
of every kind and description_ which may be made and grown during
the year 1900 on lands owned, leased, rented or farmed on shares
for or by the undersigned in Lowndes County, Alabama, or elsewhere.
Also any crops to or in which the undersigned has or may have any
interest, right, claim or title in Lowndes County or elsewhere
_during and for each succeeding year until the indebtedness secured
by this instrument is fully paid_. Also all the corn, cotton,
cotton seed, fodder, peas, and all other farm produce now in the
possession of the undersigned. Also all the live stock, vehicles
and farming implements now owned by or furnished to the undersigned
by Jones and Co. during the year 1900. Also one red horse "Lee,"
one red neck cow "Priest," and her calf, one red bull yearling.
Said property is situated in Lowndes County, Alabama. If, after
maturity, any part of the unpaid indebtedness remains unpaid, Jones
and Co., or their agents or assigns, are authorized and empowered
to seize and sell all or any of the above described property, at
private sale or public auction, as they may elect, for cash. If at
public auction, before their store door or elsewhere, in Fort
Deposit, Alabama, after posting for five days written notice of
said sale on post office door in said town, and to apply the
proceeds of said sale to the payment, first of all costs and
Public-domain text, read in full here on John Shaqi.
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