FREE BOOKS

Author's List




PREV.   NEXT  
|<   57   58   59   60   61   62   63   64   65   66   67   68   69   70   71   72   73   74   75   76   77   78   79   80   81  
82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   >>   >|  
me a sleight-of-hand performance. The homesteader could not get this receipt of title until he paid the Land Office for the land, and he could not pay for the land until he had the receipt to turn over to the loan agent. So it was all done simultaneously--money, mortgages, final-proof receipts; like juggling half a dozen balls in the air at once. It was one of the most ingenious methods of finance in operation. Banks and loan companies went into operation to handle homestead loans, and eastern capital began flowing in for the purpose. Being familiar with Land Office procedure from my work on the McClure _Press_, I knew that not every winner of a claim on the Lower Brule reservation would come to prove it up. A few of them would relinquish their rights. The buying and selling of relinquishments, in fact, became a big business for the land agents. There was a mad rush for relinquishments on the Strip, where landseekers were paying as high as $1000 to $1200 for the right to file on a claim. I wanted a relinquishment on the reservation, in the very center of it, and I found one for $400. Then I made a deal with a printing equipment firm for a small plant--a new one! And, although there were only a dozen settlers or so on the land, I pledged 400 proof notices as collateral. These proofs at $5 apiece were as sure as government bonds; that is, if the settlers on the Brule stayed long enough to prove up, if the newspaper lived, and if no one else started a paper in competition. But on that score the printers' supply company was satisfied. Its officers thought there was no danger of anyone else trailing an outfit into that region. We arranged for straight credit on lumber for a print shop, there being nothing left to mortgage. From now on we were dealing in futures. In just two short weeks I had become a reckless plunger, aided and abetted by Ida Mary. The whole West was gambling on the homesteaders' making good. Long we hesitated over the letter home, telling of our new plans. Under the new laws, one must stay on a claim fourteen months, instead of the eight months required when Ida Mary had filed. At last we wrote to explain that we were not coming home this spring. We were going on to a new frontier. Earnestly as we believed in the plans we had made, it was hard to make that letter carry our convictions, difficult to explain the logic of our moving to an Indian reservation so that Ida Mary could run a non-
PREV.   NEXT  
|<   57   58   59   60   61   62   63   64   65   66   67   68   69   70   71   72   73   74   75   76   77   78   79   80   81  
82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   >>   >|  



Top keywords:
reservation
 

receipt

 

letter

 
settlers
 

relinquishments

 

operation

 

explain

 

Office

 
months
 
thought

danger

 

trailing

 

officers

 

supply

 

spring

 

company

 

satisfied

 

coming

 

outfit

 
straight

credit
 

lumber

 
arranged
 

moving

 

region

 

printers

 

Earnestly

 
newspaper
 
stayed
 

government


competition
 

started

 

Indian

 

frontier

 

required

 

convictions

 

abetted

 

plunger

 

fourteen

 

hesitated


telling

 

gambling

 

homesteaders

 
making
 

reckless

 

dealing

 

futures

 

mortgage

 

difficult

 

believed