Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1855-08-09
fdrmers' Deportment.


The experience cf many years has confirmed
us strongly in view taken by Us in an early
day OF defeat among farmers in regard to their
own profession. We refer to the practice Of
placing their surplus capital in the hands Of
non producing classes. Its now the common
practice everywhere, when q farmer has a sur
plus, to place il in banks, loan il TO merchants
or spectators, or invest in railroad or other
stocks. By this means the capital which has
been raised out Of the land is not used for the
benefit, principally, Of the producer, or 10 in.
crease the productive power Of his farm, but is
Withdrawn eDtirely from the reach Of those who
could use it advantageOusly in agricultural pur-
suits. The result is a want Of means among
the great majority Of farmers to make those
improvements that would materially increase
their crops, and also he permanent value oI
their farms and as the improvement of one
farm always enhances the value Of those in the
neighborhood,a public benefit must be the con.
sequence. 1t not unfrequently happens that
farmers, instead d employing their capital to
improve their own farms, put it at a small rate
Of interest in some savings bank, the most
sterile Of all banks.
We were very much struck with the bad ef-
feet OF this disposition of their money by farm.
ers, while recently visiting one of the Eastern
States. There are thousands Of acres of stony,
rocky land in all Of those States that can be
bought for from ten to twenty dollars an acre,
which by laying out from twenty to forty dol
lars in getting off the stone, would pay an an
ual interest on $500. And yet the owners of
the land will put their money into a savings
bank, at 8 per cent, rather than make the I'M.
provement. When asked why they disregard
their own interest TO such an extent, the answer
is, that they can't get any more for their farms
If they want 10 sell them.
We could not see the force of the argument
And so great do we think the chance for i'm.
provemsnt, that, if compelled 10 emigrate eth.
er way, we should go East rather that West
IL is true that those who have emigrated from
those States to the West, have made money,
but il has been more by the rise of real estate
than out Of the products Of their farms. And
there is scarcely a locality in all New England
where the farmers are not more independent,
and make more money upon the capital invest.
ed, than any OF the Western States. With the
present high prices for all kinds Of human food.
the disparity is not SO apparent as when prices
rule as low as is usually the case.
But while this illustrates part OF our theory,
it by no means covers the whole ground. Far
mers should give the preference TO farmers, all
things being equal, in lending when the money
is not TO be used Tor speculative purposes.
Few farmers can afford TO borrow money of the
banks, because they cannot turn their crops as
soon as they are compelled to pay their loans
but if they could have year they would cas-
lily meet and discharge the debt from thei
! land.
Il great many farmers have @ surplus o
coarse grains, which are we'll calculated fol
tattening cattle and sheep. They could raise
much more than they do if they were sure o
market for the grain upon their farms. They
require money to purchase in the fall a few cat
tle or few sheep, to feed for beef or muLtOr
during the winter. That money is not To bt
had short Of the bank, and as there is no GER
tainty of selling to advantage to meet the note
the farmer does not buy, and the result is thai
he makes less manure and raises less produce
while the consumer pays higher price for an
inferior article. The country is not enriched
but rather impoverished by the operation. -
The surplus capital of farmers ought to be
kept for farmers as far as they may require it,
--P.