Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1856-02-22
A Serious Error

r., experience of many years has confirm.
ei ~ strongly In view taken hy us in an
CARLY day, OF a defect among farmers in
regard 10 their own profession. We refer
20 the raciic, OF placing their surplus
capital ia ,hr hand, Of n1n.pr1iuclns cla.s-
-. |, i. now the common practice every.
whore, when farmer las a surplus, o.
place u in banks, loan 10 O. merchant, or
.Ierulator., ur invest it FOO railroad or Other
,,o,k, By ibis means thc capital which
hl, heIu raised out Ut the land &, not us'l
f,r the benefit, principally, of thc producer,
or o. increase the productive power u his
farm, bat !, withdrawn entirely from the
rrach of those who could W., it aiuutl-
rrou.ly in agricultural pursuits. Tho 70.
sIlt is a want ol means among q great ma
jr.iy of farmer, % make those improve
mcu,. tl.at would materially increase their
crops, and also the permanent value ofthcr
farms. aud as the improvement Of one farm
always enhances the value of those in thc
ncishhorhoui, public hrnclt must h' the
consequence IL not untrcgucntly happen.
at farmers, instead Of employing their
capital n improve their own farms, put Il
az a small r,tr or interest in some saving
hank, thc.most sterile Of al hanks.
We were very much struck with the bal
eject OF this disposition Of their money, by
farmers, while recently visiting one Of the
E'strrn States There arr thousands OF
acres Of stony, rocky land in al Ut those
States that can be- bought for from ten o.
twenty dollars an acre. which, by laying
out from twenty u forty dollars in getting
Of the Stone. would pay an annual interest
ou two hundred dollars, Aul vet the own.
Crs of the land will put their money into a
saving. hank, nj five per cent, rather than
make the Improvement When asked why
thcy disregard their own interest to such an
, extent. the answer is, that they can't get
any more for their farms IL they want % sell
them.
We could not sec the force Of the argu.
mcnt. And 50 great du We think the chance
llr improvement. that. ir compelled 20 crui.
crate either way, We should % Fast rather
rmigratcl from those States to the West,
have made money, but it has hocn more 10y
the rise Of real estate than OFT Of the pro-
duets of their farms. Aud there is scarcely
% locality IN an New England where the
farmer, arr not more independent, and make
more money uulu the capital invested, than
in any urthe Western States. With the
prrs'ut high urIrrs for all kinds Of human
food, the disparity is not - apparent rs
when prices rule Us low rs j. usually the
case.
But while this illustrates part Of our
theory, y hy no means covers the whole
ground. Farmers should give the preference
% farmers, all things being equal, in lend
ing when the money is not 20 he used Tor
speculative purposes. Pow farmers can al
torl 10 borrow money Of the banks, because
. they cannot turn their crops a. soon as they
are compelled to pay their loans, but It
they could have a year they would easily
meet aud discharge the debt from their
I land.
/ 4 great many farmers have surplus Of
coarse grains, which arc well calculated for
httcuing cattle or sheep. They could raise
much more than they DO il they were sure
ola market for the grain upon their farms.
They require money TO purchase in the fall
few sheep, TO feed for beef or mutton
during the winter. That money is not TO
be had short Of the bank, and Us there IS
no certainty )f selling to advantage to meet
the note, the farmer does not buy, and the
rtsult il that he makes Ices manure aud
raises less produce, while the con.umcrpl
higher price for an inferior article. The
I country is not enriched but impoverished by
the operation. The surplus capital of far
mers ought to be kept for farmers as far as
they may require 1t. 2.
Rural New Yorker.