The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1875-11-23
CONDUCTED BY ALBERT CHAPMAN.
Working Capital on the Farm.

And is this not the one great mis-
take most of us make when we pur-
chase farming lands In New England2
Do we not, with rare exceptions, pay
taxes, and support fences upon land
which Is, In large measure, unproduc-
tive, and which must remain so, until
more working capital Is applied to 1t ?
Here Is large farm, undoubtedly ca
pable of sustaining twenty or thirty
cows, but which Is carrying less than
half dozen. 1t requires just as long a
fence to inclose forty acres Of exhaust
ed pasture, as highly cultivated field,
and good deal better one to keep cat
tie from breaking through, for there is
nothing like hunger to make cattle
breechy.
As few of US can "see ourselves as
others see u.s." perhaps We can illus
trate the condition that many farmers
are in by describing mill that may,
perhaps, be found somewhere upon
one of the many little streams that
flow through New England. The mill
was built some years ago, and has al
times paid good interest on the invest
ment, but for causes we need not name,
1t was pu. on the market and sold
The machinery was sold separately,
and was removed. The real estate, in
Guiding the factory buildings, the dam
and water privilege, and the usual ten
ement houses, were bought by one who
had about money enough to pay for
the estate, but who had little left fol
purchasing machinery or for hiring Ia
borers to use it. He always "took" to
machinery from hoy. With Jack
knife, he could white out a water
wheel or windmill that would go"
He bought the establishment because
he wanted to do something, and pre-
ferred 10 carry on business and be his
own master. But not having taken
the regular steps from an apprentice
up. he hardly knows what he will
make as a specially, but concludes to
use his remaining few hundreds In
purchasing few machines for max
Ing certain kind of goods, and hopes
as the profits come In from his sales,
that he shall, after while, be able to
I'LL his mill with machinery, and his
houses with tenants. Now, how ma
ny farmers are there who cannot plain
ly see whether our manufacturer is
working up hill or down, whether he
Is padding against the current or ca.
silly sailing with it. He has bought
valuable estate. capable, with adequate
capital, of yielding a good income, but
while he is paying taxes and insu-
rance, keeping up repairs on the build
ings, msnding his dam, and keeping
his motive power in order. he is rum
ming only q half dozen machines and
employing two or three hands, when
bis mill and water power are of suffl-
clept capacity for running hundred
similar machines and giving employ
ment to twenty families, and all be-
cause he has no working capital, or is
undecided Just what kind Of goods to
make.
Is not this imaginary picture of a
manufactures working without oari-
tai too often a real one on the farm
Does not every reader of the Farmer
know that no business but farming
could float u man who managed in
such a way? And is it any wonder
that many ofus but just float when we
are dragging along such load of I'M
productive capital? The people are
just now discussing the question
whether we are not suffering by over.
production. How this may be, we
will not attempt at present to decide,
but it Is certain that farmers or mill
owners like these we have described
cannot attribute their i'll success to
this cause. If manufactured goods are
needed, fill the mill with machinery
and the capital Invested becomes val
liable property. If agricultural pro-
ductions are needed. run the farms to
their fullest capacity, and they, too,
will become valuable. But when we
buy that which we cannot or de not
~--, ~ 49, -i-At-o --- --rt.~-a, -A--A-
er 1t lie Invested in factories, farms, or
adde's. If fanny reader thinks he sees
himself In the picture we have pre-
scented. he need not feel singular or i'm
aglns that all eyes are upon him, for,
II we are not greatly mistaken, he is
en- the popular side, and can claim
eompanionship with the majority of
the farmers throughout not only New
England, but the whole country.
Ifthe case were our own, we should
try to stock the farm heavily, Just as
soon as possible. Ifthere is a littl.
profit In making little butter, and
the demand would seem to Justify a
greater production, we would hire cap
ital and keep more COWS Immediately
or course hay and grain. or both
would need to he purchased the first
year or two, after which the great &C
emulation Of manure from the stocl
ought to make the farm produce fod
der enough for feeding IL without buy
Ing to very great sxtent.-[Nsw Eng
land Farmer