Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1875-09-24
Col. Needham,a Address.


Of farming to other industries and to trade
aud speculation, and a comparison of the
present condition Of farmers to that Of peo.
pie 10 other walks Of life. TT q. AZ a
Col Needham introduced his address by
an expression Of the qualification it afforded
him to appear before an audience Of Vermont
farmers after an absence of twelve years.
When last he stood in this very place and told
ofthesuccess Vermont had won at Hamburg in
competition with tho world, there were pres
eut Edwin Hammond, who did more for the
improvement of Merino sheep than any other
man, Nathan Gushing, that thorough bust
ness man, and that model farmer Judge Col.
burn. But though they have been gathered
to their fathers their places have been filed
by others able to conduct the affairs Of the
society.
Farmers have made all branches Of educa.
ton tributary to them. They see around
them the verdaut hills Of their state, green
as in the leafy month Of June and their farms
Overlooking with bouutifu crops. But as
they look beyond the borders OF their farms
they see the stream flowing unused over the
dams, the employees idle aud the owners glad
of it, as 1t gives them a chance to reduce the
stock in their over-crowded warehouses;
Multitudes Of men and women in these dis.
tricts are suffering for the very necessaries
Of life. Merchants are feeling the depres-
sion more than ever before in their lives ;
some on the verge Of bankruptcy and many
have taken the fatal plunge. Not five in
| kun oH fuua
The stagnation in business was not aided
stimulated or produced by farmers. They
had no share in bringing the storm which
began with the failure of Jay Cooke & Co,
aud which seems far distant from the culmi-
mating point. II is not too much to say
that the farmers constitute the only barrier
to this tidal wave of disaster.
In the early part of the rebellion there
was great depression in business, but men
speedily adapted themselves to the necessity
of the case. Millions Of men were with.
drawn from industrial pursuits Of the army
Profession fell off and consumption Increased
and prices advanced almost beyond the limits
Of belief. New mills were built aud machin
cry driven to the utmost capacity. Men
made money 20 fast that an actual frenzy
took possession Of them, and all sort OF ex
travagances and speculations we're INDUCED
in as If the war aud high prices we're to con
tinue forever. Government promises to pay
fell TO q great discount aud gold advanced
to fabulous premium, but in all these fuc
tuations farms held their level. A farm
represented little more paper money than i
did in the days Of gold.
| Al ..
of cars on down grade with brakes off anC
full steam on. When the war was finished
and million Of men taken from the rank
of consumers and thrown upon the country
as producers, no steam was shut off, nj
brakes applied. All at once the train reached
; a rotten bridge. Jay Cookies failure wa
not the cause of the panic, it was only tn
first evidence to the country of its true con
diton
While business was at this fever heat ant
money made by everybody, railroads wer
built through unproductive regions whic
7 could never pay interest on the cost, oil well
sunk, mines started and companies for man
ufacturiug organized, until the only men lief
who did any work of real value were tn
farmers, artisans and mechanics. The pres
carried to every home the news of thes
0 INDUSTRIOUS speculations. The name Of ia
{ Cooke so honorably connected with the credi
v of the nation during the war, was used
promote schemes as empty as bubbles. TIL
religious press was used to spread the know
{; edge of them over the land, not only by ad
y vertisements but also by what purported to b
Q editorials which were trusted by the CON
muuity, but which were basely sold for gail
until people were deuded into putting the
u money into such worthless schemes as Ii
o Northern Pacific railroad. Then the hub
!. bles burst OF inside pressure, but the farmer
p were not involved in the crash.
=, Among the evils brought upon the countr
- is the enormous debt, not the national deb
: that is sure and safe, but debts incurred fC
{ unnecessary improvements which resulted
It n spirit Of pride and are left for fourteen gel
= erations to Pay. But Vermont has been q
exception to this rule.
The real cause of this disturbance in bus
9 ness is the extravagauce induced by the wa
0, aud not paper money, the national banks {
Y the tyranny Of capital over labor, and it wi
f continue until labor returns to its prop
level. A Generalization of business is MOI
apt to result from overpaid than underpa
i labor. Men will not make judicious u
o of the proceeds of ovsrpaid labor. The
A. have not the capacity to prudently use moi
., money than they can legitimately ear
The increase in compensation must corr
IS spond with the ability fthe labor. That
n law no man can overcome. M popul
70 clamor or vote can alter or affect it.
h. There are two grand evils to be regarde
!. One is the extravagance Of the people at Il
:" north have INDUCED, in families, in tow
IS and legislatures. The other is the enormo
debts under which we labor State and toV
ic debts are nearly ten times as large as nil
:. years ago. Until these debts shall cease
=, augment and begin to be cancelled all HOP
- OF any great reCuperation must be aba
10 doned.
is The formerly wasteful south has bee
~ taught economy by the war. The prese
:, generation of young men then Injured to to
" and self.reliaDt is destined to Inaugural
" a new era. The habits of industry and fir
1t gality which characterized New Englal
re have been transformed to the south, and it
v n question il they are not the means OF eI
4, vatng them 10 dominate over themselv
y and the country.
'y Looking back tO.the shameful waste al
prodigality is il a wonder that there a
on bard times But in this loss and panic I
ma farmers are still prosperous.
!. We have been compelled to except sCho'
VI and colleges as aids to agriculture. To
TO son of Vermont belongs the honor Of havi
o. called the attention Of government to I
We Importance Of agricultural education. I
Al. time has at last arrived when the mi
y varied learning and the best mechanic
us skill are recognized as necessary to the big
m, est type of the American farmer. If I
country RECEIVERS from the present prostrati
it will be owing to the power of agricutu
north and south Already the eastern hOl
81 -.