Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1875-04-09
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St. JOhn.bury, vt, April 0, 1875.
Don't Go In Debt

There has been so much written and said
on this subject that il seems old, but the need
for the caution is just as great, yes, greater
than ever. Borrowing and debt seem to
be on the increase, and what wonder, when
the government itself sets the example ?
What wonder that men who find themselves
embarrassed do not hesitate to keep on run
ming deeper and deeper into debt, until f.
nally they 60 through bankruptcy or settle
with their creditors at 20 or 80 per cent,
when the government of the nation is doing
virtually the same thing, when the govern
ment paper is passing at discount Of fifteen
per cent, and some even advocate the repu-
diation Of the debt?
But whatever the government may do,
we would urge upon every man the import
ance Of keeping, so far as possible, out Of
debt. There is a great temptation for
man, especially young man, to undertake
to "set up for himself before he is really
able. He sees others begin business for
themselves on borrowed capital, and somo-
times such one succeeds, aud, rejecting
that "What mao has done man can do" he
makes the attempt Especially is this the
case with the young American farmer Ev-
cry principle of his nature revolts against
long continuing in a condition Of subserv-
iency he wants to be free, to be his own
man. This is natural, with our institutions,
but from personal experience on the farm
both as employer and employee, as well as
from the testimony Of hundreds of others
who have had similar schooling in the school
of experience, we are fully convinced that
unless young man can pay for his farm
and own it free from debt, or, at least near
ly so, be will find himself subject to much
more irksome, wearying, wearing bondage
while struggling TO meet the payments as
they fall due and at the same time support
his family than that to which he is subjected
as hired laborer on most of our farms
Men seldom start in trade without o capital
Of their own. aud when they do in nine cases
out Of ten they turn bankrupt in less than
ten years.
Men are prone to look on the brighter
side of the picture of future life, and it is
well SO, for could we see all the trials, suf-
ferings, and sorrows in store for us we should
often sink in dependency But it is vel
sometimes to count carefully the cost, and
here, as young man starts out in life, is 1
good time to do SO. You can, if you have
the best of success, and all your plans turn
out as we'll as you hope, make success
But how often do sickness and misfortune
overtake us The man who abors for hir,
has no fears Of short crops, Of a poor mar
ket, of any of the accidents which threaten
to destroy the farmers substance. His wag
es are sure, and whilo health lasts will con
tinue so. He can count almost with certain
ty the years and days to the time when h
can buy the little farm on which he hopes h
make home, little paradise on earth, and
when that is achieved, if no banker or mon
ey lender holds mortgage on that home
and there are no installments Of interest CON
ing due, the state Of the market need be Iii
tie cause for anxiety. "Seed time and hal
vest shall not fall" and his home and fan
5 lily are sure Of their sustenance from Mothe
Earth. The farmers life is called FIRE
and independent one, as indeed it is when h
can call his acres his own, and be free fror
the cares and anxieties which burden tn
} business man, and which he must in par
share so long as he knows that at such ant
such time payments will come due on tn
mortgage which he must meet or be 10 dan
/ ger of losing his home, his all. We knov
! parties who hold farms which are half pal
for, and who yet have to struggle wit
might and main, and are wearing their live
away in the struggle to gain q support fc
their families and have enough left each yea
to meet the interest on the unpaid half Q
the cost of their farms. That kind of life
and that kind of farming does not pay.