The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-11-13
GhnqntelGqerreer.
depreciation OF Farm Property.

Depreciation Of Farm Property.
We notice occasional reports Of sales
Otiarm property in Washington county,
Pa, at apparently pretty round Gsures-
20 round in fact that one would suppose
that there had been very little II any
depreciation. Once and awhile, how.
ever, there are saleA reported like the
following, which we fnd in the Reporter
Of las! evening:
"Mr. Wm. Wickerham has purchased
tho farm Of the late Michael Teeple, in
CIuoII township, LOG acres, at $50 per
acre. About four years ago Mr.. Teepls
refused 500 per acre for the same farm,
which offer was then made by james
Simpson, Of the same township"
This would seem 10 show heavy de.
cline in the saleablC value Of iarm1 in
Warrington county. While We do no!
suppose that tho land generally changing
hand. in that county is sold at snch
sacrifice, yet no doubt the decline in
prices ia frequently from thirty 10 fifty
per cent as compared With old values,
Why this should be tho case admits Of
only one explanation, Wis, that more
t4rmerl than usual are 10 deb! beyond
their ability to pay, and that therefore
more farms than usual are being sold for
debt. We understood some time ago that
a number Of the Washington county
farmers had gone in debt for sheen several
ysara back, at the time when there was
turOr forsheep pand come otthem also bor-
rowed money to speculate in both sheep
and wool, giving mortgages on their farms
for security. These debts have never
been paid Of, but have accumulated, and
hence occasional sales have been going
on tor two or three ysar1 at declining
prices to satisfy them.
There 10 no other reason than this why
the usually high priced land Of our
neighbors should fall in seiling value.
Firm products have paid as we'll as usu.
81 OF la.e-rather better in iact-and
their proceeds will tO,dly buy more fam.
lily suppliea Of all kinds, and also hire
more labor and pay for more improve.
usnts than at any time for years past.
Why then should the prics otland decline
from thirty to fifty per cent? Not Ger.
t4inIy from the want Of plenty Of solvent
buyers all around them. Farmers gen.
srklly in Washington county were never
more solvent than at this time. But they
have, since the panic, contracted an un.
usual fear Of debt. They have seen farm
alter iarm sold on account Of debt-the
farms Of old Geishbors and triends-nnd
they have seen n steady decline in the
prices OF all commodities, and they have
also heard grea, deal about the an!ici.
pIIed effects Of specie payments, and thus
they have lost the nerve they Cnco lad in
the matter Of buying land on partial
credit.
There is no reason in the present state
Of affairs why farm worth slOO per
acre four years ago should now only sell
br $50. There may have been no reason
why it should have sold for 500 four
years ago, but admitting that it was
worth that price at that time i! is GER
taiuly worth great deal moro than $50
to-day. Washington county, like all the
counties hereabout, is not going back in
respect to those things which give value
to real estate, but on the contrary is go.
Ing forward. AT no time in the past has
the spirit Of Improvement been more
marked among the people. Railroads
are opening up this region TO the mar.
kets Of the country, and atlitrding iScili-
ties for travel and transportation never
before enjoyed by our farming population.
Hence there is not only no good reason
why lands within our borders should
decline in value, but apparently every
reason why they should hold firm 10
price.