The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-09

the msoer in hand except for that class;
NOT . small one, that just now reel
tnn storm and stress consequent. upon .he
These farmers and stock rsers have pastered them
selves all over with these instruments, aud with ite
income to meet their obligations have been compelled
to succumb to the fate inevitable.
CONVERTING INTO HOG
year than for the mat Three and for the reason
that crops, whole better and secured BETTER
But here is point to DO taken into account-and II
is phase OF this question that we have referred to
elsewhere in this communicaton-hog last year,
early IN the season, brought good prices; this year
they nave been low from the opening. Where last
year the farmer could feed his corn and realize
handsome profit his hogs, this year he has little
or nothing 70 show tor his labor or his cereal after
resolving it into pork Thus it will be seen that there
has been one great drawback and that while. from the
fact Of having better crops than usual more money
has been made 10 il likely to be offset in the end by
the failure to realize formerly this one impor-
tant product OF the farm. The movement
Of crops in the region under consideration
ing 1877 1876 for wheat and oats and
perhaps potatoes. Thus far but comparatively little
corn has been sold and hogs been held back for
the double purpose of eating the corn and for higher
prices.
CHEAP LAND-FoRcEp SALES.
There is prospect OF increased crop next year,
as shown III the vastly increased acreage of winter
wheat aud the great quantity Of land already poughed
to invest capital III farming, my correspondent says
there is little Improvement manifested. The low
price Of produce and the crowdins OF the markets with
farms sold under the foreclosures OF mortgages and
trust deeds by usrers and loan agents have brought
prices OF farm lands and real estate generally down
to the very bottom, and there is little price or
demand for real estate etheri town orcountry than
for stale eggs in July 1.-The average price for fairly
good l6oacrc farms, with improvements in buildings,
fences. orchards, pastures, meadows and the like,
common to this country, does not exceed $40 per
acre; the outside range being between Sl5 and SIS.
Most OF these alarms can be bought on easy terms,
if onethird one-qnarter down and ten per cent in
terest, in trust deed for security thought easy
terms" The soil is not exhausted. Crops do not
q Sie ic mia
security for proDery and life. 1.-The truth is the very
richness Of these acres has been, in many cases,
the farmers ruin. Those who compelled
to sell now borrowed their money in flush times,
promised to pay high ratcs Of interest and failed IN
both interest and principal Their possessions must
CO." Take one county in Illinois example
Champaign For the past three months, and in
deed for longer period, the seven or eight county
papers have contained weekly, altogether not less
than thirty distinct and separate notices OF sales and
foreclosures under mortgages and trust deeds, and
down to seldom more than enough to meet principal
interest and costs" Farms which from lodi to 1872
could not have been bought for $50 per acre are now
seeking buyers at less than half that figure.
AN ovERTRADED COUNTRY.
As to the question whether the people are better off
three years ago. it would be no hard question to re-
turn take the foregoing statements into
consideration. Those who are under the harrow Of
mortgages and high interest-and this is very great
class-are beyond all question. suffering more than
ever before. Those VINO their way clear or
who may be sailing free are perhaps better of than
for some years past. Thus that the depressed
are more cast down than before, while tho
financially footloose are better of than before.
There would seem to be marked improvement in
dry goods and grocery lines OF business 1t is rather
DIFFICULT to state whether confidence is returning and
the general business prospects for tho next year
couraging. The country is bennmbed. Frustrated
and disheartened under accommodating taxes and in
teres Until the evidence is conclusive that there is
large decrease in the number of foreclosures and
forced sales there be general and lasting return
of confidence The people in the region we are con-
sidering arc Thought to have more money than they
~ las Vear theV a max fltnr 6all no
well as they used Driven from the necessities Of
the and to themselves from starvation. the
people largely avaei themselves Of the sIberfugcs
provided by the law, and the result Is that the
numbered and the indepcndent--the very few--pay,
and pay more promptly than ever; while the many
the great majority-don't pay 1T all How nearly
worthless unsecured debts considered is quite
well illustrated by the declaration OF old lawyer
that the total amount likely to be realized from tho
judgments OF circuit court during session of some
two months or more would not pay the expenses OF
the court Now. in the foregoing paragraphs we
have actual representation OF the condition OF
affairs in one OF the greatest States in the Union
While the statements are limited to district
the latitude here marked Off the condition or the
farming class is but reflex Of that here given. We
find the husbandman in other localities staggering
under the same financial embarrassrncnts.
DAIRY PRODUCTS &Eg
We find in the North say. that dairying is great
industry to which farmers have OF late turned
their attention, abandoning to great degree cereals
and other farm products for cheese and butter When
we begin our INQUIRIES as to the condition OF the dairy
interest met with array of figures to show
that it is greatly depressed and avalanche of facts
to prove that it is owing in payticuar at least to
oycrproducton, while the anxiety Of manufacturers
to get rich has prompted them to place upon the
market inferior goods. which has had the
effect to greatly injure the market. Large
failures in the dairy business have been reported from
the West and Northwest this season, ana these have
had dcmoralizing effect upon the trade. Worthless
firms have started in without capital swndlcd FARM
ers out of their milk for months and finally given
up the ghost AT present there is a more healthy
feeling in this business and the trade bat during the
u-tea sntif hnap haa NJ all nt+tft Mar. ss
no reason why the production OF butter and cheese
shall not prove of great to people
It must become paying investment just SO soon as
honest goods are put upon the market No grease
can be tolerated for butter, no skim milk cheese will
meet the requirements of the trade
Turning from Illinois, let MS glance q moment
at Wisconsin NV corrcspondcnt ~ w al Fort
Atkinson, writes that the condition OF that portion OF
the country is beyond doubt improved. Farmers
have not. rule made more money than for the last
been frugal in everything, hence have applied
more to cancclling debts and generally studying
with better general results than they have before
since prices cut OF. There is, however.
very great room for improvement yet.
QUICK GlTURSs.
The movements of crops have been more ac-
tive than in the late past, and for the following
reasons Farmers have generally learned that It
Is safest to market products
they ready for Market and the necessity for turn
ing crops into cash soon rs possible TO meet ex-
peuScs anu osUtS tcIlucus WITH
jeopardy Of the hog crop by disease and the OF
loss by decay, to force the marketing at low prices
of the small surplus of potatoes and apples
The loss of hogs by disease has not been general but
il has been heavy in districts Dairy products
of which tho amount has been very large in 1875 have
been forced pcl-mcll the market, which has been
gluttcd with poor goods, both ut home and abroad
several months and much Ahccsc and butter have
been sold fur below the cost of production.
Quite great breadth of winter wheat and rye is
now sown has been at this season in some years
and Judging from the area that has been broken dur
ing the unusually open and propitous autumn and
nearly up to the present time, the area m corn in
1879 will be q full average.
INVESTMENTS FEw-pEoPLE BETTER OFF.
There is not great disposition TO invest in
farming and general business there in former
years. But ii must be said that there greater dis
position than before to invest capital in -four
aud other manufacturing. In Wisconsin people are
gradually drifting into the cash system Of business
Generally speaking .peope better of in this
region than they were two or three years ago.