Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1878-02-15
thinning in Dcnt for a YARN.

There is much to be said on both sides of
this question. and success often or generally
depends more ON the character of the man
than the adoption of either systen-debt or
no debt. Nevertheless. some general princi-
pies may be laid down that may be useful to
every young man who is about entering ac-
tive business in farming and who does not
possess much capital.
The first thing to understand is the nature
and character of compound interest. or the
amount of money one has to pay towards
debt in long run of years. Suppose a hun
bred acres of land are bought. one-third paid
down. and debt of four thousand dollars re-
mains. At seven per cent. this amounts to
two hundred and eighty dollars per annum
and after the purchase of tools seeds ami
mails, &c, and supporting his family, in con-
nection with paying shopkeeper's and black
smiths bills, the young farmer will do well if
he keeps down this interest without reducing
the principal Two hundred and eighty dol
lars every year, good seasons and bad ones,
would amount in ten years. interest alone.
compromising it as he should once year. to
80, or in twenty years in the same way,
1t would reach S1l.4S 1t would be an in
teresting and practical question to ask any
farmer who owns hundred acre farm with
out debt, if he could lay up S11, 900 in twenty
years from il : If he could and the Young
farmer whose case we have supposed. might
do as well. then he could keep down the in
terest, but he would not reduce the four thou
sand dollar debt.
Much would depend on two conditions. one
of which we have already mentioned. namely,
the skill, energy, economy and good iudg-
ment of the farmer: and the other is the
quality of the land. Poor land may do when
it is all paid for. but a heavy debt cannot be
paid by working it. A well-known and sue
cessful business man began farming as the
owner of a poor farm. He rented this farm
for what he could get, and then took fertile
farm on the shares. His half of the products
of the good land paid him better than the
whole of his own poor land. 1t is better to
have small and rich piece of land than an
extensive and sterile one.
Most farmers on looking at the figures We
have given. Will incline to recommend keep
ing out of large debt. Yet there is one ad-
vantage in some debt. 1t stimulates to indus
try aud economy. A neighbor who had sue
ceeded, by hard work on his small farm
mingled with days labor when he could spare
the time, and by close saving. in paying the
last dollar of debt on it. remarked to us a year
or two afterwards. Il must contrive to get
into debt again, for, as have easier times, l
do not make anything"
We have given the preceding figures. not
to discourage young farmers wholly from i'll
curing debt, but to show in advance and be-
fore too late, the character of the RESPONSE
bility they are assuming 1t may now be
well TO see what young man may earn by
labor alone as hired hand. If he can get
his board clothes, and 500 year to lay up.
he Will have IN ten years if he adds the year
ly interest at seven per cent, the sum of 50 e
700. In twenty years he would have IS. 600
Even at 500 saved yearly, half of these sums
would not be bad. Some men can acquire
property more rapidly in this way than by
running in debt for farm. For most this
will be the best way
As general rule. it would doubtless be
best for every young man, if he has nothing
to begin with, to work several years at wages
If by that time he has a thousand dollars or
two, he may adopt one of two courses. He
may buy small and fertile piece of land and
work 1t, or he may take larger farm on
shares, and, if possible add to his money
The latter would give him an opportunity
without great risk, of learning what he could
accomplish. In buying land, however. great
care should be exercised to see that he obtains
the value of his money in productive land A
young farmer with a family, some years ago
was ambitious TO own farm of his own and
gave Thousand dollars more for a small
handsome place than it was worth. running
IN debt for nearly the whole. He worked
hard and managed badly. His farm soon be-
came oyergrown with weeds but another
and more fatal growth was springing up al
most unseen by him. namely the growth by
compound interest of the heavy incumbrance
on 1t. year or two ago, il went under four
mortgages, with all that he had so long labor
ed for
Then the question comes up, shall we not
AaaGN 4 l.U.W~ Il. 4
ing Is, there are six of one and half dozen
of the other" There is no place on the
earth which groups together all the adyan-
tages' but they are distributed pretty evenly.
Where land is cheap its products are low
priced and markets distant In long-settled
places and near cities, with their high prices
and ready markets, land also is high. 4 near
neighbor let his fine farm TO a tenant, who
gave him half the products. But the tenant
concluded he had hard bargain, in having
only half of all he worked for so hard and he
told the owner he had concluded to 20 West.
buy cheap farm, and have all he nised.
The owner then made him this offer: Il
will buy of you all you can raise on my farm.
and pay you the same price you would get for
your crops beyond the Mississippi" This
offer delighted the tenant, until he found by
inquiry that the aggregate of the western
prices were not One-half those at the East,
and he concluded TO stay where he was and
save the expenses of removing
And yet some men of robust health and
strong limbs do best by going where land is
cheap, because they are compelled from ne.
cessity to work hard, endure privations. give
up society, and practise rigid economy. If
they worked as hard, and saved as rigidly at
the East, they might do as we'll
In moving West, every man should nc.
quaint himself well with the country and
neighborhood where he is going; its health.
ness, markets, drawbacks and advantages,
aud not plunge into the dark. In making
these remarks for and against the different
courses to adopt, our object has been to eau.
ton young farmers against hasty decisions,
aud to look carefully, and feel their way in
amy change they may make Country GeA-
AsBidR.