Brenham weekly banner. [volume] (Brenham, Tex.) 1877-1907, 1880-09-02

lbrToR RURAL WORLD: One
|of the worst evils farmers, and
especially western farmers, have
to contend with, is paying inter-
est. Very few calculate how
much it cost them every year.
They buy a farm and pay prob
ably one-third or one-half down
and give a note secured by
deed Of trust on the place, due,
perhaps in FIVE years for the bal
ance; they probably have stock
enough to run it. but they have
to buy machinery to work it.
Now to buy one hundred acres
of fair improved land with mod
crate improvements will cost
$4,000. Allow him to pay one
half down, he then pays inter-
est on the other 81 900 at s per
cent, or 500 a year; then he
must own sulky pillow, a grain
drill, harrow. roller, walking
plows, corn plows, wagon, hay
rake and self binder; these will
cost him at least $500, most Of
which he can readily buy on
credit, especially if he does not
grumble at the interest he has
got to pay. This makes $500
interest he has got to pay, al
lowing nothing for the wear and
tear of the machinery, which
in reality will double the rate
of the machinery. Now he has
got to live and pay his taxes.
Well. you say, What, that
$500 a year is not much, on a
farm of 100 acres" OF course
it is not much, but it is So an
acre for every acre of your land.
1t is just like a cancer it is
small at first, but it keeps eating
away, and almost before you
are aware you are hopelessly
involved. A bad crop one year
and you miss paying the inter-
est. Gall right" says the trus-
tee; 'iust compound the inter-
est and let it 60" He knows
he is safe and he is sure of either
his money or the land at three
fosrths its value. Anotherye
rolls round and something else
is wrong, and you are behind
again. This time the agent, or
the man who loaned you the
money, seems to like being put
off very well, and you get mad
at him for wanting his interest,
but determined if possible to
have it next time. So at it you
90. You work hard and try to
save all you can, but it has al
ready got the best of you. Ev-
seems to go wrong, and
when the time for the interest to
De paid comes due, you have
not got the money. The man
will not wait any longer. Your
place is advertised for sale, and
you have lost all you have paid, |
md are again even worse off |
han when you began.
How many times have we |
zen this done. How many |
lines a man has worked hard to |
ave enough to pay part on a
arm and then let the interest
axe all he had. We have
,nown farmers who were con-
idered we'll off, borrow two or
hree thousand. dollars for some
and at the end of four
II FIVE years be forced to sell
nut in order to save a little.
We have heard such men say,
Why, what is one or two hun
red dollars a years INTEREST," |
an pay it easily enough" But
&c have seen these same farm
rs forced to sell their homes
imply because they got behind
nth their interest, and the prin-
ipal and interest all had to be
aid. and their hard earned pro-
erty had to go to pay it. Keep
ut of debt. Don't buy ma
hinery and land that you can
long without, simply because
ou can get it on time, or before
on know it the interest will
orce you to either give up or sell
our home save yourself from
Iir financially.