The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1881-06-17

This club met on Saturday, June llth, at the
| farm of MIR. X. John Rogers, near Fountain Green.
| All the active members were present, together
| with Messrs. Otho 5. Lee, w. w. Cashier and r.
| f. SwarH
Messrs. John Moores, A. NJ. Fulford and VIM
| +. Hays were appointed as n committee to make
| the customary inspection of the farm and prem
ises. That duty accomplished, upon the re- assem-
| bling of the club Mr.. Moores said that it looked
| like presumption to criticize the farming of Mr..
Rogers. The reports had generally been so favor
| able that the public might conclude that the club
| had gotten to be Il sort of mutual admiration
| society. He did not consider, however, that any
| of the reports had gone too far in the matter Of
praise, and certainly they could not do so in the
| case of Mr.. Rogers. He is regarded as pattern
farmer. lie keeps everything around him in
money out of it, He had bought and paid for his
| farm twice. He earned it by his work before his
fathers death and bought and paid for ii after
wards. This fact should encourage younger far
| mers some of whom never pay for their farms
once. Here you see no fancy farming, but every
thing farmer ought to have. The wheat and
grass fine. The latter is too good and will be
difficult to save. His horses are in admirable con-
dition, and his - stock cattle are thrifty and look
| well. Mr.. Rogers farms with fewer horses than
any farmer he knows. When Mr.. Rogers bought
the place it was called u small farm, but, Judging
from the crops raised, it is the biggest farm in the
| Reghborhood. Mr.. Rogers has made consdera-
bic improvements to his house, since the club last
met here and there is now not building on the
| place that was here when he bought il. He has
| l4O acres of land in the home place, 40 of which
| are in wood.
Mr.. Fulford remarked that the chairman had
gone over the subject thoroughly and said he had
had his eye on Mr.. Rogers farm for number Of
years and had noted the many improvements.
| The subject appointed for discussion was: SIS
Il low rate of interest of benefit to the commune
typ
Mr. Rogers said ii was natural for man to invest
| his money where he could make the most out of
| it. When interest is high hardly any man will
INC IN because be
| there is greater probability of money be-
ing invested in manufacturing and other useful
| enterprises. There is not an establishment in
| Hartford county where farming implements are
manufactured even good repair shop-and
| he could not account for this except by the high
| rate of interest here. If interest were low the
probabilities are that would engage in
| manufacturing enterprises of that kind in the
| W. W. Cashier said Mr.. Rogers had expressed
| his views better than he himself could.
Thomas Lochary thought the most useful men
we have in the county are the borrowers Those
| who loan money, unless at low or reasonable
rate, as general thing, are not of much use to
| the county.
| VIM. Mnnnikhuysen said Mr.. Lochary had ex-
| pressed his opinion. The man who borrows
money t generally puts it In some ONE, Improvement
A. NJ. Fulford said the subject was profound
| financial one, but he thought Mr.. Rogers struck
| the point of the discussion when he said that
| where money can be borrowed at low rate per-
sons are more apt to start new branches of bust
ness beneficial to the &C. community; low rate of
are not able to put IL to good USE If times are
flush and we borrow money, even at q high rate,
we can make more money out of 1T The rate of
interest is ruled by the prosperity of the country
| Il. Harris Archer said this question has batiled
fnanciers for years and was likely to battle the
| Farmers Club. A low rate of interest prevails
| now, but he had doubts If that is sign of pros
| perity. Why is money so lowP Because there Is
] so much of il lying idle in the banks. Why is 1t
| idle in the banksf Because there is no place to
put it. If times were stirring there would be OPP
| poruunities for investment. As to the question
| itself he would say, that to farmers low rate of
interest is of advantage, because ten times more
| farmers are borrowers than lenders. He doubted
however, If 1t is of advantage to the community
| at large.
James Lee could not say he was in favor of
| low rate. II Is a matter, however, that adapts
| itself to circumstances When things are brisk
| pay a high rate than when times are dull. He
| would rather see brisk times and high rate of
| interest
| Johns II. Jannoy said he would have to side
with the majority. He did not believe in arbitra-
ry rates of interest bpt<2he matter should be al
lowed to settle itself. - did not believe II good
for interest to he too low, that tends TO keep
capital away. In the West, where interest is
high, capital seeks Investments, and the conse-
quenco is that railroads are built and other public
enterprises carried on.
$. Is. Silver was in favor of n low rate of inter
est, to certain extent because he has to borrow
more than he has to lend.
John Moores Ia in favor of a low rate. low
rate of interest means good crops and high rate
poor crops II is the large crops of wheat, corn
and tobacco shipped to Europe and the money
interest low. He did not think per cent. too
low since that has been about the rate in England
for some time As an evidence of the result of
good crops, more fine houses are now building in
Hartford county than ever before. Instead of
houses costing "A 600 or 5000, you now see them