The Republican. [volume] (Oakland, Md.) 1877-current, 1885-05-02
Going in Debt.

UU1uS Ill D6UG'
The worst mistake the farmer
makes, especially at the start, is 60
ing too heavily in debt. 1t seems
that on this point farmers are not
willing to take experience of others.
Although they need but to look
around them to see the mistakes 9TH
ers have made in this particular,
though they have been warned time
and again by their best friends, the
agricultural press, yet they seem to
think they will fare better than others
have done. They do not take into
account the very many things that
may come to pass which will be
against them. In short, they will not
take the experience of others as a
guide in this matter, and only a Bit
ter personal experience will teach
them the lesson and even then it is
somewhat difficult for them TO ap.
preciate fully the true case, but they
often imagine that other things were
the prime cause, and going in debt
only the secondary one of their fail
ure,
The great trouble is that "time
waits for no man" Hot or cold, wet
or dry, whether the seasons and crops
are good or bad, pay day is sure to
come, and sometimes when man is
sorely pressed time seems to fly.
A man comes along with new ma
chine of some kind to sell. He is a
good talker and will give the farmer
six months or year to pay it in. II
can surely make that much money in
that time" thinks the farmer. and
the purchase is made. AlmOst'before
the farmer is aware of it the time has
gone and the note is due. The farmer
has not the money and the note be-
gins to draw interest.
| know of a farmer who was once
in good circumstances, He got in
debt little at the stores for different
articles for his family. He bought
several articles of farm machinery on
credit, expecting to pay out of his
wheat crop. That year wheat was a
failure. So far his farm was clear and
we'll stocked, he had plenty and could
have got along without going in debt
dollar, by simply eCOnomizing a
little, but the debts had been made
and when the time of payment came
he had no money. Then he thought,
"Well, [ can borrow a thousand dol
lars on my farm and pay off all these
little debts, and have something left
over to live on next year until can
make crop. | can get the money
for five years at ten per cent, and
one hundred dollars is not very much
for me to make on my farm and l
can easily pay the interest.
SO the money was borrowed and
the mortgage given.
At the end of the first year every
thing seemed to have gone wrong
and he could not pay the interest.
Never mind" said the creditor
"the note is a compound interest one
and as long as | am safe | will watt
This was easy enough. Next veal
he would be more careful, and would
surely pay up.
But his crops failed to come up tC
what he had expected. He had gone
in debt at the stores, the blacksmith
shop and at other places. These Iner
wanted their money, while the mar
that held the mortgage would wait
At the end of four years there still
stood the mortgage, no interest paid
and the amount growing larger every
day. To him there seemed but Ont
course, and that was to save himsel
while he could. He sold the farm fo
all it would bring and went West t
make new start. Going in debt wa'
a bitter lesson to him, but he learned
by experience.