The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-01-15
FOR THE FARMERS.


implement firm in this city, the other
day, should strike terror to the hearts
OF the farmers throughout the Territory;
if it does not strike their farms, bins
and houses with disaster they may con-
slider themselves most fortunate. 1t IS
stated that the firm in question holds
the promissory notes of farmers and
others to the extent of about $l25,OOO,
in amounts ranging perhaps from $50
to $500. With few exceptions these are
overdue, and subject to forced collec-
ton. We do not know what course the
assignee will pursue in the premises,
whether he will be lenient and
patient as the falling firm has
been,- or viii press the debtors
for payment. Should the latter policy
be followed, the trouble and disaster
that would necessarily fall upon the
signers of the notes would be terrible,
amounting in some instances TO COM
plete financial ruin, in most cases to
| heavy sacrifice. Ordinarily these notes
would have been met and taken up when
they fell due, but the absence of a
market for grain, and the high railroad
rates which prevented the movement of
farm products, have made it utterly inn
possible for the farmers to obtain
money. With full bins they find them
selves in a worse predicament financially
than ever before, and nothing that
promises relief appears in sight; they
are simply unable to help themselves,
and seemingly no helps within reach.
1t is hoped that the assignee will CON
slider the circumstances and situation in
making up his mind as to what he will
do in the premises.
But the lesson in this affair should be
lasting with Utah farmers. Four-fifths,
or perhaps a higher percentage of the
wagons and agricultural implements
sold in this Territory are paid for with
promissory notes running from two to
twelve months Agents and 'drum-
mers" find it much easier to dispose of
their wares when they do not demand
money, and farmers buy for notes when
they would not pay cash. and also buy
what they could get along without The
sellers know that their notes will be
paid with interest, but the buyers do not
at the time more than half realize this
fact The latter, however, soon fully
and painfully understand what the for
mer were familiar with all the time, FOR
the months fly swiftly-so swiftly
In fact that the article purchasedis used
up by the time the note given in pay
ment for it comes due. The farmers
buy on time entirely too much; they
purchase more plowS, wagons, reapers
mowers, harrows, etc., than they can
afford to own, more in fact than they
need, and they buy without due thought
of the probabilities and possibilities of
the future. Good crops and a fair
market help them out of the difficulty
into which their thoughtlessnesS has
plunged them, but with what degree of
certainty can they count on these
things2 A bad year brings them to the
verge of ruin, and too such years in
succession are fatal to the success and
prosperity of many poor fellows who
have unwisely overreached them
selves. 1t is said by those
who should know the facts that
the agricultural implement dealers have
claims upon the people of the Territory
which it would bankrupt tie commun-
ity to meet and satisfy.
The farmer should understand when
he puts his name to a note that he will
have to pay the money when it becomes
due, and before signing he ought to
know that he Will be able to meet the
obligation without distressing himself.
If he will be wise in this matter he will
be able to withstand the solicitations OF
the talkative agents, and will save him
self a good deal of distress. He may
have fewer labor-saving machines, and
his wagons will not be so new and
pretty, but his sleep will be sweeter, and
his peace of mind less disturbed.