Savannah courier. (Savannah, Tenn.) 1885-1979, 1886-02-04
GET OUT OF DEBT.
The Uncomfortable Position In Whicl
Western Farmers Find Themselves.

The Uncomfortable Position In Which
Western Farmers Find Themselves.
A New England farmer who has
been spending some time among the
farmers of the Western States and Ter
ritOries reports as one of the results of
his observation that he found them al
most without exception to b dept.
As rule they bought everything on
credit. They had running accounts
with the grocer, the dealer in dry
goods, the seller of agricultural imple-
ments, the blacksmith and the carpen-
ter. Not unfrequently their wives were
paying for sewing-machines, and some
times musical instruments, ON the in
stallmcnt plan. Many farmers agree
to pay their hired help and to settle
with merchants after harvest. With
the low price of grain and most other
farm products, however, they are not
able to do this. After selling all the
crops they can part with and disposing
of some fat stock they will find them
sclNcS Ill ucUt db tuo COiuincuCciiCHp
of new year. Not unfrequently they
are obliged to borrow money at high
rate of interest for the purpose of pay
ing their taxes in the spring. Some
times, however, they dispose of young
stock at a sacrifice in order to meet the
demands of the tax collector. This OBJ
server comes to the conclusion that the
usual condition of the farmers in the
Territories and new Western States
was to be in debt. They commence to
get in debt as soon as they move on
their places, and as often as they dis
charge one set of obligations they con-
tract some more.
This is very unfortunate state of
affairs, but that it is general in many
parts of the West is not to be ques-
toned. The habit of getting in debt
is not easily broken off. Once con-
tracted and continued for q series of
years, it is likely to be kept up indefin-
itely. Few farmers succeed in pro-
ducing as large crops as they antici-
pate, and they ordinarily expect higher
prices than they obtain. The occur
ence of fire, tornado, protracted
drought, an early frost, visitation of
destructive insects contagious disease
among farm animals or sickness in
the family upsets all the calculations
made for getting out OF debt. More
obligations are incurred and the labor
of years is required TO discharge them.
A man constantly harrassed by debts is
in no condition to enjoy life. He can
have but few pleasures. He is at the
mercy of every person he deals with
He must take goods at the price de-
manded for them, though it may seem
to he exorbitant. Traders who sell
articles on credit are obliged to charge
high prices. They assume risks, place
their own credit in jeopardy, and are
often put to great inconvenience IN the
management of their business. They
would prefer to sell goods for much
smaller profit provided they could re-
ceive cash for them. The high prices
for almost every article bought in the
country are chiefly due to the credit
system which generally prevails.
Now is good time to form plans for
getting out Of debt and for keeping out.
1t may be necessary to resort TO heroic
measures to accomplish this, but it is
best to resort to them after all. A res
olution to contract no new debts is the
first step necessary to climbing up out
of the degraded position in which SO
many find themselves. The effort is
clearly worth making. Observation
shows that the successful farmer is or
dinarily the one who has ready money
wherewith TO buy stock and tools when
they are offered for less than their
value for the purpose of securing cash.
He buys all his goods much cheaper
than the man who gets trusted fol-
them. He enjoys them better after he
has obtained them. The credit system,
which has become general among farm
ers in many parts of the West, has pre-
vented them from getting much enjoy.
ment out of their common life. For
many years previous to the commence
ment of the civil war the condition OF
the farmers in the South was poor, not
withstanding the fact that they raised
good crops and received high prices
for them. The credit system stood in
the way of their prosperity. They
worked one year to pay the debts con-
tracted the previous season. As a rule
they were year behind in all transac-
tons involving the payment of money.
Chicago Times.