The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1886-05-12
agricultural.
T. n. HOSKlNS, M. D., Editor,
Newport, Vermont.
LandlOrdism in America.

views are having a good deal to say on
the subject of landlordism, and the
records of several capitalists, mostly
foreigners, who have attempted the es-
tablishment of landed estates in the
West are severely commented on.
Landlordism is not a new thing in.
America. Indeed it was established
in many places on the first settle
ment, and the anti-rent conflict on the
PATRON estates in New York is within
the memory of many still living. The
spirit of the American people is against
landlordism, and if it should ever sue
coed in getting a foothold here it is
thought that the present Knights of
Labor disturbances would appear trifling
in comparison with the trouble that
would arise among tenant farmers the
moment that rents should begin to be
felt as oppressive among them.
Yet landlordsm is perfectly legal,
and there is nothing in our institutions
which would prevent large capitalist
from coming to-day into Vermont and
buying a hundred farms with the pur-
pose of holding them for rental as
means of permanent income for him
self and his posterity. Indeed, we very
much doubt whether such man would
not be popular. There are great
many farms for sale in every town, and
a cash investor in real estate would APP
pear as blessing to hundreds of en-
barrassed farmers who are waiting and
longing for some one to release them
from their bondage to mortgages The
truth is that landlordism already exists,
and has always existed, here in the
modified form it exhibits in that rela-
tionship which obtains between bor-
rover and lender upon land mortgages.
This is probably the very worst form
in which it can exist, because it tends
towards the greatest waste in the de-
cay of buildings and the impairment of
the land. And yet there has never been
any rebellion, and scarcely any MUIR
muring against system so old, and APP
parently so necessary. Nevertheless
the interest on a farm mortgage is, as
we say, the worst form for both parties
which the rent of land can assume.
There is no one who thinks at all who
cannot see that change in this rela-
tionship which would cause an increase
of interest, with both parties, in the
improvement of land, would at least be
better for the country, if not for the in
dividuals concerned.
But we see no evidence, at present,
that there is any tendency toward the
investment of money in this direction,
Notwithstanding the low rates of inter-
est and the great accumulations of capt.
tai in our business centers, much of
which is lying idle. Money goes freely
into railroads, manufacturing and trad
ing, but not one of our rich men seems
even to think of such a thing as putting
money into farms as an investment,
otherwise than upon mortgage. This
fact is manifest, yet we have never seen
the least attempt to explain it. And
yet the reason for it lies very close to
the surface-so close that in our eXpe-
rience single question addressed to
capitalist will generally bring it out.
We have asked that question of great
many, and have every time got the
same reply. "You say you have got
$4,000 in bank which you cannot find
use for: why not buy up twenty-five of
these New England farms with build
ings on them costing $4,000 and up
wards which are offered for sale at less
than the cost of the buildings?" " Be-
cause there are no tenants to be had
who know enough about farming to
support themselves and pay any rent if
l should do So"
1t all comes to this, then-that the
efforts being put forth to improve our
agriculture and develop class of skilled
farmers tends directly towards landlord
ism here in New England. The only
apparent barrier which we have against
landlordism is the incompetency of our
farmers. Give us skilled farmers, with
money sufficient to stock good farm,
and capital would flow at once into farm
property as permanent investment for
income. 1t really staggers us a little
when we think of this. Our ideal for
American agriculture is to see every
man owning his own farm and stock,
free and clear. But how far, how very
far is the country from that ideal!
There is no chance for choice between
it and anything else, if we could have
it. But if it can never be realized
would not landlordism, established
upon just basis, a reasonable alliance
between capital and labor, be far better
than the present mortgage system?
In England the landlords have been
Landlords !" in every sense-the hered-
itary Lawmakers of the land-and
they have always fixed the conditions
of leases to their own advantage. But