The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1888-10-16

exigencies of the people of the West
ern and Southern States, and 1t never
aoas, as manifestly appears from the
subjoined synopsis taken from a recent
"Report of the Comptroller of the
Currency" showing the unequal dis
tribution of money under this system.
In the six New England States COM
prising
Maine, which has a circulation a~verging per
New Hampshire, which has a circulation
averaging per capita. ........... 1879
Vermont, which has a circulation averaging ..
| Massachusetts, which has a circulation
| Rhode Island. which has q circulation
connicsicat which has = circulation aver
with an estimated population therein
on June LIST, 1887, aggregating 4,449,-
800, we find money plentiful and the
"market easy" for the reason that
government bonds are owned to a
considerable extent by capitalists and
money lenders in those six States, and
these bonds are the basis of the circu-
lation Of National Bank Notes.
In the seven populous Western
States comprising yr
Kansas, which has q National Bank circula-
ton averaging. per capita. :......-:.... 5 1884
Illinois, which has a National Bank circu-
lstion a Ss;ag g. per capita pant c,,cn 1854
1ation averaging. per capita. .......... 1887
Iowa, which has a National Bank circula-
ton averaging, per capita. ....... 1927
Michigan, which has q National Bank cir
l culatiOn AVERAGING. Der CaDita $3.50
Wisconsin, which has a National Bank cir
oS SIlat Wbie sSYe55a Rag y Napt ar q eaPl sank circula. 1914
ton averaging. per capita 33.14
with an estimated population therein
on June lst, 1887, aggregating 49,
467,400, we DO not find money so
plentiful and the "market easy" and
in. the six large populous Southern.
States, beginning the enumeration
with the "empire State Of the South" "
and comprising .
Georgia, which has a National Bank circu-
Alabama, which has a National Bank circu- r
u iasIo1 ayer s . per per ea RRnt;ons, Rank cir III
| Texas, which has a National Bank circula-
Ar ss q axsr %RieEi R 6as caP National Bank cir "'S4
culation averaging, per capita. ........... 1856
and North Carolina, which has a Ma
tional Bank circulation averaging, per
capita, 1898, with an estimated popu-
lation therein on June LIST, 1887, ag-
gregating 1900, 200, which is more
han double that of the six New Eng.
land States, we find the quantity Of
money SO small as to approximate
restitution. Here additional proof is
presented to show the unequal dis
tribution of. the currency under the
National Banking system, and with it
some of the causes are discovered
which for nearly a quarter of a CEN
fury have been at work to impoverish
our people. And as we turn again to
view the "Great West" we are con
fronted with these startling facts and
figures, collected by Granger Associa-
tions and printed in farm journals ex-
hibiting the woful condition of the
farmers in those sever Western States
to which reference has been made. In
1885 the assessed valuation of prop
erty in those States and the amount
of mortgages on the farms in the same
States are shown to be as follows:
In Kansas, assessed valuation of prop
In Illinois, assessed valuation OF prop
In Indiana, assessed valuation of prop
rty. OBSERVATION-DISCLOSURES. ......... 7ss,OOo,OOO
rty. 625, 100000
In Wisconsin, assessed valuation OF
In Ohio, assessed valuation Of properly ISL, 100000
Total. s5.514,5 5000
The amounts of mortgages on the E-sE'
farms in Kansas ......-.......:. 2a5,OOO,OO
The amounts of mortgages on the
farms in Illinois -. ...s............ 1000, 900
The amounts of mortgages on the
farms in observation-disclosures. ea5, 600, 900
The amounts of mortgages on the
farms in Iowa. 567,OOO,OOO
The amounts Of mortgages on the
farms in Ohio. ........ so.......... 1.ag7,ooo.ooo
farms In Michigan. ............... 5OO,O 900, 600
The amounts OF mortgages on the
farms in Wisconsin a57, 100000
Total 5 4.521, ooo,O 900
The statistics show the total assessed
valuation of property to be $5,5l4,-
500, 900, and the total amount of in.
d~ebtedness secured by mortgages upon
the farms in those States to be $4,52l,-
900 900, from which it will be seer
that the mortgage debts cover about
four-ffths of the assessed value of the
farms and the bulk of these mortgages
is held and owned by money-lending
manufacturers and other capitalists
in the Eastern States, who receive
nothing less than from 6 to 8 per
cent. interest on this vast principal.
The statistics further show that
TWENTY-FIVE wears ago farm mortpapes