New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-11
a ERE TRADE FIB.

Nature and Science both forbid attempts TO
stand pyramid or stceple on its apex. The
thing is liable to tumble. Folgctful of this
principle, a frcc-tradc writer builds an "estl-
mate" of farm mortgages in all the States upon
an investigation in one State. showing that half
the farms in number are mortgagcd but not
showing for how much, and upon his private
guess that the farms are morgagcd for 40 per
cent more than their assessed valuation In
1880 1t would seem absurd to waste words
upon such crazy guesses, were not this very
same worthless OBSTINATE" sure TO be quoted
soon by Free Traders as "proof by statistics
that the farmers in ten States have actually
spent more than they have earned by S3,422,-
100000, the amount to which their farms are
mortgagedn That the statistics" are built
upon one mans guess that his guess about one
State is good also for nine others, no Free
Trader will mention.
The last annual report sent out by Commits
sioner Colman, of the Department of Agri-
culture, who happens to be himself Jealous
frec-tradc Democrat, contains accounts COL
lccted from the agents of the Department in
The different States regarding the Indebtedness
of farmers. This part Of the report begins in
these words:
There are now about 1000. 900 owncrs OF farms. A
million of new farms have been acquired since 1880
Many of the 100000 then In cultivation have since
changed hands. Hundreds Of thousands OF those are
owned by young men, and Others who never before
filed lands Of their own and who began husbandry
with small means lttlo more than health. energy and
determination to succeed. Necessarily indebtedness
has been incurred in many OF these cases, I'm pur-
chasing old fa ms, in stocking farms already paid for
or in buiIdinp lands nh aIn
the Government under the homestead act.
The Indebtedness thus created in buyDg
farms from which former owners retired
or in building, fencing and making other i'm
provements on farms, constitutes by far the
greater pant OF all farm Indebtedness existing
Not dollar OF the sums thus borrowed repre-
scnts anybody loss in the business Of farming
Nor is there any evidence that an appreciable
part Of any indebtedness existing represents
such loss. The State agents report that mott
cages of all kinds cover only 80 to so per cent
of the farms, and are for only one-thrd to two
thirds of their cash value. Assuming that on
the whole four farms out of ten are mortgagcd
and on the average for half their value, it
would follow that farm Indebtedness of all
kinds. mainly arising from the purchases OF
farms, stocks or the making of Improvements,
amounts to $40 on 500 of their entire value.
II this is but guess it is. at all events guess
based not upon one mans guess about his
other gucsses. but upon considerable informa-
ton collected by the Agricultural Bureau.
which. moreover, reports that farm indebted
hess has been largely diminished during the
past ten years. If this official report, from
Democratic and free trade source. is as correct
as there is every reason to suppose it. the re-
duction of Indebtedness proves that the far
mers as a whole have not been spending more
than they have received. but have earned and