Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1889-09-06

the future almost beyond conception, yet I
must say that notwithstanding this and
after all my pleasant experiences there, a
careful observation Of the actual condition
If farms in several of the great states pre-
SCENTS a dark side to the picture, and ! am
forced t1 love New England still aud to re
gard her farmers as patterns Of frugality
and neatness in comparison with those of
any other section Of the country which it
has been my pleasure to visit, and am un
able TO see how the average New England
! farmer can gain anything 10y selling his
property here Mt great sacrifice and 60
| ing West am well aware that at the
| present time in certain circles it is decided
| ~ popular ~ belittle New England and to
speak and write disparagingly Of her agri-
cultural resources and her rural population,
and at the same time to grow enthusiastic
over the West and South. 1t is true that
farming interests are depressed in New
England. but it is equally true that a sim
liar depression exists in all parts of the
country.
1t is also true that there are deserted
farms in New England and in some sec
tons their number has steadily increased
during the past three or four years, and
the shrinkage Of value in farm property in
these and other sections has been very
great In looking about for causes which
age, it is not difficult to conceive that ut
terances like the above and the continued
booming of sections and towns in the
West and South, have had a marked inilu-
ence in this direction. Western mortgages,
western and southern "boomsn have made
an enormous drain upon the surplus capital
Of New England. Many moneyed men
and others who had only a small amount of
surplus capital have gone crazy over
western booms and investments aud over
the Fort Payne, Dennison and Muncie
booms, and in calling in their capital in
vested in real estate here to reinvest else
where, they have been obliged to foreclose
upon hundreds Of farms, which have conse-
quently been deserted or sold for mere
nominal sum The withdrawal Of so much
capital, and as result the forced deser-
tions and sales have, had a tendency to de
preciate the value Of all farm lands to
make them drug in the market, and rem
der it difficult to secure even small loan
ON farm property On the other hand. a
banker in northern Illinois stated to the
writer last fall that he could at any time
command an unlimited amount Of New
England capital to he loaned on farm mort.
cages in his section.
To Illustrate the great change from east
ern to western mortgages | need cite only
single case, and that Of Vermont mon.
eyed institution which has during the pas,
four years changed nearly 5000, 600 invest.
ed in eastern mortgages to western Blooms
exodus of New England capital and New
England brains with it continues it will Sc
riously embarrass, not only farming inter
ests, but all other interests as well and il
seems to me that it is time that the pres,
and our leading, home-loving, loyal citizen,
should unite in their efforts TO stem the out
ward tide of capital and brains, and keeI
them in New England where they are need
ed and can be utilized with profit to the in
dividual and for the general welfare of til,
community.
Something has been done in this dircc
ton in Maine and Vermont, but the i'm
| portance of the change which is taking
place, and its bearing upon the future pros
| perlty Of this section of the country, re
ceiyes but comparatively little attention
1t needs no formidable array Of figures t
show that a vast amount of surplus capita
has been accumulated here during the past
and that it is now being diverted from it,
proper channels to build up the cities, towns
and farming interests of the West. Tn,
abundance Of this accumulation in the pas
is most conclusive proof that, aside from
her manufacturing interests, New England
is not a back pasture of production, bu
that she has great capabilities, and witt
her yet undeveloped resources can contiu
ne these accumulations for all time, if
reasonable amount of her surplus capital il
used within her borders.
In justice to Mr., Messer and his intelli
| gent interest in this subject it should b,
said that his article was written and print
ed some weeks before Vermont farms anc
farming became topic of general discus
sion under the lead of Commissioner Val
entine's Swedish colonization scheme. Ed