News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1890-09-11
The Agricultural Depression.

UrutnIul statements reGafdln9 bne
present agricultural depression that
we give it in full to our readers.
| have not come here to instruct
you in agriculture. Although born
and bred upon alarm, | never learned
the business. l have a farm, but |
doubt if it has paid in thelast two or
three years of depression in agricul-
ture. havenot balanced my books,
not wishing tose a loss. But Ihave
had great pleasure in farming, never
theless, and | take a great interest in
it.
1t has occurred to me that this af-
ternoon | would give youmy opinion
of the present agricultural depres-
sion. If that depression is to con-
tinue the future of our %countryis very
dark. No great industry can be de-
pressed long without other industries
suffering also. 1t is said agriculture
is depressed. | will not dispute that
assertion; and yet | could draw your
attention to facts showing that thirty
and forty years ago the farmers were
not as well-to-do as those of to-day.
The style ofliving to-day isfar in adj
vance of that of that day. But | will
not dispute the assertion that agri-
culture is depressed, in comparison
with other professions. While that's
true of this country, it is also true of
England and other countries. Still,
it is true that agriculture is not re-
ceiving its fair share of the present
profits of trade.
WHAT'S the cause Of the depression?
There is no truer axiom than that
one which says supply and demand
control prices. We have in this coun-
try 65, 900, 600 people. We are pro-
ducing agricultural products suf-
ficient for 100000 people. In
other words, we are producing a sur
plus; and therefore prices rule low.
How does it happen we have seen a
surplus? 1t is because of the vast in
crease of railroads. To-day you can
send wheat cheaper from the Rocky
Mountains to England than you
could formerly from this place to Al
bany. One man in the West can do
with readiness the work formerly
done by five men in the East. The
development of the West opened to
the farmer, lands worth only $1.25 an
acre. The farmer bought these lands
and he has filled the granaries of the
world to repletion. Theresult is that
wheat and corn are low in price. The
opening up of Dakota alone has glut-
ted the wheat markets of the world.
The two Dakotas send $4,000, 900
bushels of wheat to market yearly.
Undoubtedly the cause of the pres
ent depression is that toOmany of us
have gone to farming, and have pro-
duced too much. Some will tell
youthat free trade will cure this, that
protection will cure this, that Gov
eminent control of the railroads will
cure it. Not one nor all these in
f1uences will cure it. Not until supply
and demand are once more nearly
equal for farm products will the pres
ent depression cease. But some will
say that by various laws we can cure
it. Ny friends, that is a delusion. 1t
has been tried again and again, and
failed.
But the condition of thefarmer can
be improved by legislation. For
years we have not had a sufficient
circulation of money. The recent sill
yer legislation provides for an in
of currency of $4,000, 600 a
year. 1t has had the result of raising
the price of wheatin this country and
in India. But we cannot increase
wisely Jul currency beyond a certain
amount. A prodigious imitation
would only lead to wildcat banking.
In my opinion u affairs are going
to be bettered. Our railroad system
will not be further extended. There
are no more Dakotas to open. There
are no countries to come into the
produce market and disturb prices.
We are of course producing more
wheat and corn than we consume.
The average of III wheat produc-
ton, however, is ~lessening. The pop
ulation of our country is increasing
faster than our agricultural products.
If the present rate of increase of pop
ulation continues and if our product
of wheat remains as it is, we shall
raise only enough wheaton the needs
of our own people. An increase of
the price of wheat to $1.25 would
open up new lands. But in my opin-
ion we have reached the minimum
price of wheat. Undoubtedly the
power of the West to produce wheat
is ~lessening. The amount of wheat
they raise per acre is %lessening. Iowa
dairying she has largely gone out of
wheat raising. Corn raising, it is
true, has increased in amount, but it
is equally true that our people have
already seized upon all the profitable
corn producing land of the country.
In the last three years the increase of
corn production has been only one
per cent. Our population has in
creased two or three per cent. | pre-
dict that before the century ends the
farmers of Onondaga County will
raise wheat at a profit.
The raising of cattle in the West
also has reached its maximum. If,
therefore, you take the increase IN
population and compare it with our
production of farm products, you will
find that we will soon have a home
market for all our own farm pro-
ducts. The railroads have undoubt-
eddy caused a large depreciation in
the value of your farms. But / be-
lieve that you have reached the mini
mum point in the depreciation in the
value of your lands, and that your
lands are going to increase in value
h~enceforth. In five years that in
crease in value, | believe, will come to
you.
A few years ago | advised my farm
er friends to be frugal, economical
and Industrious. | was in politics
then, and my political opponents inn
mediately made a point against me
for that remark. Not being in poll
tics now, and not seeking any office
at your hands, / can say that | still
stand by that remark. / believe that
the farmer would profit by it if he
were frugal and economical.
There is a good deal said about the
farmer in politics just now and poll
tics in the farmer. | can see no harm
inthese oranges, farmers leagues and
alliances. There is this to be remem-
bered, however, that our forefathers
were opposed to class legislation.
There is no reason for a railroad
party, for a labor party, or for a
farmers party. No political party
with one idea only could exist a veal
in this country. Our people are op-
posed to class parties. My advice to