The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1890-05-01
" offhinxton Advances
FARN MORTGAGES.

n ySVeO V0SS ~ UAOS0oS 0SVOASOB u0o
bsen made q thspspers Of late, In re-
gard 20 the Membranes resting on
farms In tho western States, and IN.
1eysaessof. . dtscouTaging sort arc be-
Ing drawn from the 6gures displayed.
After admitting that many people en-
cumber their farms unwfsely, and meet
with disaster because Of their lack Of
wisdom In that respect. still tho use
made ;ot these statistics II not at all
warranted. Tho croakers insist that
this mortgage Indebtedness indicates
IN unfortunate condition Of tho farm
srs - Z. class. That depends o., cir
cumstAgces. It may indicate great
amount Of enterprise. growth, increase
OF values, and moro general progress
and prosperity. Money may be wisely
borrowed asd probably used BY farm
-, ~ o ths1 business neA.
We ce1lulapl thsattentional thought,
t1fuso sihl ollowiue sxtisct from
= ,Wty ahts speech recently made In
tho United states senate BY Senator
Dolph,; of Oregon, bearing on this
point:
"A great deal has been said on this
floor aud elsewhere about farm mort.
cages, ard 1t appears to be thought by
some that IL che number Of farm mort
kagss 10 large In any state or Territory
i Indicates IN unfortunate condition
6( the farmer. But not ring is farther
HON tho truth. Nothing can be abso-
lutoly predicated ~ to the prosperity or
lack OF prosperity of the farmers Of .
community from the existence OF non
existence Of farm mortgages. The in-
ference to be drawn from the number
Of mortesges In ~ old, settled country
like ono OF the New England States,
might b very different from the infer
snce 10 be drawn from tho same thing
In . newer community. ln = now State
= jsras number Ut farm mortgages may
indicate great prosperity, may repre-.
seat cultivated and productive farms
and comfortable homes, whore. with
out tho ability TO borrow, there would
have been. . waste and unprOductlve
area. They may have teen the means
By which day laborers on the farm have
been converted into prosperous farm
ers on their own account. In many
cases they represent additional lands,
purchased on credit, which are a source
Ol increased prosperity, and so =
blessing.
I'm the State I have the honor in
part to represent can remem6er when
IN tue beautiful and fertile Willamette
Vxlley, most of tho original claimants
still owned and occupied their dOna-
tiou claims Of go acres free from mort
gage, aud. when many Of tho claims
did not exen furnish tho agricultural
productions necessary for the support
Of their families. But another gener-
alton grew up. Enterprising young
mon, without means, from nearly every
State of tho Union, went to that State,
bought lands on credit, gave mortgages
for tho purchase price, began to raise
from 10: to 60 bushels Of wheat to tie
acre, md tn probably .forty-nine casr"
ont at fifty have paid of the MORTGAGES
aud have become. wealthy aid prosl'er-
ous farmers.
"MOrtRages are only necessarily an
indication of q want Of prosperity of
tho farming class when they represent
indebtedness for living expenses or
losses in conducting business; and such
cases a:o ~ likely to be the result OF
extrxyagance and bad management a.
poor crops and low prices"
senator D0lph presents common
sense view Of this matter. There 10 no
necessary cause of alarm IN the figures
which alarmists, with sinister and par
tisan objects in view. are trying to
c1o2t0.