The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-04-29

GQ6 paSG L0u years Guo l. UHO
towns and cities of that State had in
creased in value $50, 600, 600, while
in the agricultural districts it had de-
creased $50, 900, 900.
From this State, great in resources
and enterprise, let US turn to its peer
in the Northwest:
All mortgages and totals of indebtect edness, prin-
ctpal and interest.
1ssO-Lands $I12,367,O54
t Sa.tei;..:. 1 is'StS, 4s8
Total . S2OL,461,8 1874
....... $147, 89o,O64
kSisto:. $50 30 ' 3S4 81
CnaCCelS 1900. OBSERVATION-DISCLOSURES S%;oOt,4Ot
Total. .............. S416,8 9,O68
An increase of this class of indebt-
edness in seven years Of $2ll,9l7,-
1874, or lO3 per cent.
On land alone the increase of indebt-
edness in seven years was $44,953,-
600, or 40 per cent.
According to the report of Hon. j.
R. Dodge, the surplus of the corn and
wheat crops over home consumption
for the last year was
Bushels. Value.
Conn.,. ........... 64,781, $50 $14, $685. $50
Wheat................... 3~O,9O7,7OO 1~4,635,3sA
If every bushel of surplus orn and
wheat of last years crop yer applied
to the mortgage indebtedness in 1887,
on the farm lands of the State, there
would still remain $117, 1874, 977 to be
paid out Of other crops or earnings.
Or, after applying every bushel of the
surplus to the mortgage Indebtedness
of 1887 on lands, lots, and chattels,
there would still remain 1886, 843, 99l
unpaid. Or, applying every bushel
of the surplus wheat and corn to the
interest for one year, at 8 per cent,
on the mortgage Indebtedness, there
would still remain unpaid of interest
S3,875,25O OF this mortgage indebt.
edness, non-residents and building and
loan associations hold claims to the
amount of 500, 355, $50, or over double
the amount of the surplus corn and
wheat.
The increase in mortgage indebted
ness on lands for loans from 1870 to
1880 was q per cent, and from 1880
to 1887 it was % per cent.
The great State of Pennsylvania is
not exempt from the general depres-
sion which has been indicated by the
cases before cited. In Lancaster
county, the largest in agricultural
products # any county in the United
States, t te farmers are feeling most
keenlyt the pressure. From one of the
leading attorneys of Lancaster I Oh
tain the following statement: 1.-THE
assessed valuation of all the real estate
of Lancaster county, including city,
town, and farm property; is about
$4,000, 900. The amount of indebt.
edness on this property is about $685.
OOO, DOC. The depreciation in farm
values in the past ten years in Ian
caster county is fully 40 per cent,
and still decreasing"
Recently one Of the assessors for
the State of New York reported to
the New York Tribune that he had
visited fourteen counties in one of its
finest agricultural districts, and that
while city property is advancing farm
property is growing less and less
valuable.
Why multiply proofs? The de-
preston is widespread and universal.
In a somewhat elaborate p~resenta.
ton of agricultural depression and
its causes in his March report, Hon.
J. R. Dodge, agricultural statistician,
says: "Diversiication is essential to
agricultural salvation" That is, to Sc.
cure reasonable reward for labor and
investment, the farmers should cult
vate a greater variety of crops. To
arrest the do wnward tendency in the
market values of crops and to re.
store the values of lands, a greater
effort should be made to meet all the
demands for all kinds of food prod.
ucts. Has this system been tried, and
has it failed =? Let US see. Take
the energetic and enterprising State
of Michigan, than which no State in
the Union, perhaps, has a broader
system of diversified farming. Its
whole surface is dotted with thriving
villages, towns and cities, and the
farmers have easy access to large
outside markets. The State Labor
Bureau of Statistics reports that the
farms OF that State are mortgaged to
the amount of $4,000, 600, or Al
per cent. of them, and at an average
interest of Z per cent. The wheat
crop Of that State for 1889 was 23,-
$1,000 bushels, required for home
consumption, 9,246, $40 bushels; leav-
ing net amount for sale, l4,462, Ago
bushels. To pay the interest on farm
mortgages for one year at Z per cent.