The times. [volume] (Richmond, Va.) 1890-1903, 1891-05-26
Agricultural Depression.

The depressed condition OF the aSrlcultu-
raj interests Of the North and West has been
a prolific subject Of discussion of late years.
Ii was SO especially last year. when the
country seemed suddenly TO awaken TO
consciousness of the real condition OF the
farmers. What attracted most notice was the
decline of agriculture IN New England ana
the extensive mOrtSaelng OF farms IN inc
West. 10 was shown that thousands
oil farms in New England had been abandoned
and were growing up with weeds and bushes;
IL was shown that New England farms had
become practically unstable, while IN the
best portions of New ork and Pennsylvania
they had deprecated 50 per cent. since the
war From such facts II appeared that Iarm-
inc had become unremuneratye II not
losing business.
II was shown that in the Northwestern
States. and especially in Kansas and Iowa,
the farmers were staggering under a burden
of mortgage Indebtedness almost equal 10 the
value of their lands. In a speech delivered
by General Butler last summer he gave an
estimate of this indebtedness when was
startling in its magnitude. II seems that the
subject has been on his mind since, and that
he has satisfied himself as TO the cause OF the
existing agricultural depression. In the
course of q speech recently delivered by HIM
at Boston he SAID:
Our lands cost from $50 TO 800 an acre.
Good farming lands. the best IN the world,
could be found in the West at cl25 an acre.
That ended our farmers: nothing more nor
less. Not high interest; nothing but compe-
tition. where we could not compete.
What was the consequence; There was
an immense rush into the business OF farm
inc. 50 that We raised all the staples but
one. a great deal more than We could
use in this country, and had 70 20 abroad 70
find q market for II. and when We had To 90
that we had to sell at the price Of the market
1
wheat is determined IN Liverpool Tor the
American farmer and the price OF hogs IS
also determined in Europe, thus making our
farming class contend with the pauper labor
of Europe and Asia upon their own soil.
General Butler said that the early prospect
ty of our farmers was the result OF a nome
market They raised enough for themselves
and sold the surplus at home. During the
war and for years after there was an eXtraor-
binary demand for farm products ana pro
pOrtiOnately high price. Under the lnfu-
epce of this stimulus and of the offer
of Western homesteads there was an
enormous increase Of the farming
area. The extensive use of agricultural ma
chimes was another cause Of the great increase
in production. As regards the home market
the supply soon came to exceed the demand
and prices fell till they met the requirements
of foreign demand. Then American farm
products found every available market IN the
world. And now it is held by many that pro-
duction exceeds the requirements Of both
home and foreign consumption, and that as to
the leading staples there Is over production.
The depreciation of farm values in the
older States was a natural consequence OF the
virtual giving away Of cleared Western farms
A strong temptation was presented to the
farmers Of the East TO leave their rocky
and hilly farms and take up west
ern homesteads. If only as a specula-
tion il was tempting venture. Machinery
could lie used to better advantage on
the Western plains, and crops grown more
cheaply. In fact, the homestead law had ere
ated competition before which the Eastern
farmers had to succumb. The homestead sys-
tenn has not been an unalloyed blessing 70 llle
country. But il Is said that all the good lands
of the West are taken up. That being SO Their
values will gradually advance and their rise
in value will act favoraby on the value OF
of Eastern lands.-Florida Times-U mon.