Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1892-03-25

II 41U,OOl. An Lnfe3&0 In one OAv twenty
one banks loaned ~ 81 !, Sy7. Nine
| ~ ,S;4. I07, and 1877 banks in the cities
and towns September 25, 1891, loaned
| out 81 1856, 81, 2,i0. This does Q tinclude
halt or the banks OF the immense sums
loaned by individuals. Let it be noted
| these loans were the transactions Of but
one day.
The loans on real estate and other sc.
| cuwities made by 4,9S9 state savings, pri-
yate banks, and loan and trust compa-
MES during the last fiscal year amount
ed 10 81 ,Gal, 407 .657.
Furthermore, in the states where
| there liz apparently 4 large farm in
| debtsdness there is likewise a large in
| debtedncss in other real estate, such
as city and town lots. In u recent re-
port from the Census Office on this sub
lect of farm, homes and mortgages it APP
| pears that III the state Of Iowa, Of u total
/! rea! estate Indebtedness of Slg9, ia, LII,
| the mortgages On aces were Sf49,451 ,144,
! and $5O,33l7 ,127 was on lots in towns and
| cities. In Kansas $l7i,720,07I was en-
acre property and SOS, 426. 75o was on
town lots. In Illinois $lt5, 2S9, LIZ was
| on acre property and 500, Olo .GsS on
lots. II is q fact that the older the
| communities the greater are the debts
in towns and cities as compared with
the Indebtedness or farm property. The
Chicago debt alone was SI9l ,000, 900, or
SIG, 000, 900 more than the entire farm
indebtedness of Kansas, or Sal ,000, 600
more than the farm indebtedness of
Iowa.
From this same bulletin issued by the
Census Office ~ltappears that about 7 0per
cent. Of the money borrowed ON farm
mortgages IN Kansas was for the pur-
chase OF real estate and improvements,
nearly q per cent. for business, and only
about y per cont. farm and family en-
| penses, the balance to purchase live
| stock and other personal property. In
Iowa the percentage of mortgages given
for purchase Of real estate and inn
| prnvements was about 81 per cent. of
the farm Indebtedness. In Illinois the
| perce ntage OF Indebtedness used in the
| purchase Of real estate and in improve
| ment was about 80. 1t will be seen that
q very large portion of the indebted
| ness represents Thrift and not distress,
the acquisition of more property and
better conditions by improvements, new
| machinery and more live stock.
From the annual circular of K. G.. Dun
& Co., of the failures of the United
States for the calendar year 1921, we
learn that the number of failures in
business in Massachusetts WAS ia, and
the amount oil liabilities was $l3, s73, 1921.
In Kansas the number of failures was
27J and liabilities were $0,625,33l. In
Pennsylvania, 1888 and liabilities, $25,-
All, 5S7. In Illinois, 53l and liabilities
III, 303 ,Si4. In Connecticut, number of
failures 1855 and liabilities 81, 1l9, 1920. In
Iowa, number Of failures lS5 and liabil-
tiles 81 ,267 ,7U4. 1t will be remembered
that Pennsylvania, Massachusetts,, ard
Connecticut are great manufacturing
| states, are much older, their business
methods more settled, and they have
| accumulated more wealth by the saw
ings Of V e 100 years. They were not
| distressed by loss of crops, and vet in
| those three manufacturing states the
| failures in 1891 amounted to 2,2i0 and
the liabilities were of the large amount
of So, 040, 52S. while the number of fall
ures in the three agricultural states Of
Illinois, Iowa and Kansas was Hl, and
the liabilities amounted to $l3, I96, $40.
There we're 1.249 more failures and S2S,-
Sn3,679 more liabilities in the three man
%uiacturing states than in the three agri-
cultural states.
Furthermore, 1t appears from the an
nual report OF the commissioner OF la
Dor statistics Of the state of Connect
cut that the per cent. of profit realized
on capital invested in several leading
manufacturing enterprises during 1890
was us follows: Cotton 6.l4; woolens,
7.57: leather goods, B.2S; rubber goods,
342; clocks, 2.l3; buttons, 7.49; general
hardware, $40, or an average of not
quite d per cent. on the capital invested
IN these seven industries.
The farmers of the West would not be
content, If from a capital of So 900 in
vested in farm and stock, they realized
but $500, or 500 from $4,000, 81, 200
from an investment OF $4,000, or 81 500
from an investment of $50, 1000, out oil
which they must pay their family ex-
penses, and all other expenses, educa-
ton of children, ETC., as do n OF
capital invested in the manufacturing
industries. This is one reason why
states seek investment in the West, be-
cause the returns are larger than from
investment in manufacturing industries.
1t il needless to say that the careful,
diligent farmer and stock raiser realizes
on the average a much larger per cent.
on his Investment, as he Justly should,
besides having his home and the sup
port OF his family. He has much more
Of real content and comfort and less of
the anxieties of life. 1t may not be
amiss here to give a few facts that indi.
cate the progress and prosperity of the
agricultural interests of the United
States. The value of the wheat crop is
given by the Agricultural Department
at $5l3,412.7l1; corn crop at $685., 439, 22S;
oats at $223o2, 3l2 ,o67, These crops alone
were worth 81 ,5s2, pa ,206. and the same
authority estimates the crops of these
cereals in 1891 q worth about $500.
0N0, 900 more than the crops of same ce.
reals Of 1890. The products OF these ce.
reals in 1s9lin Illinois were worth about
SIis, 600, 600; in Iowa, SI5i,OOO, 900; in
Kansas, $4,000, GOO. If all the prod.
ucts of the soil and live stock interest
were included, these values would be
more than doubled in each of these three
states or close to if not quite $1,000, 600.
600. Who a truthfully say the farm.
ers of the West are not now enjoying
prosperity, and it is only a matter of q
short time when they can pay all in.
debtedness or borrow money, when
they wish ut much lower rates thar
heretofore.
I hi Results OF tho Dec;sions Touching the