The Superior times. [volume] (Superior, Wis.) 1870-1912, 1892-03-19

| interest to the lenders. | Undoubtedly
farmers. as well as men of other avoca-
nons. sometimes borrow inindiciousiy,
and mortgages on the farm. home, fact
orv or stock becomes a burden.
Tie farmer is not less snrew,l. indus
trIous, economical and careful than the
men Of other ayocations, and, az a rule,
Is less n debt, has better home, and i;
more successful than tie average husl-
hess man. There are less failures
among farmers than among any other
class
1t appears from the report at the
comptroller of the currency that in one
day alone the loans by forty-seven
banks III New York City on real estate
and other securities amounted to S2a7, :
/ lie,a3l. IN Chicago in one dav twenty
/ one banks loaned ~ ,.oair, ,St7. Nine
banks loaned in st Louis in one dav
81 .S4 l07, and ! ,bI banks in the cities
/ ana towns September p. 1891, loaned
| out 81 ,9Sa, ,354 30. This does not include
/ half of the banks or the immense sums
/ loaned by individuals. Let it he noted
| these loans were the transactions Of but
/ one aay.
/ The loans on real estate ami other Sc
| curities made by 2So state savings, pri-
] waite banks. and loan and trust compa-
/ rtics during the last fiscal year amount
! ed to - ,ttth, 10. ,Gt1.
furthermore, in the states where
| there Is apparently Il large farm in
! debtcdness there is likewise a large in
| debtednces in ether real estate, such
/ az city and town lots. In a recent re-
] port from the Census Office on this sub
! iect of farm, homes and MORTGAGES il APP
I pears that III the state Of Iowa, OF a total
real estate indebtedness Of $3.50, ,11i, III,
! the mortgages on aces were Slll, ,i14 Il II,
/ and 500, 81 ,0eI was Cn lots In towns and
| cities In Kansas SI14, 72G,Ol was on
! acre property and SIS. l26,13a was on
4 town lots. In Illinois 500 $50. .il2 was
4 on acre property and S2l2,0l0,WiS on
/ lots. 1t is 4 fact that the older the
/ communities the greater are the debts
! III towns and cities as compared with
/ the Indebtedness on farm property. The
/ Chicago debt alone was Sl9i ,o0O, 900, OF
/ Icons 00j more than the entire farm
! Indebtedness of Kansas, OF Sil 100000
more than the farm Indebtedness oi
! Iowa.
t From this same bulletin issued by the
! Census Dliice it,appears that about 70 per
/ cent of the money borrowed on farm
/ mortgages III Kansas was for the pur-
/ chase OF real estate and improvements,
| nearly & per cent. for business, and 0nl Y
| about ; per cent. Farm and family en-
peHses, the balance to purchase live
stock and other personal property. In
+ Iowa the percentage of mortgages given
! FOR purchase Of real estate and i'm
prove ments was about - per cent. o!
! the farm Indebtedness. In Illinois the
/ percentage OF Indebtedness used in the
! purchase OF real estate aud In improve
meut was about 50. 1t will be seen that
! a Very large portion OF the indebted
ness represents thrift and not distress
the acquisition Of more property and
better conditions by improvements, ne "
machinery and more live stock.
From the annual circular OF Il. Il. Dur
! i Co., Of the failures of tie | nItee
states for the calendar year 1891, VS.
/ learn that the number Of failures II
business III Massachusetts was 4bf, anc
the amount of liabilities was Sl3, ,s13,a2l
In Kansas the number OF failures va;
275 and liabilities were S3,623,j"l. II
PENNSYLVANIA. ,:.}S2 and liabilities, 50,
ali. .lS7 In Illinois. 81 and liabilitie:
=, ,3y3, ,Slf. In Connecticut, number o
failures lS5 and liabilities S2.sl9,o2a. II
| Iowa, number of failures ls3 and lIabll.
tiles 81 20 ,1A4. 1t will be remembered
that Pennsy yiyama, Massachusetts. and
Connecticut are great manufacturing
states, are ilICI pihtf. luCIi tLSliitS'
| methods more settled, and they have
accumulated more wealth BY the say
ings Of over 100 wears. They were no
distressed by loss of crops, and yet IL
those three manufacturing states The
failures in 1891 amounted 10 2,240 an
the liabilities were of the large aniOun
Of ; - 04g, 32S. while the number Of taIl
ures III the three agricultural states o.
Illinois. Iowa and Kansas was Ml an,
the liabilities amounted 10 sl3, 1876, SIS
There were ,349 more failures and S2S,
So, ,679 more liabilities in the three man
uiartnring states than in the three agrl
cultural states.
Furthermore, il appears from the an
nual report OF the commissioner OF la
h1r statistics OF the state OF ionnectL
cut that tie per cent. of profit realized
on capital invested in several leading
| manufacturing enterprises during ls9
| was as follows: Cotton 6.l4; woolens
10: leather goods, 6.2s; rubber goods
:; T.: clocks, 2.i5; buttons. l.49; genera
hardware, SO, or an average Of no
quite 4 per cent. on the capital invested
III these seven industries.
The farmers OF the West would not b'
content, If from capital OF $1,000 IN
vested in farm and stock. they realized
but 5000, or $500 from Slo,000, 81 ,2ol
from an investment ot Sae .G0e or 81 ,SU
from an investment OF $50 600, out O
which they must pay their family ex
penses. and all other expenses, educa
lion of children, etc, as do owners 0
capital invested III the manufacturing
industries. This IS one reason VIII,
large amounts of money Of the Eastern
states seek investment III the West, be
cause the returns are larger than iron
Fl nfj rll
II i needless to saw that the careful
iiligent farmer and stock raiser realize
or the average much larger per cent
on his investment, as he justly shonld
besides having his home and the sup
mort of his family. He has much NOR
Of real content and comfort and less O
the auxietieS of life. II may not b
amiss here TO give a lew facts that lndl
cate the progress and prosperity OF tn
agricultural interests Of the nIte'
states. The value OF the wheat crop /
given by the Agricultural Department
at e5l3, 443, Ill; corn crop at $50, ~, -
oats al S2322. 81, ,267 These crops aIon
were worth Sl - 81 POS, and the sam
authority estimates the cr0ps OF thes
cereals III 1891 as worth about 500
, nn 01a more than the crops of same CT
, reals Of $3.50. The products of these &C
! reals IN t~Sl III Iiiiii0tS ACfc Nbtti ah1t
T Sf4S 600 600: in Iowa, Sl54 900, ,Ub, i
Kansas. $4,000 600. If all the proc
, nets of the soil and live stock interes
, were included. these values would b
more than doubled in each Of these thre
states or close to if not quite 81 600, 900
00a. Who can truthfully say the farm
ers of the West are not now enioyin
prosperity, ami it is only matter Of
: Short time when they can pay all Il
: .lehte,iness or borrow money, whe
thev Wish it much lower rates tina
heretofore.
, The Results OF the Decisions Touching II
Mckinley Law.
Let NJ look back little. The Dem,
cratic victory Of l~"o was Won largely U!
IN the assertion that the Mchinle