The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-09-23
1T IS STILL PROUD KANSAS.



mire of distress. Prosperity is n bitter
pill to them, which is taken with wry
faces The fact is that Kansas was
never in healthier condition, and no
other state in the union equals its pros
perity. There is a heavy bonded in
debtedness, but the collateral is so
good that it might be increased four
time and yet we would be able to pay
every cent and have money left upon
which TO do business. The existing
debt of the state January 1. 1880, Sc
cured by real estate mortgage, aggre-
gated S235, 4s5, los census bulletin No.
14). OF this total amount Sl67, 145 .039,
or &c per cent, was on acres-almOst
exclusively farms, and Sos, $40, O69, or 80
per cent, on city Lots.
The true value of all property in Kan
sas, taxed and untaxed, is estimated by
the census office at S1,646. 00O. 200. The
mortgage indebtedness of the state
S235, ass. 10S-would therefore be but
81 per cent. of the true valuation of
all property in the state.
The assessed value of taxable acres in
Kansas in 1889. the time when the
enumeration of mortgage indebtedness
closed. was S17S. sol. 0lO: the mortgage
indebtedness against acres was Sl6T,
las. 059. a difference in favor of the acres
of s6,655. g11; this on assessments of
land conceded to be at one-fourth of the
cash value. The assessed value of town
lots was $40, 3SO.671, the mortgages
against these being SOS $40. O69. This
& =
ton of one-fourth the cash value. The
account would stand like this on the
assessed valuation:
Full mortgage debt per taxable aere.......s3s7
Assessed value OF taxable acre page LOG
auditors report 1SSl 80 -................. 400
Or, making the statement read as
creditor would look at it, We have:
Average cash value of land per taxable
Average amount Of debt per acre .......... 3s7
Margin per acre. ................ sis9 5
Nearly IS per cent of the total mort
gage indebtedness was found in the
seven counties of Cowley. Dickinson.
Reno, Shawnee, Sumner and Wyan-
dotte. The census uperintendent
SAYS: "Of the total debt in force against
acres 81 per cent. is on real estate in the
western half of the state, where values
are low and where settlement was
made but 4 few years ago upon public
land This has great effect on state
averages based on value" As every
Kansas citizen knows, a very large pro-
portion of this latter class of indebted
ness was contracted by men who were
leaving the country, and who looked
upon the loan made as a sale so far as
they were concerned.
1t is claimed by many that the mort
gage debt of Kansas does not represent
money borrowed, but a part of purchase
money. In careful analyzation of the
purposes for which the money borrowed
on II, 65S mortgages in five counties was
used the superintendent of the census
SAYS: 1T is safe to say that three
fourths of the debt of Kansas was in
CURED for purchase money and improve
mentS." (See census bulletin No. N.
Having a debt hanging over rs how can
we pay it?
1t is Il self-evident proposition that
the value of farm products viii be moro
in the next five years than they We're in
the past five. The value of the farm
products in Kansas for the five years
ended with and including 1890 was
SGI2. OOO, O00 in round numbers. an aver
age for each year of 1922, 600. 900. Should
the value OF the farm products be as
great during tine next five years, it will
require only - per cent. of the annual
production TO pay off in fun the farm
mortgage Indebtedness given by the
census bulletin The estimated living
expenses of the Kansas farmers amount
TO $50, 600, 0O0 per year. Deducttng this
from the value of farm products and at
the end of five years, after sustaining
themselves and paying their mortgages,
the farmers would have left 5000, 600
in cash or products This is not taking
into account the increase in the next
five years that can naturally be ex-
pected over the past five years.
These statements are borne out by
the facts reported. there being released
for the ten months prior to June, 1892,
in siXty-one counties. so, So, 500 OF
mortgage indebtedness, clear gain of
81. 49,. 159. or % per cent. over the mort
gage indebtedness incurred.
II has been said that ''our indebted
ness represents our prosperity The
value of our Kansas farms in 1850 was
$3.50, 200. 600: in 1890 the value of Kansas
farms was, according to close estimates,
$500, 200, 600, a gain of nearly SS65, 000,-
900. In 1850 the number of taxable
acres in Kansas was, in round numbers,
o.. 500. 600: in 1890 the number of taxa
BILE acres was over -. 900. 600, or almost
double. Having more than doubled all
our values it would be strange II we
had no debt to pay, for such remarkab bic
advancement cannot be made without
capital Kansas having no capital of
her own was forced to borrow, and
proves that she is able to pay those who
loaned the money.
In 1850 the value of live stock in Kan
sas was over Sol. 900. 600: in 1890 it was
nearly $4,000, OOO Again we have a
doubling Of values that necessarily re-
quired capital, which was partially sup
piled by loans
In 1850 the number Of acres devoted
10 the production of wheat, corn and
oats was $500. O0C: in 1880 the same
crops required 9, 500. eco acres, gain Of
IS 4 per cent In 1850 the value of
wheat, corn and cats was SIS, 900. coo: in
1890 the value of the same crops was
S54. 0OO. 900.
Ten years ago the total value of farm
crops and live stock in Kansas was
s16l, OC0, GOO; in 1890 they aggregated
1886, goo. OOO. 4 gain of S95, coo, 900, or
nearly so per cent.
Colorado boasts of her silver and Cali
fornia of her gold. The average annual
production of gold and silver in these
two states Is but So. 100000 The aver
ace vaIue of the Kansas corn crop alone