Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-07-07
PROMPT SELLING PAYS.
Wholesome Advice to Farmers in View of
Existing Facts.

of the present condition of business
and money matters. 1t says:
l. Many farmers are doing them
selves very great injury by losing
confidence in the financial system of
the country, and especially in the
soundness OF the banks in their
neighborhood, and, therefore, with
drawing their deposits, and thus tax
ing them ont of the general circula-
ton. 1t is within the power of the
farmers OF the United States at any
time to bring on panic which will
affect the entire country, and other
countries as well, by simply taking
their deposits odt of the banks and
keeping them at home. This in
wolves such a violent contraction of
currency that it is felt in every ave-
nue. of business. Farmers generally
believe that in so doing they are
making sure of what they have, act
ing with supreme conservatism, and
as they term it, making themselves
safe" There is nothing they could
do that would make them more I'M
safe, for the reason that anything
disturbing public confidence necessa-
rily stops business, throws labor out
of employment, increases crime,
stops productions in other lines and
robs him of his own market. If the
iaboring men cannot get employment
they cannot buy farm products, and
as matter of course prices of farm
products must fall and the reaction
comes upon the farmer in full force.
The result of it is a steppOge of fac
tories, and throwing labor out of en-
plOyment necessarily means exceed
ingly low prices for farm products.
Factories must stop when there is Il
violent contraction OF the currency,
and the farming operations being the
great interest of the west, any sud-
den withdrawal of money from banks
destroys confidence. 1t takes years
to build up confidence that can be
destroyed in months.
, We think that farmers are max
ing a mistake in holding their farm
products in the hopes of higher
prices. We believe that on their
merits everything produced on the
farm this year should bring a good
price, provided consumption of farm
products 90 on. If this stops from
any reason, prices must necessarily
fall to the limit of their consumption
and no power can advance them only
for brief period. Speculation may
depress them for brief period be-
low it, but after all the permanent
range Of prices is determined by the
consumption of products. Anything,
therefore, that stops consumption
depresses prices and inilicts no end
OF suffering. We think it specially
unwise to hold crops for speculation
at the close of the season when a
hountiful harvest of almost every
thing, with the exception of wheat,
Is in prospect. OF course accident
may happen any crop as yet. The
exact measure of the crops of the
season have not been determined as
vet, and some of them will not be for
90 days. but the present conditions
indicate that there will be no scarcity
Of anything grown on the farm. We
should. therefore. expect, under or
binary circumstances, good prices,
but not excessive, for the reason that
there is no very great surplus of any
one crop. If, however, for any rea-
son consumption decreases. the price
necessarily decreases; and we, there
fore, think it a good time to be
closed out of last years crops and
send them on the markets of the
world
When Debt Hangs Over Him.
1t is especially hazardous to hold
crops when the farmer is in debt.
is now the order of the
day, and the more complete it is, the
quicker will be the recovery. There |
fore, if we have any advice to give
our readers it is that when they have |
that is ready for the mar
ket, sell it. Prices may 90 higher |
after while, but unless there be a !
speedy restoration of confidence,
they will undoubtedly go lower. 1t
is good rule to sell any crop on the
farm when it is ready. The man
who adopts the habit If selling hogs,
cattle or whatever else he may have
when they are fit to 90, no matter
what the market may be, will usual
ly come out the best in the long run.
MANY men have made money by be-