Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-05-11
ILENE WEEKLY REFLECTOR ABILENE KANSAS, MAY H. 1898
Western Farm MortRapas.

II there has been one ststistician
more than another whose figures have
been particularly soothing to Demo
Gratis and Popuists Of high and low
degree it is Edward Atkinson, Of
Boston. lie Is probably one OF the
greatest authorities on statistical in.
formation Of the century and his
figures have been used to prove a
great many things. Now he comes
and declares in an interview In the
New York Times that the western
farmers are prosperous and that the
opinion prevalent in the East that
they are oyerburdened with mortgages
is erroneous. The substance Of Mr.
Atkinson's talk, which will be sur.
prise TO most people. is as follows.
Said be:-
More than one-half Of the western
farms are free Of any mortgage Of any
Kind. Less than one-half are subject
to mortgage. The amount OF the
mortgages, taken as n whole, is less
than one half of the value of the
mortgaged land. Half the money
loaned on mortgages has been lent by
citizens Of the same State In which the
mortgaged farms are. The indebted
ness on mortgages Of western farmers
TO eastern capitalists, or others who
do not dwell IN the same State, Is less
than l24 per cent Of the true value Of
the farm land In the State named. The
western farmer Ii 10 u grea.er extent a
treditOr than he is debtor, and one OF
che causes Of the recent embarTass-
ment Of what are called mortgage
security companies" Is that the farmers
who owned good lands have lately been
able TO borrow money at so much
lower rates than those they formerly
paid as to have tempted mortgage
companies to loan money on specula-
tive investments having no connection
with farms Of any kind. These facts
have an important bearing on the
monetary question. The Rolid sense Of
the prosperous farmer Of the west Ia
now being exerted and will form an
important factor in determining the
quality OF the money which these
creditors mean to maintain.
Mr.. Atkinson in the same article
says Of Kansas that while 1t was form
erly heavily burdened with mortgages,
many of them unnecessary, II Is now
in better shape than most Of the west
ern States. Mr.. Atkinson's words
must be accepted a. high
authority. lie is a radical free trader
aud consequently has no desire to find
any argument in favor of the revenue
policy which has prevailed In this
country for generation and is still in
force. But with all his dislike Of pro-
lection he Ia an honest man and ready
to acknowledge the irresistible logic Of
facts and figures.
The Republican party has been nc.
cused of running the farmer in order 10
enrich the manufacturer. The western
farmer, grooming under mortgages,
was one of the stock arguments Of the
Democratic party last year and 1t is to
he regretted that many sensible people
were mislsd by the misrepresentation.
As matter of fact, however, there In
no doubt whatever that the farmer has
never been no prosperou us In this
country as under Republican admins
trations and the financial and tariff
policies pursued have been exactly
those suitable to building up the bust.
ness OF the farmer as we'll as that Of
the manufacturer and merchant.