Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1894-11-09
DON'T SELL YOUR FARM.
The Advice Given to All Owners by an
Eastern Financial Authority.

During the last year great many
persons have come into possession Of
Western farm properties through fore
closures, says the United States In
weston. AS the present owners, to a
large degree, are residents Of the East,
their only desire is to rid themselves
of these holdings as soon as possible.
A word Of caution to such persons may
not be out Of place. Real estate values
inothe West are greatly depressed as
result of last years panic. In many
localities it is difficult to find pur-
chasers at any cost. Now there is
reason to suppose that Eastern holders
Of Western lands may be de-
,ceived by sharpers, making use of
this very state of affairs. These
lands are worth something to-day,
and later on they will be worth a
great deal more. 1t all depends
on the ability of the present holders to
carry them until times improve. The
danger is that certain parties with
long purses and long heads will mag
Nifty the unfavorable side of the situa-
ton for the purpose of frightening
timid investors into throwing over
their Western lands at merely nominal
prices. A word of caution to holders
of Western farm lands is timely for a
number of reasons. In the first place,
there is every reason to believe
that the worst that can be appre-
hended in connection with the Vest
ern situation has been fully discounted
in the drop in real estate prices which
has already taken place. Owners Of
land should be on their guard against
any and all attempts to convince them
that prices will go lower. The chances
are that values will enhance rather
than depreciate. In some localities
there is already reported to be a bet
ter demand for farm properties. Prices
are bound to be low for several years,
but, there is good reason to believe,
with an upward tendency.
The financial depression in the
United States will undoubtedly keep
immigration down to a low point for a
considerable period. The fact, how
ever, must ever be kept in mind that
this country is the center toward
which the population of the whole
world is tending. Coming years,
therefore, must inevitably witness a
strong demand for farm lands in the
United States. In this connection it
is well to bear in mind that about all
the good government land has been
disposed of, and that farms are not
going to be obtained as cheap in the
future as in the past, other things be-
ing equal.
A great deal is being said at this
time regarding the sharp compe-
tition which the American farmer is
going to encounter in the future as
the result of the opening up of new
agricultural regions in various parts
of the world. 1t can be safely said,
however, that in the long run this
country will be able to hold its own.
Temporarily, the American agricul-
turist may experience hardship. 1t
may even be admitted that prices of
cereals will permanently remain on
low level. The situation will adjust
itself in time, and if the farmer is
obliged to take lower prices for his
wheat and corn he will obtain what
ever commodities and services he may
require at correspondingly reduced
rates. 1t is idle to attempt to dem
onstrate that America is about to take
a second place as the great food pro-
ducing country of the world. This
fact should be kept in mind by holders
of western farm lands. Whatever may
be the status of their investments to-
day, it can safely be asserted that five
years hence will witness prices consid-
erably in excess of those now obtain.
able.