The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-25


The Lawrenceburg Register. whose edi-
tor is also a banker. says
We predict that the man who owns a
third more for it than he can at present.
Even now. In the midst or what may be
for farms is increasing in this part of The
country at least. Our exchanges show a
larger number OF calls for moderate sized
past While While the For sales Of farm prop
erty are exceptionally few. Don't be in TOO
much of a hurry to get rid of your old
farm, is the advice we give 10 young men.
Stick TO the farm.
There Is wisdom In this advice. The best
judges of real estate and land values be
lieve that improved farm property has
reached bedrock prices and is almost GER
tain to show a material advance in the
next few years. The depreciation of farm
property during the last two decades has
been due to combination of causes. First,
the value Of farm lands. like ala other val
ues, was greatly inflated for a few years
after the war, owing to the depreciation of
the paper currency which gave a fictitious
value to all kinds of property. The return
to specie payments and the gradual res
toration of normal conditions caused what
seemed to be a shrinkage Of values. but
which was really only restoration OF the
equilibrium
Another thing that has contributed to
the depreciation of improved farm lands
in the older States has been the steady emil
grafton to the new States and Territories.
for s125 per acre it was a great temptation
to the owner Of an improved farm in Ohio
or Indiana to sell when he could realize
enough to buy farm five or six TINES as
have plenty Of money left to
stock 1t. Under the impulse Of
this emigration and more land
fever thousands of farms in the old States
were offered for sale at much less than
their real value, with the result Of forcing
the prices down to abnormally low
point. But the conditions have changed.
About all the good government lands have
been disposed of and the owners of I'M
proved farms in the new States are not
anxious to SELL The era of cheap farm
land is passed, never more to return The
tide Of Western emigration has subsidized, and
will never run banks full again. There is
even some migration from the new States
back to the old The demand for improved
farms in the older States is increasing and
is likely to increase for years to come
Still another cause that has contributed to
depreciate the value Of farm lands has been
the unhealthy desire for city life which has
been so prominent feature Of American
life in the last twenty or thirty, years
Without undertaking to account for thfs7ft
is undeniable fact. According to the
United States census of 1860 out of a popula-
ton of .321 there were living in cities
500, ESQ, 1913 per cent Of the entire pop-
622250 there were living In cities Is. 235670,
or 29.12 per cent of the whole. These fig
ures illustrate very forcibly the increasing
tendency of population towards cities dur
combined with emigration, is that many
counties and townships throughout the
North had a smaller population In 1890 than
they had in 1850. 1t needs no argument to
prove that this must have helped to depre-
ciate the value of farm lands But this
movement of population towards the cities,
like the Western emigration movement, has
spent it's force and is subsding. There are
even indications of a reaction. The SUBJ
stantial advantages of farm life and the
unsubstantial attractions Of city life are
becoming better understood. 1t is likely
that the next few years will bring a de-
cided movement of population from the
cities to the country. $50
For these reasons the Journal believes
that the depreciation In the price of farm
lands in the older States has reached its
limit, and that for many years to come
the movement will be in the other direc-
ton. The owner of good farm in any
Northern State had better hold on to II.
1t will never be worth less than it is to-
day, and the chances are it will be worth
considerably more before ten years have
passed