The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1896-12-31
ASSIST THE FARMERS.

that upon the answering of the qucs-
tions asked then depends, IN great
measure, the prosperity of the coun-
try. That this is great manufact-
uring country is freely admitted,
but it is great because it has such an
enormous home market for It's manu-
factured articles. 1t has the home
market because it is the greatest ag-
ricultural country on earth; because
AZ per cent of its population creates
wealth by tilling the soil. This AZ
per cent is the foundation upon
which the prosperity of the whole
country depends, because if they
prosper all the balance prosper; when
they are pinched for money, every
factory feels it at once, in the dead
and glutted market for its wares. 1t
is only by fostering the farmer that
the balance cf the country can -four
ish. Do we realize this or attempt
lOs LOOA bDS ldl HlCIS anu Glu-
swer.
According to our great dailies, we
are not receiving gold for our excess
of exports, and this they say is the
cause of our business depression. Is
this true? We think not. The true
reason lies in the new theories of
money lenders; it lies in the modern
ideas as to what constitutes security
for loans, and which gives prefer
ence to negotiable paper, to bank
stocks, railroad shares, bonds, etc.,
and ignores real estate.
Time was when the broad acres of
our grand domain, that produced the
wealth of the country. that fed our
people and sent fabulous stores to the
hungry millions of Europe, were
considered gilt-edged securities for
loans. That time exists no longer,
and the money. lender prefers the
low interest. bearing securities, even
ofEurope, to the fertile acres of his
own land. The farmer at times must
borrow money, just as every other
business man must do, but when he
goes into the money market and
offers a mile square of God given
earth as security for loan, he can
not get it without paying a high rate
of interest and an exerbitant bonus.
His business is thus loaded with a
debt 1t, or any other business, cannot
pay, and then the capitalist looks
upon land as poor security.
The remedy is simple. Instead of
lending money IN Europe at four per
cent, let our capitalists advance
money to farmers at, say, 6 per cent
on long time. If this were done the
farmer could meet his interest and
pay off the principal. AS it is the
interest devours his substance, de-
stroys his hopes, his ambition and his
manhood. 1t makes slave of his
wife and helots of his children; all
struggling to make the farm pay
more than enough to meet the in
interest, and struggling in vain. The
argument may be advanced that the
farmer should not go in debt. This
is true; but he cannot help himself
oftentimes. Neither should business
men go in debt, nor cities, counties,
states nor governments; but they do.
And it may be added that if they
had to pay ten per cent interest on
their debts. not counting repetend
bonus, they would never get out of
debt, nor would they pay the inter-
est. The truth is, the farmers are
charged rate of interest no business
can pay, and then they are told their
lands are worthless as security, be-
cause they will not do the impos-
sible.
If our money-lenders will assist
the farmer, the result will surprise
them, because as he prospers and has