The sun., 1896-10-09
rnE CONDITION or oUn rARMEns.
Hrr. Andrew Carnesis'a Letter TO the Lon-
"ta -'T don TIMES on the Subject.

Arr. Andrew Carneeis'a Letter TO the Lon-
"'' 'F don Times on the Subject.
To rHn EDITon OF THE T1MEs-Sir: Tho
American farmer is In evidence just now in
your columns. There is only one authority
which covers the whole ield-viz., the latest
census. that OF 1890. From 1t we learn:
!. Total valuation OF all farms, Sl3, ,270. 252,-
Gao.
.. Value of farms free of encumbrance, Slo.-
224, ,329,4S4
3. Value of farms encum bercd. 81, ,o54. .023, ,185.
Thus between 20 and so pcr cent in value are
entirely FREQ Of debt.
The total mortgage debt upon tho encountered
farms. valued Mt 54,O23, 1855. Is 81, ,OS5 005-
900, equal to one. third their vaiue. Rate of In
forest paid 707 per cent, but this has fallen
materially since 1890. Thus the farms OF the
United States exceeding $4,000 millions OF dol
lars in value ars mortgnged only to tho extent
Of 1000 millions, say less than eight per cent of
the valuation" which is always far below
actual value.
think you will consider this n very remark
drawn OF thu condition Of the American farmer
and his crushing load Of debt due to the Eastern
.sober writer's allege that tho mortgage debt
since 1890 has tended to decrease. A New
York banker managing Investments upon farms
difficulty In obtaining farm mortgages as hither-
to. because the farmers were paying of ard
".
When a writer speaks Of these shrewd farm
ers who have obtained money at 7.07 per cent.
paving 20. 80, and 40 per cent to crossroads" s
nation. When he says that the cross-roads
s.6Itekeepsr p,,;, who Is svssywhore has good
neigbborbood with greater property does not
share. or cannot. one does OF know upon what
Tho letters of Messrs. Close and Fish give the
fact st n As As MI Close the farmers in gen
ago, when their products comnended much
higher prices; but the last class. in the world
which requires sympathy or assistance is still
the American farmer. There is discomfort among
them. of course. Most of the old farmers
one crop, often with two. These days have
passed % and i S i natural they should look back
general there ia margin each year over living
expenses which would make tho farmer III any
The farmer. unfortunately, has been told by a
few writer's and public men OF position-a very
few,-,upon both sides Of the Atlantic that lower.
ing the standard Of value would raise, and
probly double. the price of his products and
that no has q fair claim to a lower standard for
repayment OF debt because Of the unjust bear
Ing which the appreciation of gold has upon
1il:. hiul: These men have much 10 answer for.
classes ignorant OF the laws which govern
money. But the American people. having at last
been brought face to face with the question
foot; Mr.. Mckinley is probably TO be elected oy
the largest popular plurality eyer given to any
iaaSc ioi tucI icsiutHCS NHtU HI tue states
voted. and possibly by the largest ever given in
the electoral college. and this not through one
party. but by combination os the best elements
of both.
The forces OF honest money" maintenance
of Executive powers regard for law" and
together rs in the war for the Union
Scarcely a statesman of national reputation,
beyond the small band OF Senators from silver
States. has spoken in support OF the Chicago
platform. some Democrats have gone so far
to say they will vote for the nominee for party
reasons. although detesting the platform: others
announce their intention To vote for Mr.. McKin-
ley. Mr.. Bryan. attended by few bobodes, is
usually left TO do all the speaking himself.
There IL now every indication that the vote
will be 80 overwhelmingly in favor of sound
money that such legislation can be secured as
Will take the Government out Of the banking
business. and settle finally the agitation against
the gold standard. Respectfully,
ANDREW CARNEGIE
CLuNY CASTLE. Sept. 20.