Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-11-24
peal amend, or revipe the laws OF pro-
duetion and distribution.
THE HOMESTEAD LAW.

'i' t'iiptllAitu OF III the VI oi
he world he Is at times compelled TO
endure Is called TO the fact that nearly
100000 OF farms OF eighty acres each IN
the United States have been given away
by the government under the homestead
act OF 1866. during the last thirty years.
Those farms contain many millions OF
acres OF arabic land
This giving OF something for nothing
has resulted in an abnormally rapid IN
crease Of the acreage under tillage IN 'he
United states during the last thirty years.
This also has caused decline In farm lana
values i'm the Eastern and older states
Under the timber-culture law the amount
donated was equivalent 10 over $1,000
more farms OF the same size. This takes
no account OF the desert land laws, under
which numberless choice locations were
given away, or Of the large body Of land
patented TO States and corporations and
sold at merely nominal prices to build up
the country. Lands long titled and rem
dered partially infertile could not, OF
course. enhance In value and sell In COM
petition with virgin soil which was being
donated by the General Government.
Lines Of rail transportation have either
pioneered the homestead lands or quickly
followed their settlement. Reduction In
the cost of carriage has made the long
away-given away-farms but a tsifie
more than the freight upon products
grown In the Middle and Eastern States
going TO the same domestic markets or
to those OF Europe.
mo legislation, relative to the public
domain has been so directly inimical TO
the farmers who had bought and paid for
the lands upon which they lived and la
bored. Until the homestead law came
into vigor, in 1866 the farmers of the
United States competed with each other
upon land representing accumulated capt.
tai and fixed investments. but after the
homestead-law lands began to produce
and ship into market crops from the vast
area Of fertility which they represent
Eastern and Middle States land values
declined. 1t was impossible for them to
enhance in competition with fresher and
more productive land obtained as gratui-
ties by other farmers. 1t was equally i'm
possible-demand remaining stationary
and supply suddenly increasing-for farm
ers in the older States to probably sell
their products in competition with those
of the newer States grown upon lands
which cost their owners nothing"
RATES OF INTEREST.
Referring to the impression that
greater rates Of interest are charged for
money loaned upon farms than for that
loaned upon other kinds Of real estate.
Secretary Morton states that the rate OF
interest charged on mortgages upon
residential property other than farms
averages eighty-four hundredths Of per
cent less than the rate OF interest
charged upon farm loans. In seventeen
States the average rate charged on the
latter is less than that demanded for
a oil II,
two States the rates are the same upon
urban and rural real estate. In Pennsyl-
yania, Maryland. Virginia, West Virginia.
Kentucky, Michigan, Wisconsin. Iowa,
Kansas, Texas, and Alabama the rates
OF interest are less for money secured
by farm mortgages than for money Sc
cured by other realty. In five States, in
Guiding Kansas. the difference in favor
Of the farmer is from one-fourth to one
half of 1 per cent, and in Texas il Is
over l per cent If a western farmer
pays a higher interest than the east
ern, so also does the western merchant,
common carrier or manufacturer. In the
Western states during the last ten years
there has been a steady maintenance
Of land values in nearly all sections. and
i'm some an enhancement. The increase
Of farm land values between 1880 and
1880, reported by the farm occupants
themselves, more than Offsets the entire
interest charged for the decade in most
Of the great agricultural States OF the
West and South. In Kansas and Ne
braska the increase Of land values ex-
ceeded the entire incumbrance, principal,
and Interest, and I'm the States of Wash
ingtOn and California was nearly twice
as great Where the interest was high
est the increase in value was greatest
EXPORT OF PRODUCTS.
During the fiscal year just ended the
exported products Of American farms ag-
sregated $4,000 900. an increase Of 1909
90 over the preceding year. In spite of
this there was a falling off in the per-
centage Of agricultural products exported
TO the total exports but this was due TO
the unprecedented sale abroad of Ameri-
can manufactured goods. The largest mar
ket for our products Is admitted to be
the home market, but the export trade is
the regulator, the balance-wheel for do
nestle trade. 1t follows that the interest
Of the manufacturer az we'll as Of the
farmer is found in the most repid possible
increase OF the export of farm products.
General prosperity depends absolutely
upon agricultural prosperity, and any
commercial system which will increase
with celebrity and extend with certainty
the utmost advantage 10 agriculture and
all those interested in its profitable ex-
p8nsiOn. That political economy which
best advances the interes; of tha agricul
turist furnishes the best impetas to the
manufacturer of the United States, for
his best customers are farmers and those
who depend directly for ptoiit upon the
prosperity Of the farmers.
tine principal market for American pro-
NTe.ss n 9
Great Britain and her Colonies. These
English-spsaking people bought So per
cent Of all exports from the United States
in the fiscal year 1896 Together with Ger
many, France, Holland, and Belgium they
purchased $40 per cent OF our entire out
put. leaving 1S1 per cent. for the rest OF
the world.
LABOR-SAVING INVENTIONS.
ON the United States labor-saving in
ventions are applied in almost every ave-
nue. OF production. Nowhere else o.
the globe has agriculture 50 many i'm
proved. useful, and ingenious devices. i'm
plements. and machines at It's command.
Therefore, the exports OF American farm
products must increase; and the sales
from those exports, after yielding AIDE
quate profits to maintain the farm, will
Weld also higher rate OF wages 10 those
who do the mechanical and manual work
than the wages paid in those nations
which are our principal customers Ne
cessarily. the wages paid in the United
States-for instance, in the production OF
wheat and cotton. the great articles of
export--are from 50 to 500 per cent higher
than they are in those countries with
which we compete IN sNling our cotton
and wheat; while in manufactures from
the metals the wages paid those who
make articles or iron and steel for export
are from 25 TO 100 per cent. higher than
tbc wages maid workers I'm the same in