The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-09-17
LOSSES TO FARMERS
WHAT THE FINANCIAL DEPRESSION
MEANT TO THEM.
1t Cost the Farmers of the Grain
Growing States $3S6,976, 944-The
Cause of this Financial Depres-
sion Was the Silver 16 to 1 De-
lusion-Establish Good Money and
Prosperity Will Return to All
Branches of Industry

The immediate future OF this country
now rests upon the decision of the ten
grain growing states of the upper
Mississippi valley, Ohio, Indiana,
Illinois, Michigan, Wisconsin, Mime
sofa, Iowa, Nebraska, Kansas and Mis-
souri,. The center Of power now lies In
this section.
The area of these states is 6O5,S5O
square miles and they now produce
over 70 per cent. Of the corn, wheat
and oats of the nation.
In 1862 large portion of these states
was unorganized territory as yet un-
touched by the plough. Only six and a
half per cent, 24,OOO,OOO acres. was in
corn, wheat and oats. In 1891 little
over 20 per cent, over 100000 acres,
yielded 100000 tons which at $l5.S3
per ton farm value brought to farmers
within fraction of 1920, 100000. The
value per ton had fallen from $24.S3 In
1881, but was equal to that in 1871,
when it was $15.S1. 1t was worth per
ton more than in 1862, value then
S14.42, all on a gold basis. Facts from
advanced sheets of a report of L. G.
Powers, Chief of Bureau of Statistics
Minnesota.)
1t Is manifest that the changes in the
coinage act Of 1878 had not changed
the conditions materially, unless to bet
ter them, because the highest returns
for grain ever secured had been in
1881, eight years after silver is said to
have been demOnetized. In the year
1881 short crops of wheat in Europe
brought an export equal to barrel Of
-four a year for forty million people
nearly as many as were supplied at
home.
Nearly all Of these farms were either
under mortgage In 1862 or they have
been bought and put under cultivation
since that year with money borrowed
on mortgage. From 1891 to 1895 more
than two-thirds outside districts were
free Of any mortgage on the land and
were well stocked.
There was no great change in the
general conditions in this period. The
year 1892 was one Of general activity
in business and Of general prosperity
in all sections Of the country. A
tariff was made in 1893 by which wool
Ohio wool has not been product of
any moment in any of those states and
in Ohio itself the annual value of the
wool is less than the value of hens
eggs annually produced.
There are very extensive manufac-
turers in these states but to the extent
Of at least 95 to 81 per cent they are
Of goods and wares that cannot be i'm
49, Co. ,4r;A >uI
ing to the census classification OF manu-
facturers, which included Touring mills
meat packing, cheese factories and
creamerieS. their manufactures are
very largely exported.
Yet between 1891 and 1895 something
happened which has reduced the value
of the grain crop from S15.S3 per ton
to S9.42 or from farm value Of S91S.-
TAI, 3O4 to So31, 764. 800, making a diff
ference to the farmers of S3S6,916,9 44.
The crops Of corn, wheat and oats of
those ten states in 1891 and 1885 were
as follows:
1s91-Acres, sO,G.aS, 145; bushels. q
value, 1913, TAI. 3O4; value per ton,
els. 2,2iS ,6S6 433: tons, 56.4T9,475; farm
1912.
What do these figures mean! Per
haps an object lesson will show.
In 1892 the farmer averaged for his
grain crop 1883 Fer ton; 1895, $A422;;
loss, SG.41.
At loss of $G41 the cost of fnan-
grain growing states was S2S6,916, GA
Of
All the national conditions OF 1898
were as conducive to activity and pros
perity as in 1891 and 1892. Prosperity
exists when the distribution of all
products is regular and continuous.
That means steady consumption for
the support Of life, to which about 80
per cent Of each years product is de-
voted, and an equally regular con-
sumption for the increase Of capital in
improvements upon land, in the con-
struction Of railways factories work
shops and new buildings, to which 10
per cent of our product may be usually
applied. The traffic or exchange for
the support of life must 60 on, but
when constructive enterprise is
stopped, products pile up in excess of
5 to 10 per cent, prices fall very low,
while all over the country workmen
who need these products stand idle.
There are now 24,ONOOO0 men,
womeD and children occupied for gain
In all tile arts on which life depends.
If, constructive enterprise is paralyzed,
as 1t has been and only ) per cent are
idle, that lreans 100000 men out Of
work and nearly 100000 people suf-
fering want, while the food they would
consume chokes the farms with I'M
salable products. If 10 per cent are
idle, 100000 need work and 100000
people suffer want while the food rots
and wastes in the farmers bins.
The curse Of bad money is upon us,
and millions are now suffering for the
want of the very products which can
not be sold at cost upon the farms.
Esta blish good money and the
change would come with such GER
tainty and rapidity that men would
wonder at their own folly in so long
submitting to the demands Of those
who have put this curse of bad money
upon them.
What the farmers are trying to find
out is what did happen in that period
between 1892 and 1895, each being