New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-23
HOW THE FARMERS STAND.

'rhe coming election is 10 answer one Of the
Ouestions which have been asked of late with
growing concern by the ablest students OF eco
monte and social life The ownership of farms
Ly the farmers has long been regarded "a the
most powerful conservative force In free coun-
try. But the growing discomfort of farm own
crs their increasing tendency in European coun-
tries and until recently in this country TO sepa-
rate from and set themselves against other con-
servative forces has led many 10 doubt whether
the farmers could any longer be relied upon to
resist the revolutionary and destructive tenden-
cies in society If they become possessed OF the
idea that modern institutions and monetary sys-
tens and industrial developments are hostile to
their inter ,sts and calculated to reduce them to
virtual serfdom, as Populist demagOgues as
scrt. NAV not this most powerful and once con-
servative force be transferred to the side Of the
repudiators and Anarchists: The election in
Western States is TO answer this question. and
II the latest accounts are not strangely in error,
will so answer it as TO strengthen greatly conf
dence in free institutions here
The notion that the farmers OF this country
have been losing money finds no support in Off
cal records The farms implements and live
stock were worth in 1860 $3.50, 493. 065. and
during the war decade increased only IL per
cent in gold value to SO S7S GjS21S but increased
:,6 per cent i'm the next decade to So 1Of 0S1 440
and ~ per cent in the last decade to S109S2
c61 t;S., i'm 1890 The increase has been fOurf0d
I'm forty years; the acreage has little more
than doublcd. and the average value per acre
Inns little less than doubled rising from x1l II
In 1850 to SlG31 in 1860. SIS Is gold in 1870
$40 O2 in 1880 and S21 81 in 1890 Had the value
of the farms been invested in Government bonds
In 1880 at 3i2 per cent and compounded each
wear. the entire interest being reinvested nj the
same rate, the amount would have been not
quite the value of the farms in 1890. but mean
while they have supported nearly half the pop
ulaton. The capital there invested Is about two
and a half times the amount employed In the
manufactures. and yields a larger net profit with
smaller risk; 1t is not quite double the capital
actually invested In railroads in 1890. and yields
more than double the gross and six or seven
times the net income OF railroads.
OF this great property only % per cent bears
any incumb.ance, and the amount OF that mort
gage debt Is only per cent OF the total value.
Gu, OF 4.767,179 families occupying farms only
SS695G have any mortgage debts. or 1876 per cent
Of the whole. But Of the mortgages by far the
greater part was given for purchase money, or
in providing machinery, implements or stocks.
and 71666O Of the incumbered families had no
other incumbrance than that thus created. which
was In amount $9O8915 DOG. or S1.51 per cent Of
the whole. while the remaining Indebtedness for
family and farm expenses and all other purposes
was only 1649 per cent of the whole and was
incurred by only 1872 per cent Of the families in
debted. When it is considered that the debts
include all those created in the transfers by a
constantly migratory people from old TO new
States. and that many who parted with prop
crty in older States for that reason hold mort
cages thereon. while giving mortgages for part
Of the purchase money on farms further west.
II will be plain that no considerable proportion