The islander. [volume] (Friday Harbor, Wash.) 1891-1899, 1897-08-19

The testimony of returning business
this paper in the past two months,
through a collection of statements of
the press of the country. irrespective OF
party, has attracted much attention
and been received with much satisfac-
ton. So gratifying has this presenta-
ton been. and so rapidly do the evil
dences of prosperity accumulate from
every direction. that another series OF
statements of very recent date are here
with presented.
These statements are all remarkable
and striking. but none Of them is more
so that the lengthy one from the New
York Sun, which has gathered from all
parts of the country information about
the condition of the farmers and the
rapidity with which they are paying
off their mortgages under the better
prices for crops, and the lessons of the
past four years, which have taught
them the Importance of taking the first
opportunity Of paying off their debts.
whenever possible. The article, it
will be seen. covers all sections of the
country, and shows remarkable pros
perity and prompt application thereof
to reduction of Indebtedness, a double
condition on which the farmers of the
country are to be congratulated. Here
is the collection of convincing dispatch
es appearing in the Sun:
Seattle, Wash.-FOr the first time in
several years there is much idle money in
Washington. This state of affairs is due
in a great measure to the excellent crops
of 1896 and to the prospects of still better
crops in 1927. All the wheat belts of the
State. including the Big Bend of the Co
lumbia. the Palouse country, the south
western part of the State. and Skagit
and Whatcom counties. will produce. it
is estimated. at least Onethird more than
ever before, and the first step of the farm
ers will be to raise the mortgages of their
farms.
1.-THE debt of the farmers of Washing
ton," said G. E. Villas of the Washington
National Building, Loan and Investment
Association Of Washington, will be de-
creased at least % per cent by this year.
CROP"
X. P. IIatimer Of Dexter. Horton & Co.
says that reduction of % per cent on
debts for the last three years is low
figure. The estimates are that the farm
ers will gain $1O,OOO,OOO from the crops
of 1897.
Jacob Furth, president of the Seattle
National Bank, says great number of
mortgages on farms have been paid off.
and he has advices from the Big Bend
to the effect that this years crop is of the
very best quality. A like condition exists
in the Palouse country.
Levi Ankeny. banker of Walla Walla.
was in Seattle few days ago and said
that Walla Walla had too much idle
money.
E. Cardin of ]. Adams & Co. says the
wheat crop will be the largest ever pro-
duced in Washington. amounting conser-
vatively to about 100000 bushels. The
farmer will probably get So cents in east
ern Washington and 20 cents at this port
Seattle. owing to the opening of the
Oriental trade. will handle six times as
muck grain as ever before Mr.. Cardin
says there will be better times this fall
than in five years. Last year an east
washington farmer went to the North
western Bank in Spokane.
Take my farm" be said. 81 cannot
pay the mortgage"
The bank not only declined to do so. but
gave him seed wheat. This year he will
clear himself of debt and have snuo
balance.
Portland. Ore.-The farmers of Oregon
Washington and Idaho, owing to the
good price of wheat. have been enabled
to pay off most of their mortgages. and
this year will get almost entirely out of
debt.
In Washington loan agents find their
business greatly restricted on account of
Populist legislation. The late Legislature
passed an act increasing the amount of
property exempt from execution. and abol-
fishing the personal Judgment clause in all
mortgages, so that only the property mort.
gagged can be held for money loaned Tn
Oregon loan agents are not hindered in
this manner, but they report very slack
demand for money at the present time.
Bismarck. N. D.-Inquiry among lead
ing agents of loan companies develops the
fact that few applicants for farm loans
exist in cOmpa rison to former wears and
hundreds Of farm mortgages have heen
paid recently. The exact reduction of the
mortgased debt of the State would no i'm
possible tc ascertain without investigation
of the records of each county, but the 40.
gregate decrease will be large. This i'm
provement has come about through more
scientific farming, greater attention 70
diversi6caticn of products, and the ex-
tension of the stock industry. The latter
has assumed larger proportions among
small farmers in the last few years than
ever before. Applications for hundreds
of new brands have been filed with the
Secretary of State. The raising and shin
ping OF stock is the most profitable occu-
patton of farmers. and not until recently
has it heen taken advantage of here.
The advance in the price of wool has
been worth hundreds of thousands of dol
lars to the State. and nearly every farmer
has flock of sheep and receives part of
the benefit. The new law allows the State
Board of School Lands. which has the
custody of $T.000.000 of the permanent
school fund, to make loans on'farm lands