The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-07-23
BUMPER CROPS AND PAID MORT
CAGES.

The news OF the bountiful %heat crops
Of Kansas and the Northwest. the phe-
nomenal cotton crop Of the South and
the magnificent fruit crop Of Missouri
was enough to drive the oalamityites to
desperation. But now comes the news Of
millions Of mOrtgaged Indebtedness wiped
out by the farmers Of the Northwest
during the last year The apostles OF
disaster are amazed and dumtovmied be-
yound expression, The man who hcwls
famine and despair from the hintops
hasn't a leg left TO stand on.
The night against prosperity is getting
to be well-nIgh hopeless 1t is coming in
spite Of the popocratic peztilenoe plat
forms in Ohio and Iowa. No,hing WI
stop II Investigations made through To-
cal agencies and financial institutions in
The leading cities Of Iowa reveal the fact
thar Iowa farmers have teen payIns OF
their mortgages TO the amount Of sgs.-
ooaoo Money was never more pleati-
ful in Iowa for loaning purposes than it
Is row. Some money in large quantities
and on long time has been loaned on
real estate security for per cent. which
was unheard OF until recently.
The reports from Nebraska show
large debt reduction in tina; state A
close estimate Of the aggregate. places
the amount paid during the last six
months in Mr.. Bryan's state al sel0Ol,-
eoo In spite OF assiduous elamor about
the mortgage-ridjen farmer N Nebraska
Mr.. Bryan has not been able 70 prevent
this general liquidation The Nebraska
farmer Is so anxious 10 pay of loans
that he will not renew even on the most
favorable terms While The greatest
small grain crop in the states history
is being harvested. at least 30 per cen,
OF last years colossal corn crop IS sui
unsold and piled in the cribs. indi-
eating that the people are not suffering
for cash.
Inquiries among loan companies in
both the Dakotas develop the fact that
few applicants for farm loans exist in
comparison to former years, ani hun
dreds Of farm mortgages have been paid
in the last few years. The advance in
the price OF wool has netted the flock
raisers of that state hundreds u thou
sands Of dollars. In Oregon, Washing
ton and Idaho the farmers, owing TO the
good price OF wheat, have been ebie to
pay off most of their mortgages and
this year viii see them almost entirely
out OF debt. The crop prospects in Wash /
ington are exceptionally bright. Some Of
the famous wheat belts it is osi- |
mated, will yield at least one-tnlrd more |
than ever before Minneapolis makes
gage Indebtedness on farm lands. The
lowest estim re places the percentage
of reduction at from Is to % per cent |
which is held 10 be a remarkable show
ing when it is remembered that a vast |
amount of money was loaned rl Mime |
sofa during the boom times. Colorado |
has paid off debts approxima,ing $780,
900 since the first of the year. ami bank !
ers report more money in their vaults
than they can possibly find use for
The spirit Of liquidation is everywhere,
and there has been fully S1sO,Cy000O Of |
mortgaged Indebtedness paid off in the |
Western states alone in the past three |
years The people have got the money |
and are determined to get out of debt |
ID splle ol the tsdrlul laIhehlauonS OF
the calamity party. Added to all this |
disheartening news comes the reports
Of great discoveries Of gold IN Alaska.
There is nothing that drives the popo-
cratic free silvorite to distraction like
rold and paid-off mortgages. With mort
cages being Cancelled. with bountiful
crops in prospect. and more gold being
discovered. the last hope Of the sad-eyed
preacher OF calamity is gone.
The Seattle Post-InteIlIgeneer says, in