The times., 1897-08-31
TUESDAY,, AUGUST 81. 1897.
Mhent and Farm Mortgages.

COR espcndent writes to The Times
advising this journal that he has been
much impressed by recent reports In Ger
tain papers TO the effect that the pros
perity waye'' had reached the West, ana
that. for some time past, Kansas farmers
have been paying off their mortgages
Being much delighted to hear such excel
lent news, this CORES pondent took the
trOubls 20 look mp some official figures
and statistics, in order to satisfy himself
OF the truth of these statements. he
favorS us with the res ulJs OF his investiga-
tiOn. as follows.
found that, in 1890, the value OF
farm lahCs, iruCcSr dllu DgiiullGs IN Kansas
WAS stated at S55S, 20 ,O4b, and that the
Same were mort gagged for S243, 4o ,s26,
or about - per cent OF the total, and
doubtless OvereStimated, value. ] found
that LiIc increase In mort "a &c Indebtedness
from 1850 10 1859 amounted to 1S7 IL
per cent. auu that during the same period
the number Of tenant farmers increased
by 125 per cent From these data, let
us see If We can dedHCe reasonable profIa-
bllty for the current talk of agricultural
prosperity and dsbt-clearug in Kansas,
an due 10 the 1896 advance in wheat,
and its further advance and boom in the
SUMNER or the present year.
during he period when mortgage in
detieauess Increased Isl per cent and the
number or tenant farmers 125 per cent, the
average prlcc or y heat was S2-9T cents per
hushel. what, then. has hsppeDed since
lsSO 10 Tedeem their situation? Their
average burden OF interest on mortgage
has be sn 80 per Cenf. ana since 1880 the
prices Tor ~ heat have gone down steadily
Until. during the late Presidential campaign,
Tor the iIFst time there was an advance,
solely due 10 reports OF coming shortage
m the crops or competing countries. But
on thai DHrsNiJn n did not 70 much, II an Y,
hie ner shan the average prices between
lISD and 1880. resides which. the rise
came TOO late 10 help the farmers in that
vear. A - o the latest advance. IL has oc-
CURED TOO recently To affect Western
Farmers al all, as yet.
Our correspondent Incloses a clipping
from s5ase newspaper showing how the
wheat loom really has been of material
bcnefi to certain specified farmers. From
II one would conclude that Farmer Plerpont
Morgan's crop had heen 100000 bush
els. and his net harvest $3.50 600; Farmer
PHl~bury. OF Minneapolis. is quoted as hav-
ing made SIPS, 00O in a few days. Mr.
Francis Cleveiand's Secretary OF the In
terror. ez-iov. Flower. of New York; Philip
ID Armour, the eminent porkologist Of
Chicago, and several other worthy but
horny-hanaec agriculturaIists from Yap
Greek, HaySced county, are credited with
harvest retarns Of from SI25, 900 up A
prosperity which has been sound and
genuine 10 them may seem, 70 such people,
10 have blessed the whole country.
While that may be 50. IL should not be
forgotten THAT prosperity statisticians, Of
the Republican canpaign-of-educatio
sort, are Just a little apt to overlook Ger
tain things as, for instance, facts con
nected with the Western farm mortgage
business. Our correspondent calls attention
TO one To which The Times repeatedly has
reverted. and that is this: No doubt there
are fewer mortgages ofrecord against Kan
sas farms in 1897 than there have benin
ten or dozen years at least but it is
equally certain that this has come about
by foreclosure sale and dispossession Of
former owners, who, If they have not had
means to leave the State, have remained
as tenant farmers.
IT the prosperity so lavishiy and expen-
siyely being advertised by the goldbug
farming class is as general solid and last
ing as they claim it to be, 1T should be
sound enough 20 stand a little truth once
In a while