The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-07-21

United States VIII Make Its Influence
Felt for Years to Come-The wipine
Out OF Indebtedness i'm the West Ha.
Resulted In the Taking Up of Millions
of Mortgages-Increase In Deposits.
New York. July PA comprehensive
inquiry into the present agricultural
conditions at home and abroad has been
conducted by the Orange Judd syndi-
cate OF agricultural weeklies. IT leads
20 the conclusion that America in par
ticular and the world in general will
see several years OF good times based
upon the bedrock Of agricultural pros
perity. One thousand million dollars
will hardly measure the increase in
the farmers receipts for last years
produce over the values that prevailed
as late as 1895. More than 100000. 0Oo
Of farm mortgages have been paid off
during the past two years. Millions in
chattel mortgages have been wiped out,
and the payment Of other forms of in
debtedness has become almost a mania
in the west
Increase in Bank Deposits.
This has been attended by such an in
crease in bank deposits that through
out much of the trans Missouri country
interest rates on farm loans are down
to from 10 per cent. contrasted with
from TO 10 per cent. or more as late
as two years ago. These gains in the
west are largely responsible for the
vast increase in national bank re-
sources of more than $1,000. OOO. 900 since
the low point of 1893. and more than
$4O0, 100000 during the past twelve
months. The two wheat crops of 1886
and 1897 have returned farmers nearly
twice as much as the crops of 1894 and
1s95-a gain of more than s400. 600 600.
Corn shows a decline OF some SIS, 900 900,
but these two staples alone make a net
gain Of nearly $3.50, 900, OOO The United
States wheat exported during the past
twelve months sold for about as much
az the whole crop was worth in 1885,
1894, or 1895.
The Greatest on Record.
While the agricultural exports Of the
past twelve months reached in the
of $500, OOO, 600. by far the
greatest on record, this was partly due
10 the phenomenal crop shortage
abroad. Hence the American Agricul-
turalist bases its conclusions on the
past twO-year and four-year periods
rather than upon a single seasons ex-
ceptional conditions. II compares the
last four years agriculture and ex-
port with those Of 1S7S-s1. which ushered
In the brilliant prosperity Of the early
eighties, and concludes:
we look for an industrial activity
early this fall quite unparalleled. with
quick markets at home and abroad for
the surplus Of American farms. We
ind no reason TO anticipate higher or
fancy prices for produce, but. with
in production and marketing.
brought about by recent improvements.
and having regard also 70 the cheap
ness OF manufactures (also due TO in |
-entions), and the ease of money. our |
deliberate conviction is that the aver |
age American farmer is 10 have the |
argest prosperity he ever enjoyed. This
forecast is measured by the standard |
II the present, by the exchangeable |
power Of farm products for the prod /
tets OF labor in other vocations"
Balance of Trade 81 900 100000.
The balance OF trade in favor Of the /
United States during the past two years
s more than 81, 0OO. 900 900. From the /
resumption Of specie payments up to |
July i, 1898, the United States has i'm
)orted some s50.00O,000 worth of gold |
more than was exported, to say moth
ng Of the large additions Of gold from
American mines, amounting to from
80, 100000 10 $50. 900 yearly. This,
With the immense excess Of merchan-
Use exports, may well raise the ques-
ion whether the United States have
lot practically paid up their foreign OBJ
lgations. what they owed abroad being
INSET by what foreigners owed our peo-
lie, so that the United States may en-
er upon a new century a creditor ma
ion.
Largest Tonnage of Crops.
There is brilliant promise for the
argest tonnage Of crops this year ever
reduced in America. Prices bid fair TO
'e reasonably we'll maintained. COM
AIRED to the low values Of 1925. indi-
ating total return for staple crops
lone OF s1OO,0O0.000 more this season
han last year. Railroads may Justly
xpect large traffic, and some remark
bic figures are given as TO the earn
lg capacity Of railroads under assured
onditions. Even IL the world should
ave bumper wheat crop it's supply
DR. the two years ending June 30 next
'ould be some 10O.O00,O00 bushels less
han for the previous two-year period
advancing prices, indicating that the
iir prices paid for the 1896 crop (from
cents to 80 cents at Chicago are like
- Il