The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1898-07-27
BRIGHT
OUTLOOK.
A Great Year Promised for
Farmers.
Results Of an Inquiry Into Agricul-
turaI Conditions.
The United States Has at Last Become
Creditor Nation.
MONEY GETTING MORE PLENTIFUL

abroad has been conducted by the
Orange Judd syndicate Of agricultural
weeklies. 1t leads TO the conclusion
that America in particular and the world
in general will see several years Of good
times based upon the bedrock OF agri-
cultural prosperity.
One thousand million of dollars will
hardly measure the increase OF the far
mer's receipts for the last years produce
over the values that prevailed as late as
1896. More than 500, 1000, 900 of farm
mortgages have been paid off in the past
two yeas Millions in chattel mortga-
ges have been wiped out, and the paying
up of all other forms of indebtedness has
become almost a mania in the west
This has been attended with such an in
crease in bank deposits that throughout
much of the trans-Missouri country in
terest rates on farm loans are down to
from to 8 per cent, contrasted with
from 6 to 10 per cent, as late as two
years ago. These gains in the west are
largely responsible for the vast increase
in national bank resources of more than
81, 900, 100000 since the low point OF
1893, and more than 800 900, 900, during
the past twelve months.
The two wheat crops OF 1896 and
1897 have returned farmers nearly twice
as much as the crops Of 1894 and 1864
gain of more than $40O,000,OO0. Corn
shows a decline OF some $500 900,
but these two staples alone make net
gain of nearly $3.50, OOO,O 900. The United
States wheat exported during the past
twelve months sold for about as much as
the whole crop was worth in l893.'94 '95.
While the agricultural exports of the
past twelve months reach the neighbor-
hood of 5000, 900, by far the greatest
on record, this was largely due to the
phenomenal crop shortage abroad.
Hence the American A9riculturalist
bas' its conclusions on the past two
year and four-year periods rather than
upon single seasons exceptional con-
ditions. 1t compares the last four years
agriculture and export with those OF
1878 81, which ushered in the brilliant
prosperity Of the early eighties and con-
cludes:
eve look for an industrial activity
early this fall quite unparalleled, with
qnick markets at home and abroad for
the surplus OF American farms. We find
no reason TO anticipate higher or fancy
prices for produce, but with economy in
marketing and production brought about
recent improvements and having regard
also to the cheapness OF manufactures
also due TO inventions) and the ease OF
money, our deliberate conviction is that
the American farmer is to have the
largest prosperity he ever enjoyed. This
forecast is measured by the standard OF
the present. by the exchangable power
OF farm products for products OF labor in
other vocations.
The balance OF trade in favor of the
United States during the past two years
is more than $l.000,OO0, 900. From the
resumption of specie payments up ia
July l, 1898. the United States have i'm
ported some $5O,OOOOO0 worth OF gold
more than it has exported, to say moth
ing OF the large additions Of gold from
American mines, amounting to from
$50, 900 to $5O,OOO.OOO yearly. This
,.,;th tha sxo anaa axoaaa IF m aro M a oe
exports may we'll raise the question
whether the United States have not
practically paid up their foreign obliga-
tions, what they owe abroad being offse
by what foreigners owe our people, &c
that the United States may enter upoI
the new century a creditor nation.
There is a brilliant promise for the
largest tonnage of crops this year ev- 1
produced in America. Prices bid fair Il
be reasonably we'll maintained, com
pared to the low values OF 1892 5, indica
ting total return for staple crops alone
OF 81 900, 900, 900 more this season thar
last year. Railroads may justly expect q
large traffic, and &C me remarkable figures
are given as to the earning capacity o
railroads under assured conditions. Ever
IL the world should have bumper whea
crop, It's supply for the two years ending
July 80 next would be some lOO,OOO,OOC
less than for the previous two yea
period OF advancing prices, indicating
that the fair prices paid for the 1885,
crop (lrom 90 to 90 cents at Chicago) arr
likely for the present crop.
The advance in the value of agricult
ural land is noticeable, with more activ
buying demand for improved land il
view OF the comparative scarcity OF pub
lie lands The live stock industry !
sgain fiourishing, with great revival h
the breeding of thoroughbred stock
$500 10 $500 being r. quently paid 70
breeding animals OF the best beef breed
and as high as $1,000 for bull an'
81, 500 for COW.
"rhe strongest possible confirmation
OF these results and future prospects,.
says the American Agriculturalist. II
afforded by our returns from the ms
johty OF the leading firms In all branchs
Of the agricultural trade, particularly ,
~. ....f.~.. al. x.fIIIa nlalaa Mot 4