The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-11

have referred to.
SCIENCE OF POLITICAL ECONOMY.
Now there is also another science, SCI
ence SC related that l think l can apply It
usefully to agriculture; it Is the science OF
political economy. 1t has not been called
science until very recently. Now when I
used the term science, simply mean what
We ordinarily understand by some definite
knowledge, the result of observation of human
experience formulated into rules for the
gulcance OF humanity. One OF the-rules of
political economy, ard one which | think will
guide you In your labors, is to this effect:
that the greater the distance in the process
CT production between the raw material and
the finished product, the greater the profit
10 the producer. very simple proposition
IN itself, truth that We all realize, but 1t
Is we'll for US that these things have been
formulated SO that we can put our finger en-
II. Let me repeat it. the greater the dis
lance in the process of production between
the raw material and the finished product,
the greater the profit TO the producer. Now
all countries are busy, all nations are busy :;
this on the whole is very busy world OF
necessity, no country more than ours, but
II you think of those nations call rich in
this world, those where prosperity and pro-
gross are at the highest tide, you will find
that they are those nations which carry the
process Of manufacture TO it's tarlhermose
limits that carry the manufacture OF iron
far away from the simple pig as human in
genuity can; that carry the manufacture OF
wood as far away from the pine tree in the
woods as possible Here Is pine spruce
tsheet OF paper in my hand; the value OF
the pine in that piece of paper is something
SO infinitely small that it cannot be expressed
in figures In its present form, still pine or
spruce, | do not know which, possibly straw,
it is of great value. Il has this great value
because many processes and a long period of
time have elapsed between the raw material
in the wood and the finished product hold in
my hand.
There is an old adage my friends that
Time is money" 1t is wonderful what.
chunks of political economy and philosophy
there are in these Old proverbs. Time is
money in more sense than one. If you waste
time. that IS its ordinary use in that sense,
II you waste time you lose work, and by that
means you suffer loss; you lose money;
We usually use the adage in that sense. 1t
has another and a deeper Significance; tine
itself is money, especially as applied TO
production on the farm or III the factory.
Time is only another Way CT saying interest.
l haven't time to go into that this morning,
but on reflection you will find it true; time
Is interest; interest on capital Is the difference
between the present value of the capital and
its valu il future time. That is interest.
II is the equivalent of time
ILLUSTRATES HIS POINT
Now, to illustrate my point. Supposng a
farmer has 2-year-old steer-they rarely sell
them before they are years old; some times
they sell yearings; l think it is a very poor
PRACTICE. The farmer has a 2-year-old steer;
ne sells that 2-year-old steer for, say, $50.
CT increasing the value Of that steer, the po-
tentiality of growth you might call it. but
he loses the interest on that $40 $50 during
the period that that steer might be develop
ing, maturing to its greatest commercial
value. 1t is true he may use the money
somewhere else to gay debt and save in
terest; Cftentimes he doesn't; oftentimes he
could get along without it, but there is dis
tinct loss. The farther you can carry the
production the farm, as well as in the
shop. away from the raw material the more
time it consumes, the more of the increment
of time. the more interest you add to the
product and the greater your gain. to say
nothing about compensation for Dor and en-
ptoyment to maintain it in the meantime.
Now, just to illustrate by this fact: 1t is
a peculiar thing, but it is true that the d.
velopment of industry on the farm, in agri-
culture as well as elsewhere, is continually
away from the material to higher
grades of production. Why, we did first like
the old Egyptians but instead of stirring
the Nile mud, as they did with stick, we
had the steel pow to turn over our praIries
and raise wheat. 1t was very probable for
time, and it is still profitable
BEIIEvES-IN WHEAT.
I am one of those who believe in wheat
raising. We will always in my Judgment,
raise great deal of wheat in this state, and
proftably, but, nevertheless, as an employ
ment for our entire population and for all
of our farmers, 1t was found TO be less
profitable than method of production that
product that created greater distance be-
tween uhe raw material and the finished
product. We went into dairying for one
thing, There you have the crop. 1t takes
time to feed it to the cows. 1t takes addi-
tional time to milk and to gather the cream
and to produce the butter ard get the butter
to the market. There you have additional
labor which in the long run beGets prosperity
more or less, depending upon competition and
market conditions. You invest more labor
in your product, more time, hence there is
necessarily greater profit. only use this as
an Illustration. The same is true of hosre-
raising; that is, raising horses, not racing
them. Qaughter) The same is true of
raising stock. Now, I think your own read
ing and observation will agree with me- that
it has been the history of all countries that
there has been a gradual stepping from ons
stage of agricultural production to another
For instance, in Holland they started in orig
fnally making butter the same as we are
doing IN Minnesota today. So Switzerland at
one time was famous for making butter. To-
day the great butter producing countries in
Europe are Denmark and Sweden; but the
knowing Dutchmen coon found that if they
carried their process of-turning milk into
money one grade further kept 1T along added
more labor, more time. there would be more
money in it, SO they went to making cheese
The cheese manufacture has succeeded the
manufacture of butter in every country in
Europe and, for the reasons suggested, it is
place in this state. Now, this is venturing
good deal for a new governor to make that
prediction, but l make it, and I make it to
you today, that cheesemakfng is Just as
certain in the course of time to succeed the
present butter-making in Southern Minneso-
ia as 1T is that We will continue to raise
grain and raise stock. Why? Because there
is necessarily, in the nature of things. more
profit in it.
Gov. Lind was warmly applauded at
the conclusion of his address
PRAISE FOR AMERICAN TROTTER.
why 1 Staid in the Horse Business, y
was the subject of an address delivered
by I. c. Seeley, of Minneapolis. In
opening Mr.. Seeley read a letter from
FIJI. Berry, of Chicago, praising highly
the American trotter," as compared
with the hackney and coach breeds of
imported stock. Mr.. Berry was one of
the largest dealers in the United States.
Mr.. Seeley said. The letter was as fol-
lows:
Dear Sir: The horse question Is a great
and leading one The horse industry today
IS one Of the leading industries of our great
America There is no business that car
be carried on in the stock line with nsore
| profit than the horse business when proper
| ly managed, and with the right knowledge
| Of the business and the proper system t.
produce the horse that the market demands
| An horses must have size, shape and quail
| You speak of the Hackney and Coach
| breeds. l want to say to you that there Is
no Hackney or Coach breed that compa res
with the American trotter-I do not NEAR
| the small. unsound and low grades of trot.
! ters that have been produced for many years
| past mean the proper selections of large
| handsome trotting families that have size
| shape, quality and action; horse tha. has
| no action Is of but little value The Amer.
| can trotter has been crossed with the French
! coacher with good results. The Hackneys are
good horses but they have not been success
| full in this country; therefore, 1 say, tha
| for road coach and carriage horses, breed
| from the blood of the American trotter witt
| the right selections. size, shape and quality
and they will prove a great success II man.
aged with the proper Judgment and witt
| the right selections there can be produced |