Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-11-28
WEALTH IN NORTH DAKOTA.

4
WEALTH IN NORTH DAKOTA.
Business Conditions there now ON
a Solid Basis.
North Dakota banks have more mon
ey than they can keep employed in the
state. The home demand for loans Is
taken care of, and the North Dakota
banker is looking for new fields ~
which to employ his surplus funds. The
business interests of the state are on
tolid ground. Receipts from wheat and
flax have alone been great enough to
pay the farmer a handsome profit on
his investment and his years work.
Farm mortgages are being paid, the
merchant is wiping out the balance
against him on the books of the whole
sale house, and interest rates are de-
Ginning. Local capital is beginning to
develop some of the native resolces or
the state. Taxes are being paid very
promptly, and the finances of the COM
T onwealth are in the most satisfactory
condition In it's history.
Less than ten years ago the North
Dakota farmer was petitfoning the
banks and other money loan@rs for
help the year round. Interest rates
were high. The problem was to coax
the money from the East, and in some
centers the name Dakota did not al
ways command confidence and funds
A great change came IN 1895. Land
values in North Dakota began. to ad-
vance. So great was the revolution In
sentiment that when last year brought
partial failure of crops, Eastern mon
ey was plentifuly offered for loans and
investment. This year a large per-
| centage of interest was paid before be-
coming due A large amount OF mort
gage indebtedness is being discharg ed.
The mercantile interests of the state
by the close of the year will be in the
oest condition in it's history. Where
out a few years ago the farmer petit
Toned the money loaner for help and
tile merchant for credit, the money
ioaners and merchants are now can
vassing the farmer for his business.
Business methods in North Dakota
are undergoing a steady but certain
change. The gradual advancement of
The state toward a substantial Gran
/ cial basis has been accompanied by
new conditions that are permanent. AS
n any new country devoting its energy
70 single crop, as North Dakota has
to wheat, long credit is the ru"c. The
farmers account with the merchant
extended through many months. The
mel chant, in turn, was forced to ask
accommodation from his hank and the
wholesale house, in order to extend
credit to his trade. The years business
las been done ION accounts" October,
November and December were the
months in which accounts were PAID,
the only months in which money, the
real thing, changed .han6s to any ex-
tent. To the North HaSota merchant
the golden age ahead wSs the daV
when the farmers requests for credit
would be limited, and ne would thus be
able to discount his bills during the
summer months, or at least pay them
when they fell due.
Flax has done much for North Dako-
ia and her people. On it's culture the
state has realized an elegant profit. IL
has taught North Dakota farmers that
wheat is not the whole story on a
farm, Just because the farm is located
in the Northwest. With this change IN
ideas has come the determination to
follow the lead further. The imml-
grant from Iowa, Indiana, Michigan
and Illinois has made war on the SIN
gle crop idea. Slowly but surely the
creamery industry is crowding its
frontier into the state, and While long
credits will continue to be feature or
North Dakota business for some years,
the days of "ready money" in the sum-
mer time are gradually becoming re-
ality to the North Dakota farmer and
business man.
The 500 road will continue to play an
important. part in the development OF
Ncrth Dakota. The 500 already has a
large mileage in tn estate, and the ter-
ritcry tributary will be developed rap
idly. 1t is reasonable to expect that IN
it's efforts to increase it's revenue ana
traffic the 500 will make some import
ant extensions in North Dakota. The
extension to Bismarck is not far Off
The temper of the people of the Red
River valley is such. and especially
those of the city Of Fargo, that every
effort will be made to persuade the 500
to enter the valley No extension that
the 500 can make would be more profit
able than it's extension into the Red
River valley, and on through the CEN
trail and northern central parts of the
state. The Great Notthern and the
Northern Pacific will undoubtedly
make rev extensions within the next
few years, but there is nothing which
gives the people of North Dakota more
comfort than that the 500 is in condl-
ton to gradually extend its lines over
the state, and the further fact that ev-
cry extension can be made good rev.
enue producer.
NUCLEUS FOR ST. LOUIS.
In