Freeland tribune. (Freeland, Pa.) 1888-1921, 1902-12-26
. HE richest individuals in the
United States are not farmers,
hnt fha rinbact a1acc aanord-

iSeih, 10 Tue ldrluluS CLASS. lulS Dull
| letin gives the statistics for 1890, the
latest available, and according to these
figures, the lands, buildings. imple-
ments and live stock of the farmers
| in the United States are worth over
twenty billions of dollars. In COM
parison with this the total manufac-
turing capital in the country, from the
Steel Trust to the smallest factory, is
a little less than ten billions, and the
total value of the railroads, counting
bonds and stock capitalization, is a
little less than twelve billions. The
farmers, therefore, are worth almost
as much as the manufacturers and rail-
road magnates combined. Bradstreet's
notes that the manufacturing products,
| however, outvalue the farm products in
the ratio of $13,000,000,0OO to S5,OOO,-
O00,00O, and notes that "every dollar
of manufacturing capital produces
$1.30 worth of product, while agricul-
tural capital produces less than twen-
ty-five cents worth" How the profits
compare is not stated. Comparing the
farming industry with the railroads,
the New York Financ.er reckons that
the farmer is better off than the rail
road magnate. 1t says:
"The farmer, SO far as actual wealth
Is concerned, is the capitalist of the
United States. The Census Bureau re-
port on the value Of farming property
of the country issued last week, esti-
mates that the 5,739657 farms of the
United States are worth $16674, $780,
PAT. OF this amount $500, 1913, 191, or
21.4 per cent, represents the value of
buildings, and $13,114, ,492, ,056, or SIG
per cent, the value of land and i'm
provements. Farm implements and
machinery are worth $761, ,261 $50, and
live stock $3,07S,O50,O41, making the
total farming wealth over 2O,514 mil
lions Of dollars.
"This is undoubtedly very low es-
innate. but accepting it as correct, 9th
er forms of industry pale beside it in
comparison. The value of the railway
systems Of the United States, approx
imating 100000 miles, is about 1880
million dollars, counting bonds and
stock capitalization, or but little over
half the farming wealth. The rail
ways, in fact, constitute the only sim
gle industry in the country which ap-
proaches, even remotely, the stupen-
dous totals revealed by the census
enumeration Of farming wealth. 1t is
impossible, of course, to compare the
nnprntiOnc nf thaca tyyn Inn, Il
visions Of industry, for the simple rea-
son that they are distinct in their re-
suits, and the items which enter into
one are not found in another. Still, it
Is not without interest to classify as
far as possible the operating totals,
with the idea of affording rough
approximation, at least, of income yield
on investment, etc.
"The railway systems Of the United
States in 1900 reported gross earnings
OF $1,501, ,695,37S, or little more than
12.G per cent. on the total stock and
bond capitalization. The gross farm
income in 1899 was $3,764, 1T, ,7O6, and
the percentage of gross income upon
investment was 1873 per cent. 1t will
be seen that the farming industry made
out better than the railways. The net
earnings of the farmer cannot be cal
culated, but assuming the railway av-
erages as applying equally to both,
the expense of operation ranges some
where around 70 per cent"
Some may suppose that farming is
fhA linz tn,
idea, indeed, is often expressed, and
young men are advised to enter some
other branch Of industry. The Finan-
cier says ON this point, however:
Rapid as the development of rail-
ways has been, however, the rise in
farming wealth has been greater. Thus
the total value of farm property in the
United States in 1900 was more than
hve times as great as in 1850, and
2S.4 per cent greater than in 1890. The
railway industry was in its infancy in
in 1850, so that comparisons extending
back fifty years are unfair, but taking
1890 as basis, it is found that railway
property, as indicated by total capital
ization, rose from 10,029 millions of
dollars in that year to 1882 millions
in 1900. This is an increase of 1875
per cent, or nearly 10 per cent. less
than the increase in the value of
farms. In this connection recent in
vestigation of farm and railway values
growing out of an attempt ON the part
OF the Legislature of Iowa, to increase
railway taxable values, may be cited.
The claim was made that inasmuch
as the railways had increased their
earnings and enhanced share values,
assessments should rise in proportion.
The railways opposed this proposition.
Without denying the facts, they con-
tended that the appreciation OF railway
values had not been as great as the
rise in realty values, and to prove this
a committee Of attorneys representing
the principal railways began an inves-
igation Of farm values. Records of ac-
tual sales Duh1ioly 6Ied chowad tbat