The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-25
THE FARMERS PROSPERITY.
Optimistic Prediction as to Agri-
culture.

Optimistic Prediction as to Agri-
culture.
Springfield, o., Letter in New York Post.
The Hon. John w. Bookwalter. of this
city, long thorough student Of agricul-
tural conditions. and one Of the best posted
men in the country on such conditions as
seen from the Middle West, was asked by
the Evening Post correspondent for his
views on the countrys industrial outlook:
New York" Mr.. Bookwalter said. sis
face to face with disturbance which has
been hard to explain. Money has left the
metropolis in large quantities. and it is slow
In coming back. A large amount of 1t will
not return Investigation shows that mil
lions of dollars have been sent West for
investment in farm lands.
The era of cheap grain, in my opinion,
will never return Demand in agriculture
has caught up with the supply. Nature is
restoring the equilibrium between the agri-
cultural and the nonagricultural classes.
The golden stream that has been pouring
into New York has, like the tickle Missouri,
changed its course, and is now rushing back
to the West, where it had its source. Money
that has been leaving the country's finan-
cial capital does not return with the free
dom it once did. Overcapitalized companies
once attracted the Nations wealth. The
tide has turned, and the flow westward to
profitable investment in farm lands is grow
ing fast in volume.
"This is the dawn of the farmers day. A
struggle between the urban and the rural
population of the country is in the initia-
tive. In population the two elements are
about equally divided. While they are half
the widest divergence. The total wealth of
the country is estimated at SIS, 900 600 900.
OF this but $4,000 100000 are in the hands
fourth of the total wealth of the country.
This inequality did not always exist. Prior
to the civil war wealth was measurably
about equally divided. The separation be-
gan with the imposition of the high tariff
and the adoption of the Immigrant system.
which in almost one generation developed
an area equal in productive capacity to that
which required in the East several CEN
THE one made the farmer buy at the
highest prices, while the other made him
sell at the lowest. Millions of acres of cheap
land in a few years began furnishing the
world breadstuffs, and as it did so the value
OF every acre of Eastern farmland was cor
respondingly impaired and cheapened.
Year after year, however, the land was
rapidly taken up. Eventually the entire
supply was exhausted. With this exhaus-
ton came slow but gradual rise in the
price of cereals. Demand now follows
practically no more public lands to fail
back upon. Grain will remain high. The
farmer will take the place in the world fol-
which he was destined and which he once
did occupy.
1.-The prices of agricultural products will
never again fall to the low level of a few
years ago. Capitalists, aware of the situa-
ton, are now reaching out to buy farm
lands. They know there is no safer or bet
ter investment Land cannot burn down
There is no element of risk in holding IL
This investment has taken money by the
millions away from New York. 1t will not
return in the same volume as heretofore
New York's financial stringency is largely
explained by the fact Not only New York
but Chicago is distressed. Out in Topeka
Kan, a newspaper dispatch the other day
related there is "A modified stringency, such
as now affects the two large cities named
out there. Money is going out to Kansa.
into farm lands.
THE change, the cause Of the stringenc,
Of to-day, means redistribution of thu
worlds wealth. That taken from the agrf
culturist by discriminating legislation anl
acts will return to him through the opera
ton of natural laws. The time may not b,
far distant when the East will want to gC
to South America instead of Kansas an(
Nebraska for its beef.