The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-04-10
FARMERS OF COUNTRY
AND THE BIG TRUSTS

day. 1ic is growing Rich. lie has become
a. creditor instead Of debtor. 1ic Is Il
capitalist hunting places 70 invest S ms
surplus. lie has had good crops and GOOD
prices and to-day hts deposits are =, rolling
III like a golden tidal wave, hooding the
western banks With moro money thhn
they can handle. The local banks hre
sending their millions to tho east h' Hl !!
New York Is taking what they ca ca
lend out In tho west. The farmers, no.
satisfied With American investments. ate
sending millions into Canada to buy lands
there, aud still they have money left. IN
deed, what they want most is n SAFE pace
10 put their surplus where II VIII D orls
them n fair rate Of interest"
'Whnt do you mean By fair rate,
Mr.. Secretary l asked.
"Oh, about per cent" replied Mr..
Wilson. THAT Is tho best you can ca-
pect Of money now" M
"Why don't they take UP their mort.
cages. said / mot long ago 1t was said
that the Whole United States west OF tho
Missouri was practically owned by the
savings banks OF New England.
"rhat Is not 80 now" replied Secretary
Wilson. ""Thcsc mortgages have been
paid long ago. and vast sums have been
spent In improving the farms. There nre
mortgages stlll.5it Is true. but they have
been given by the sons of the farmers,
who are now buying farms OF their own"
FARM LANDS AS AN INVESTMENT.
+..Do you consider farm lands a good
investment, Mi. Secretary?
2 II do at the present prices" was tho
reply. Investments differ according to
localities. but any farm that will now
produce enough to carry itself that is, to
pay Its taxes and q low rate OF interest.
is a good purchase. Our public lands
have been largely taken up We are rap-.
idly increasing In population, and the
domestic market steadily grows. We arc
now tho greatest manufacturing nation
on the globe, and the domestic market OF
the future is beyond conception. AS to A
the foreign market. 1t will always take
what we cannot nee ourselves. we are \
farming better every day, and tho busi.s
ness Of farming will be more profitable I
as time goes on. We have some OF the
best food lands on the globe. and are just
beginning 10 appreciate what they will
produce"
TI11RTY-THREE DOLLARS EVERY
SECOND.
.'Iiave you any idea" said Secretary
Wilson as he turned to his desk. picked
I'D a pencil and made some figures on a
~
money Uncle Sans farmer capitalists
bring into this country every year? The
steel trust. the shipbuilding trust. and
ali other trusts are peanut stands in
comparison with it. ! don t mean what
our farmers sell at home, but what they
sell abroad. The amount is 50 enormous
you cannot comprehend IT,.
( / In the decade ending 1900 It was more
than s7.O1O,t1oGl1. or an average more
than 100000 a year. In 1901 our farm
exports amounted to more than 500, 0C0. 600
or almost 10000 for every working day
OF the year. That means slc5.00 an hour,
700 minute or s33 per second Every
time the watch licked on every one OF
the days throughout that working year
sa3 worth Of our goods were droppe,A into
the lap OF Europe and three so gold
pieces started on their way back TO the 4
United States.
THAT was In 1901" Secretary Wilson
continued. Last year our exports were
almost as large. and SO 1t is going on
year after year. You may talk about
your great combinations OF capital. your
gigantic monopoles and enormous trusts.