The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-01-03
AMERICAN FARMER
SUSTAINING POWER
Secretary Wilson Says There
Will be No Panic
GOOD CROPS PREVENT II
In the South the Farmer Who Raises
Even Small Crop of Cotton Has
Provided for Himself, Says
Mr.. Wilson.
GOOD CROPS PREVENT II

Washington, D. c., January 2-(SpeeiaD
Mr.. James Wilson, Secretary of Agri-
culture, was asked by the Herald fol
his views as to the sustaining power OF
the American farmer in the race of great
business depression caused by the de-
probation of securities in Wall street.
ITO one fimiliar with the situation, .
replied Mr. Wilson, at must appear that
there will be no panic in this country now,
so long as the farmer of the United
States is able to produce good and salable
crops The American farmer sustains the
country and feeds a great portion of the
world. He is virtually independent of any
other class.
Let me premise by giving a few figures
from my annual report just issued. From
1880 to 1890 the average of exports of
farm products was more than $7OS 600,
900. In 1901 they were 1852, 100000. In
1903 the surplus, which we did not need
in this country and was sold abroad,
amounted to $s7S, 900.
ut was the farmer who kept the bal
ance of trade with the United States.
Excluding the products of the farm
there was during the period from 1890
to 1902 an annual adverse balance of
trade amounting to 62,0OO000. Including
the farm products this balance Is wiped
out, and we had left $275, 900, 600 to the
credit of this country. During 1903 there
was an unfavorable balance of trade in
exports and imports other than those of
the farm, which amounted to $50, 000 000
but when the farmers part in the inter-
national commerce is included the ball
ance in our favor is just about 1857, 600 coo.
lndependant of the Banks.
Here you have the tremendous re-
serve sustaining power of the farmers
of this country. They are the people who
pay the foreign bondholders.
Il will tell you that the farmers are
of the banks, the money lend
ers or anybody else They are prosper
Gus, In the east anybody can see it for
himself. They are getting good prices for
their grain, hay, milk, butter, cheese,
fruits and other produce. Think of the
prices for eggs and poultryl Then they
have the advantage over their western
brethren in not having the long haul and
heavy freight rates.
THE farmers of the west were never
in such easy circumstances. Their crops
have been good, and the demand from
abroad has been such as to keep the
prices at a comfortable figure. This is
true of everything the farmer raises to
SELL hogs, cattle, wool, &c.
ION the Pacific coast the story is the
same There is trade in opening with the
Orient, and there the farmers have the
advantage of a soil which will raise al
most everything, including fruits which
outsell the tropical fruits and which can
be sent across the country and shipped to
Europe at profit. They are doing
splendidly
Prosperity in the South.
I'm the south the farmer who raises
even small crop of cotton has provided
for himself. Tobacco was never in
greater demand. The south is rapidly be-
coming as prosperous as those other
sections of the country which escaped the
of civil war;
But many men are predicting hard
times for next year. What is your view
Of that as one acquainted with farm con-
dtions?" Mr.. Wilson was asked.
There can be no hard times, such as
Wall street predicts" he replied, 80 long
farmer is an optimist. In the west the
banks are bursting with farmers money.
The farmer has luxuries such as one
would not have dreamed of seeing in a
farm house twenty years ago The
farmer often has telephone in his house.
His daughter has 3 piano, and goes to
boarding school. The children have BIZ
cycles.
II am told that there Is between $780,
$1,000 and $500, 100000 of farmers money
N New York banks or on loan. From
Iowa alone somewhere in the neighborhod
IF s60.O00000 has been sent to Canada to
purchase grazing and farming lands.
The western farmer in looking for good
Investments.
Assurance for Investors.
and let me tell my views about
another thing. There Is much talk In
your Wall street about the timidity of in
Money is scarce at times, and
he market says. There is a difficulty
about getting money to float this and
hat great enterprise. Men will not go
nto them because they have been hum
plugged before. So the cause of Rotation
anguishes. and the promoters look to
Indifferent success.
=
II the Bureau of Corporations of the
Department of Commerce and Labor had
been organized long enough to give to the
public an idea of the stability of cor
which are seeking for the con-
idence of the investing public long
,nough to assure the farmers of the west
hat they were good and reliable invest
nents, instead of sailed mines they
would supply the money to set them
,oing If the farmers had some means
# knowing that the International Mer-
,antle Marine was substantial and a
good investment which would pay divi-
lends, they would put forward the money
o float it. | only specify that as an
Illustration, but | mean what / say, and
hat is. that If the schemes of Wall street
we're not regarded with suspicion-not al
ways well founded, If you please-the
money would be Invested there,
md then, where would be all these pre-
Lotions of panic because water is
queezed out of the stock? AS 1t is, the
armer is going ahead attending to his
business, putting his money wnere 1t will
,e safe, and he does nor care whether
hey are squeezing water out of stock
n dumping it in.
To Keep Farmers Prosperous.
Steps are being taken to keep the
armers prosperous, even If some crops
hould fail. There are many questions
hat have to be seriously considered and