The mirror. (Stillwater, Minn.) 1894-1925, 1905-10-19


"HAT the common people be-
lieved with the originator of
the phrase, "Land is the basis
of all wealth." was evidenced
in the mighty scramble for the farm
lands of the Northwest that began
about five years ago. For it was
rush of the common" people who
wanted piece of Gods footstool that
they could call their own. For this
reason the element of speculation, ex-
cept in its earlier stages, was largely
eliminated. The purchasers, generally,
were those possessed of only a few
hundred dollars, who bought with the
intention of making home for them
selves or their children.
Unlike it's predecessors, this s"boom"
was not of the skyrocket order; values
did not ascend with lightning-like
rspidity, and then, shortly, descend just
as quickly. That there was substan-
tial basis Tor the values which this re-
cent activity in real estate developed,
has been established beyond question,
tho these same values are now on a
decline from the point reached during
the height of the recent boom.
The states principally affected In
this last rush were Minnesota, and the
Dakotas, and practically all of North
ern and Western Canada. The first
effect of appreciation in values was
felt in Northern Iowa and the south
eastern part of South Dakota. 1t may
not be generally known that the ex-
trems southeastern part of South
Dakota contains some of the finest
farming lands in the world; the only
exceptions being lands bordering on
the Missouri River where an owner is
not certain when he retires what state
he will find his property in on arising
in the morning, owing to the frequency
with which the Missouri changes its
channel.
The course of this boom was some
what errstic, affecting, as first stated,
Northern Iowa and the southeastern
part of South Dakota; it then swooped
northward with rush and within six
months had reached the Red River
Valley of the North, embracing both
Northwestern Minnesota and Eastern
North Dakota, where an increase from
six to twelve dollars an acre was the
immediate result. Owing to late and
very wet spring, but with no apprecia
BILE decrease there in values, its course
was again diverted and back it Travelled
to Southern Minnesota and Eastern
South Dakota, the scene of many g
disastrous boom.
Without question Eastern Soutf
Dakota holds the center Of the stage
for real estate booms, the majority o.
which have resulted disastrously
The last one being the only notable ex
ception. 1t has been the Waterloo O
the homesteader, the little speculator
the big speculator, the trader, th'
mortgage holder, the land shark ant
the artesian we'll promoter. 1t Ger
tainly has much charged to its loss &C
count fromthe effects of which 1t is q
last honestly endeavoring to delive
itself, seemingly with good success. l
has developed rapidly, and from
land of which it has been said: "Yo,
couldn't raise disturbance on it any
where" Many increditable stories o
it's instability and unreliability ar
related, chief among which is the fo
lowing that aptly points out It's stand
ing dozen years ago. Ahomesteade
OF the central part of the state return
ing from town met neighborin
homesteader with his family and fe,
household goods packed in the olt
time prairie schooner with which th
initial trip to that country had bee
made. Following the schooner was
measly-looking calf about Ave month
old. On asking the reason for the O
parent departure and as to how Il
calf Was obtained, the homestead