The Norfolk weekly news-journal., 1907-12-06
CORN is KING.

CORN is KING.
w. w. Jermane, Washington cores
pendent of the Minneapolis Journal,
has been investigating the cause and
effect of the recent financial furry, and
he concludes that the American farm
er Is more than seven billion dollars
above and beyond being to blame for
the tight money situation which has
been bothering everybody else.
While the business of the United
States has been checked because the
banks of New York have held billion
dollars of the country's money tied up
in marginal speculative securities, and
have declined to release the money
until they could do so without loss, the
secretary of agriculture has been pre-
pairing figures to show that during the
past year the farmers of the United
States have brought into the country
more than a billion dollars of foreign
money.
While the parasitical Spectator has
been paying usurious rates for money
and has produced nothing, the farmer
has done nothing but produce. In the
past year raised $7412,O 100000 worth
of farm produce. A large share of
this has been sold, billion dollars
worth of it abroad, and the money
placed in the banks all over the coun-
try. Then these banks, attracted by
the interest rates in New York, have
since so faded in value that if collec-
ton were forced a good many people
who are not used to it would have to
go to work for living.
The figures about the farmers cited
are from Secretary Wilson's annual
report. The report has other state
ments revealing with equal eloquence
the desirability of the farmer as a citi-
zen, but offering no arguments in favor
of the desrability of the stock gamb-
Ter. Thus it is shown that eight such
corn crops as that raised in the Unit
ed States this year and sold at the
price this one is bringing, would build
every foot of steam railroad in the
country, including all the expensive
terminals, and pay for every particle
of property of whatever name or ma
ture owned by these roads, but nothing
is cited to prove that the original pro-
ductiveness of stock market would
or could build a railroad in a million
years.
The total value of all that the farms
of the United States produced In 1907
is 10 per cent more than the value for
the total production of 1906, although
the crops this year have not been quite
as good as last year. The total value
for 1907 is also II per cent more than
in 1905, 20 per cent above that of 1904.
% per cent in excess of that of 1903
and 81 per cent greater than the total
vaule for 1899. The total farm ex.
ports for the year have been $1,055,.
100000, or $79,000OOO above the high.
est previous record.
Corn is king, accoring to the sec
rotary. 1t is the chief crop of the
United States, whether measured in
money value or in variety Of services
performed. The value of the 1907
crop is 26 per cent greater than the
average for the past five years. The
next best crop, from financial point
of view, is hay, although it may be
that the final estimates will give sec
ond place to cotton, which is coming
strong. Cotton raised in 1907 is valued
at $675, 100000 and it is the mosts val.
liable crop ever produced in the coun.
try. The wheat crop for the year is
valued at $500,000,000, which is So
per cent more than the average for the
last five years.
Other crops have also done well in
the way of making the mere speculator
look like the unnecessary dead beat on
the national band wagon, which he is.
Thus the alfalfa crop amounted to
$lOO,OO0,OO0, Sugar, molasses and
syrup brought in almost as much more,
oats, $3GO,OOO,OOO; potatoes, $4,000
900; barley, $115,OOO,OOO; tobacco,
$67,OOO,OOO, but this would have been
at least $1OO,OOO,OOO If the tobacco