Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1910-07-21
PROSPERITY IN LAND
Dollar Wheat, Ten Cent Hogs and Sixty
Cent Corn are Factors.

Dollar Wheat, Ten Cent Hogs and Sixty
Cent Corn are Factors.
A banker being asked for his OPT
Mon why there is such an enormous
demand for grain-belt farms an
swered: 'Dollar wheat, ten cent
hogs and sixty-cent corn are primari-
ly the reasons. Nothing except ma
tlonal disaster can make any great
slump in western land values, pro-
yldlng, of course. the rain continues
to fall and the sun to shine.'
The prosperity of the grain-belt
farmer and the widespread and con-
tinued demand for land are being ex-
tensively commented on in eastern
financial circles. The fact that
grain-belt farmers own $4,000 auto
mobiles, that South Dakota farmers
alone spent 81 900, 900 for motor cars
last year and that half of the $4,000
automobiles, owned in Iowa belong
to farmers has impressed the finan-
ciers even more than the striking sta
tistics of the increased productive
ness of erain-b belt farms. Nor is the
demand for the automobile looked on
in these circles as an extravaganza.
More and more it is coming to, be
realized that the auto is a labor saw
ing and time-saving machine and
that the farmer can richly afford to
invest his money in it.
If any financier had any doubts as
to the stability of his western agri-
cultural customers it Wonld be dis
PEELED by the recent statement of
large insurance company that it has
in the course of it's existence bought
over $30,000,0 900 worth of farm mort !
cages, on which more than half has
already been paid off. The striking
part of the report is the statement
that on this entire investment there
has not been lost a dollar Of either
principle or interest and not an acre
of land acquired by foreclosure. One
third of the total assets of this insur-
ance company goes into farm mort
cages. Two other life insurance COM
panies report that they have farm
loans aggregating $11S,879, 900. These
reports are interesting in that they
disclose that the average amount In
dividual loan has increased from ST.
500 in the year 1900 to $1,000 in the
year 1905. Practically all these
mortgages represent money borrowed
for investment in farm lands.
1t is within the memory of men not
yet old that grain-bel farm mort
cages were looked on askance in
eastern financial circles, but it Is q
fact that today no better security is
desired by the capitalists of the east
than these same mortga ges which
were questioned few years ago.
The money secured by these mort
cages is almost invariably put back
into the land. Senator SmOot sum
med up the situation when he de-
clared in congress recently that ;'.'the
financial condition Of the grain raiser
of the Northwest, the general farmer
of the middle West and the cotton
planter of the South is better than
ever before. Financially the farme r
has become independent. The fact
that SO many millions of dollars con-
tinue to be loaned on grain-belt farms
is not sign that this independence
the farmee has been postponed or
that he is dependent upon capital for
his welfare, but is a sign that the
operation of the land has become so
successful and SO profitable that it is
being everywhere recognized not
only as a means of livelihood but aa
a scientific businesstand that the cap
tains of industry are glad to cooper
ate with the tillers Of the soil in a
profitable o-partnership.
The only danger in the rush for
land lies in the fact.that some of it
may be allowed to lie idle. A recent
magazine writer declares" There can
be no escape from the danger Of any
land speculation on large scale
which does not Immediately increase
production of crops in return for
money locked up" So long as the
land is titled scientifically and the
utmost effort expended to make acre
produce to the maximum extent SO
long will the cooperation Of the
capitalist and the farmer prove
profita BILE.
MEDICAL SECRETS REVEALED &.
Baltimore American: A speaker at
meeting of a medical society in New
Jersey declared that some Of the great