Omaha daily bee., 1915-07-05
The DOwntrodden Farmer

------------- Andrew T. Frame. --------------
T NDER the head Of Farming Prorts~ etc.. you
" quote some rather amusing statements from VAR.
Gus sources ar the down-trodden condition Of the
Even the United States Department OF Asri-
culture bemoans hundred farmers in In-
diana Illinois and Iowa. after investigation, showed
but per interest their capital Investment.
plus Ns year, plus house rent and food supplied
by the farm, for their labor and management
Let us see about this being a calamitous condition
in a comparative sense. by taking. not narrow view
OF individuastic experiences they count for little
in diagnosing any broad subject. Extremes not
evidence on which To base rule Of reason and both
extremes ever and viii be with us TO the
end OF time. But TO the point.
According TO the United States census report Of
1910 indicates the total values OF farms stock.
chnery etc. IN 1900 valued at Approximately @So0
millions OF dollars In 1910 these values were approxi-
mateiy 1900 millions OF dollars. An increase Of 100
per cent In ten years does not appear good ground
for lamentation
Again. The report OF the commissioner OF internal
revenue for 1913 shows that out OF 1890 corporations
in the United states only 1885, see reported taxable
income, thus leaving 1ooaS corporations without tax
able income for 1913
This report further says the net income amounted
to but la-i0 rer cent upon capital stock bonded and
other Indebtedness
BY comparison the farmers az a whole, do not APP
to be headed toward the bankrupt court even n
lacking in thrift too fond Of the ardent
heading that way. Farmers percentage % profits
better than business proffts
surely large interest that doubls its assets
In ten years farmers did IN ten years, ard eat,
drink and be happy too out OF the income is to be
congratulated.
Your letter quotes "An Example In Successful
Farming" Permit TO add two from life;
recall untutored customer OF this bank, VINO
could Just write his name. who bought from me
forty acres OF low land for $780, twenty years
lie gave for payment mortgage on Il and In
cuded small piece his other holdings additional
security. At that time he was not worth over $500
he astonshed He has been buying real estate
since and owns two three farms. covering sew
erai hundred acres. and il worth at least $4,000
charged him over per cent for money He paid
whenever he had the money to spare and that was
often.
Second. Seven years ago one Of our customers
bought iOo-aore farm near waukesha for $1,000 He
paid cashali he had-S3000. loaned him Il. s47oo
He gave a second mortgage for the balance s2,sOo
Today he Ia worth from s260oo 10 $4,000 ana
man anything Thrift and dairying did H. He paid
per cent for loans and reduced the principal at his
pleasure.
This rule Of paying at any interest date any rea-
sonable principal has been good with Ne for
fifty years upses OF the theories OF the long
time amortization loan plans much parHded before
unsuspecting public These amortization pleas arc
largely for votes for in the great garden
sections developed country. Our Thousands OF
Independent banks for farmers generally and for
any one 10 suggest TO live farmers In well settled
sections that they borrow any long time amorti-
aattOn piAns Wonlo get colu suOuiOoF tnhtautNrs
Daggards only want II.
Last week attended Guernsey Breeders ASSOC
ciation" meet at a farm house a. few miles from
waukesha counted sixty-fve motor there and
only ten single buggies drawn by horseesh. Lot the
poor farmer. Here he pays per cent for money on
first class loans-the same merchants DO. In the
con he 10 20 70 cent Merchants likewise II
some phianthropsts desire loan amounts
farms undeveloped sections at low interest rates.
they probably own farms and then help work
out practically their laudibe efforts.
Under the law OF supply and demand for money
making rapid progress. Let us have little
less politics and little more common Twenty
five thousand country banks Che farmers owning q
majority OF the) insurance mortgage. loan and trust
companies. private individuals, ETC.. IN the United
states caring for the farmers In practically
legitimate way now The farmers great prosperity
10 ample evidence OF this fact sociastic schemes
farmers are just much blight on human progress
~ in other directions.
As we have had a general housekeeping. repeat
'Let stop busting trusts and turn energies TO
busting distrustY believe, distrust IL most
serious obstacle TO greater progress
This is letter written by the president OF bank
At waukesha. wis. in to the circular hank
letter OF the City National bank of New York.
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