The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1918-06-20

bumper crops every three years--in
1906, 1909, 1912 and 1915, and the
next one is due this year We have
even had fair crops in between these
years until the Western Bolsheviki in
vaded our great state.
Take our big crop of 1915, for in
stance, and see the prosperity it
brought to our farmers, even at the
price of about dollar per bushel To-
cally! The farmers stored their wheat
| in their own local elevators because
they did not need the money-kept it
till the spring of 1916, many of them.
The elevator companies shipped the
grain to the terminals, sold it and
hedged it, and the commission men
held millions Of dollars Of the North
Dakota farmers money for months
and paid interest on it at the rate of
or 7 per cent, and for while they
did not know what to do with all the
farmers money. The local banks even
in the western part of the state, could
not use any of this money held idle
by the cmmission men, having more
than the reserve required and there
being little or no demand for money
by the farmers.
When good crop of wheat at dol
lar a bushel could bring such pros
perity in 1915 and the following win
ter and spring, what would bumper
crop mean to the farmers this year at
present prices?
But they tell us that everything the
farmers have to buy is so high that a
good crop would not help much. Let
US see. Political economists tell US
that high prices (Which in turn means
cheap money!, will benefit the Dor
rover and producer; but we don't
need to consult anybody on that score,
because common sense will tell US
that any person who produces and
sells more than he buys will be the
gamer by universal high prices.
Wheat Is, really, the only true meas
ure of value in this state, as that is
our chief product, especially this year
when we are all striving to produce a
bumper wheat crop and thereby helpl
to win the war. We don't grow money
we can not dig it out of the ground,
nor do the dollars grow on trees. We
raise wheat and should use that as a |
measure of value.
Some of the misled farmers COM
plain of the banker and say the rate
of interest is too high. While we are
not presenting any brief for the bank
er generally, the truth of the matter
is that measured with wheat the bank
ers' money is now worth about one
half of what it was few years ago,
and consequently the rate of interest
has practically been cut in two.
A farmer who borrowed, say, $4,000
three or four years ago, knew at the
time that this loan represented about
1000 bushels Of good wheat. Next
fall, when he harvests the next big
crop of wheat, he could pay that loan
with only 1000 bushels Of wheat and
still have about twenty-five dollars
left over to buy nice things for his
wife and children with. The annual
interest on this loan at 7 per cent
made him dig up $40 each year few
years ago, or 140 bushels of wheat.
Now he can pay that interest with
only 70 bushels of wheat and still
have enough left over to take his fam
lily to the show.
Farm machinery has advanced too
rapidly, some of us think, and when
the International Harvester Co. gives
out the report that it has made IL per
cent on its entire capital, we should
think the Government may step in and
lower the prices notch or two. But
still the fact remains that, measured
with wheat, we can buy, for example,
binders cheaper today than we could
few years ago. Then we could buy
self-binder for about $3.50 to $160,
or 16O bushels of wheat. Now the
cost is from $275 to $3.50, which is
less than 140 bushels of wheat, or
about 20 bushels cheaper than before
the advance in the price of wheat.
Irvine has about doubled in price,
figured in money, but is about even
with former prices, figured in wheat,
the only correct way. Lumber is high,
which is handicap to the fellow in
the city who is working for wages and
is paid in "cheap money!" if he wants
to build home for himself and fam
lily, he will feel the advance in the
price Of lumber very keenly. But the
farmer can buy more lmuber for his
wheat today than ever before since
NTH Dakota was settled.