The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1921-01-13
BRIGHTER PROSPECTS

BRIGHTER PROSPECTS
Business everywhere is being sub
jected to the severest kind of a test.
At no other time in the history Of the
world has business been put to such a
test as it is today Of course, every
thing is certain to come out all right,
at least everything is going to work
out eventually for the common good.
Certain individuals may suffer; certain
banks have failed and some other
business concerns may fail. There
are always certain number of fail
ureS, even in the most prosperous
times, but business as a whole is
sounder than ever, even tho their ac-
tual financial value, measured in dol
lars and cents may be less. The
banking system of our country is
sound. In North Dakota as well as in
most of our other states, the deposit
ors are guaranteed by the state de-
positors guarantee act. Our bank
ing regulations are strict and it be-
comes necessary for bank in order
to function to maintain fair sized
reserve. When this reserve becomes
too low, by reason of loaning so heav-
lily that the borrowers cannot liquid
ate, then it becomes necessary to close
the institution. Twenty-some North
Dakota banks have closed their doors
by reason of this fact. 1t is hoped
that most of them eventually will be
able to open. There are approx
mately 800 other banks in North Da
kota, representing millions of dol
lars in resources, that are still doing
business. 1t is believed that very few
if any more banks will find it neces-
sary to close. Banks everywhere re-
fuse to take on new loans. Instead
they are making strong efforts to get
in a portion of what money they have
loaned, to make their reserve that
much stronger. They are trying to do
this without crippling anyone tinan-
cially and it is the duty of everyone
owing money to bank to make an
honest effort to pay a part at least Of
what the institution has coming There
never was a better time to practice
economy but at the same time one
should not be miserly It's good rule
for one to buy what he needs at a
fair price, pay cash for same, but to
not buy what he can get along nicely
without. It's mighty poor time to
use your credit, even tho that credit
may be good. Pay as you go is
good safe rule to follow
The farmers of North Dakota owe
considerable money but with proper
methods, farming in our state is GO
ing to pay out yet. The farmers have
been compelled to borrow on what was
considered ample security at the time.
Not long ago most any kind of horse
was considered worth hundred dol
lars, but unless horse is pretty good,
its value might be considered nearer
thirty or forty dollars today. Still,
the right kind of horses are still sell
ing for three or four hundred dollars
team. Such horses must be large
and young and sound. There are not
enough good pure-bred stations. The
cheap price for horses generally has
driven many breeders out of the bust
ness. With tractors high priced and
money scarce, the North Dakota farm
ers as a rule will have to get along
with horse power for years to come
and there is certain to be scarcity of
horses within short time. Cattle
also have dropped, still good dairy
COW will bring upwards of hundred
dollars and some good beef cows are
worth from $75 to $500. The trouble
isn't that the farmers prices are so
low, as compared with the prices of
few years ago, but the main trouble
seems to be that the farmer is now
compelled to accept so much less for
his products than it cost him to pro-
duce them. If the farmer could have
produced his wheat as cheaply as he
did back in 1914, then the present
price would have been considered good
and he would have had no complaint.
Until the farmer is able to have some |
thing to say about what he shall ac-
cept for his products, until he can
keep cost system and sell on the
basis OF what his products cost him,
there will be much trouble and dis
satisfaction with those farmers, and
who can blame them? Perhaps the
Farm Bureau is going to do consider
able to correct this evil. Let US hope
so at least.
The farmers of North Dakota de-
serve whole lot of credit for the way
they have tried to succeed. Most Of
them deserve to succeed and the In
dependent has the utmost faith in that
they eventually will succeed. If farm
ing must fail in North Dakota, then
the rest Of US might just as we'll pull
up stakes and dig out. Like some
businessmen there are some farmers
who can never hope to succeed because
they simply will not adopt safe and
sane methods of farming. It's too bad
that this is the case, but it's a fact
nevertheless and the sooner they get
into something at which they can sue
coed, the better for all concerned.
These are individual cases but as we
have already said, the big majority of
our farmers appear to be on the right
track and will work out their saliva
ton.
Our farmers are already planning
their 1921 crops. Most of them have
saved their seed. They have their
feed, machinery and horses. It might
be just as well and better if they didn't
plan on putting in such big crops as
formerly. AS our Burlington friends
say, the time has passed when one
man and boy can farm whole town
ship in North Dakota. Less and better
farming would appear to be good
slogan for 1921.
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