Rensselaer Semi-Weekly Republican, Volume 40, Number 71, Rensselaer, Jasper County, 8 May 1908 — A COMPARISON OF TWO PANICS [ARTICLE]

A COMPARISON OF TWO PANICS

“Look on This PLture: Then on Tha.”—Behold the Contrast Between CondiVcns In 1893 and Those of 1903. A BAROMETER OF THE PROSPERITY OF THE COUNTRY I ....A - ’ Condition of the Farmers a Faithful Index of General Conditions—Their Situation Now as Compared With 1896.

(Noblesville Ledger.) There was a panic In 1893 under a Democratic administration. There was a panic In 1907 under a Republican administration. The panic of 1893 lasted for four years and touched with a blighting hand every industry of the country. The panic of 1907 lasted four months and affected largely the stockjobbers and speculators of Wall Street. The panic of 1893 was caused by the distrust of the people of Democratic policies and legislation. The free-trade Wilson bill played havoc with business everywhere. The panic of 1907 was caused by the wild speculation of the bankers and stock jobbers of,Wall Street. For a time there was alarm and feat; of the outcome. But the great business Interests of the country being managed on a “safe and sane” basis, weathered the little storm and the clouds soon cleared away. As Congressman Overstreet well said in his "keynote speech" —“It is far better for the American people to have six months of panic out of eleven years of Republican prosperity than to take chances of having six months of prosperity out of eleven years at Democratic panic.’’ It tswell known that the condition of the : farmers is the barometer of the prosperity of the country. If they prosper, the country prospers. If they do not prosper the couhtry at large Buff eqs. Sq let us see the condition of ’ the fanners was in 1896, three years after the Democratic panic, and in April, .i, H. o i, 4 1908, six months after the Republican panic. The wise husbandman profits by the experience of the past. The farmers know a good thing when they Bee jt, and, as a rule, hold fast to that which is good. Memories are sometimes faulty,, and. it is well to refresh our mßmortes “lest we forget” the things of the past It is well, then, for the farmers to take a retrospective view of conflltionS, hot theories, that confronted them twelve years ago at the close of the liaht Democratic administration of the government, and then compare them with conditions that confront them today. Farmers as a rule are conservative and act upon their judgment and not their whims and emotions. They take a sober second thought before they act There is nothing so convincing to the practical, sensible farmers as facts and figures. For that reason we desire to give some statistics pertaining to farm values and farm products, shewing what marvelous advances have been made during the last twelve years. The facts are surprising as well as true. We gather our facts and figures from market reports, from the report of the state statistician and from other reliable sources. For instance, let us take Hamilton county. It has 256,000 acres of land. Conservative estimates of the average value of this land in 1896 would be S4O an acre. How many farmers of the county would take less than SBO for their land today? During the past year hundreds of acres have exchanged hands at |IOO an acre and more. But to be fair and liberal, place the average land at S7O an acre. This is an increase of 75 per cent in twelve years. What safe investment in the land has yielded so prtnceW-4WdendaL-_This increase in land alone adds to the wealth of. Hamilton county farms the large amount of $7,680,000. Hamilton county is richer and better than the average county in the state. But cut the average Increase in land down to $5,000,000 per county and we have the enormous sum of $460,000,000. This immense sum is added to the permanent investment of the farmers of this state. The unrivaled prosperity of the last twelve years, the high prices of all kinds of farm products has made land investment at the increased prices profitable. Capital by the millions has been going into land because it was a sate, sure and profitable investment Another advantage to farmers of this Increase in land values is that those who borrow money can get larger loans per acre and a less rats of interest To show what good, prosperous times means to the fanners let us take the average yield of wheat corn and oats for the last twelve years in Hamilton county, with the price thereof in 1896 and 1908. Also the average number of horses, cattle and hogs during the last twelve years, with prices in 1896 and 1908: ' 1896. 1908. Average. Price. Amount Price. Amount Wheat, bushel 652,918 $ 0.57 $372,163.26 $ 0.90 $ 587,626.20 Corn, busbel 2,079,362 .20 415,872.40 .60 1,247,617.20 Oats, bushel 210,487 .12 25,258.44 .46 96.824.02 Horses, head 9,016 60.00 540,960.00 120.00 1,081,920.00 Cattle, head 15,209 25.00 380,225.00 40.00 608.360.00 Hogs, head 48,447 6.00 290,682.00 13.00 629,811.00 Totals $2,025,161.18 $4,252,158.42

These figures, which any farmer will admit are fair and conservative, show that the farmers of Hamilton county are receiving on the six items ipentloned above, (2,226,997.32 more than they did for the same products in 1896. This is not taking into account other products of the farm, such as sheep, hay, poultry, butter, eggs, fruits and vegetables of all kinds. These items would add very largely to the above figures. For example, in the Indianapolis. Journal of 1896, we find the following quotation*: Hens 7c, eggs. Bc, butter & and 6c, hay 89.60, sheep (2.86.' Th the Indianapolis Star of April 18, 1908, we find these quotations: Hens 11c, eggs 18c, butter 16c, hay 814, sheep 86.00. Taking the ninety-two counties of the state and allowing 11,600,000 as the average increase per county on the value of the six 'items mentioned above, ' and we have an annual increase in the wealth of the farmers of the state r| I 8138,000,000. Taking all the products of the farm into consideration, it is safe to say that the farmers of Indiana are receiiMng annually for such products 8200,000,1 000 more than they did tn 1896. As there ate 221,897 farms in this state, this Is an average of 8901 to each farm. Look-at these figures and decide for yourself if it is not the part of wisdom to keep on letting well enough alone. Increase in value of land in 12 years in Hamilton countyß 7,680,000.00 Increase in value of land in 13 years In state of Indiana46o,ooo,ooo.t>v Increase in value of six farm products in Hamilton county 2,216,9*7.32 Increase in value of six fares products in state of Indiana...... 118,000,000.00 Increase In value at six farm products to each farmer *OI.OO All in all. the fanners are In a happy state of mind and have no "kicks'' taWinot. the present order of things.