THE WEALTH OF AMERICAN FARMERS. (Dornbusch's List.)

Waikato Times, Volume XXII, Issue 1856, 29 May 1884, Page 4

THE WEALTH OF AMERICAN FARMERS. (Dornbusch's List.)

Is an article in a recent n imber of the Mechanical Now s of New York, Mr John \V. Bookwalter piesents tn a rather stiiking m .111101 an account of the accumulation of wealth' by the Ahum lean agriculnual classes frince 1573. Prior to 1873 the fanning classes stnic'gled yeai aftci \eai undei a load oi debt inclined, not >nly for land and houses, but for stock, machine) y .vnd implements, and o\cn for the supply of household necessities Subsequent to that jeir, however, as is well known, the scnioity of ciops in Kuiopo, and the abundance of the ciops in the United Stat(s enabled the Amencan faimeis to rind piofitable maikets for vastly increased exports. Mr Bookwaltei points out that these favourable comlitions also coincided with a decline m the latcs ot ti.uispoit and in tliccostof all the fanner's roquitements to tlie extent of :>:>', per cent. He estimates the saving of the Ameiican Agricultural clashes dining the six years fiom 1873 to 18S0mclu&ne at £600,000,000, or about one-fifteenth the entire value of the real and peisonal property of the people of the United States accumulated during the whole life of the nation. The panic of IS7.S had the ottect of cheapening the cost of the supplies ie(| lined by the hnneistothe extent of £00,000,000 per annum. Mr Bookwaltei docs not assume that the extraordinaiy rate of inciease ot the American aigieultural exports is destined to continue, and though lrj takes a sanguine view of the future oftiie countiy yet theie can be do doubt that the (jiiestion of expoits as affcoting the fuluie of the United States, is an impoitant one. Moie than To per cent of Amciican expoita aie agricultural pioducts. Wh.it will be the effect of the developing jompetitiou, not only of India, but of t he Argentine Republic, the lattei until leeently a buyer of wheat fiom the United States, and now an expoiter of this giam ? This is a question that has been asked many times befoie. The specially interesting point in Mi Hookw alter% aiticle is the way in which it brings out the tact that the accumulated wealth of the United States must be veiy lamely in the po^.se-bion of the :igi ieiiltiu.il classes. It is piobablethat in spite of piotection, the tendency has been foi money to pass moic and moie into the po^sc-sion of the fanning classes, and that they have leally become, to a vciy laige extent, masteit. of the situation ; toitlieic seems little leason to suppose that in\(stnu'nt sin uuliistu.il pioduetions aie piolit.iblu, making allowance, of couisc, lor tlie tempoiaiy ])iospeiity of new entoi pii'se^, such <)^ flic southern cotton mill->. But tne^e, also, may be expected soouei oi latei to ficin the excessive competition m the home milkct, which isalieady a"i\eiiely allotting similai indnstnto in otliei paits of the Liniun.