It gives the average size of the farms at about 175 acres in an area of 24,040 acres, of which 12,960, or 53 per cent., are farmed by the owners, 9,360, or 38 per cent., by tenants, and 1,720, or 7 per cent., not farmed. This will surprise many who think that American farmers are almost always the nominal owners of the land they occupy. The system of renting land seems to be advancing rapidly, and I heard of several cases of persons who made a regular business of land-owning and letting farms on a large scale. Though this is contrary to the ideas and prejudices of the native American, the number of foreign immigrants, mostly with too small capital to acquire land of their own, is now so great that the system is likely to increase. Next we learn from Mr. Bentley’s pamphlet that 67 per cent, of the farms in this county arc mortgaged; three-fourths of these mortgages being held by companies, the average of debt on each acre being 8-76 dollars and the average debt of each mortgagor 1,517 dollars. By far the greater part of these debts are on lands bought from the railroad companies, of which only three out of nineteen appear to be free, whilst among those who have bought land at second-hand from original settlers only four farms out of thirty-seven are free from mortgage. The general conclusions drawn by Mr, Bentley throw a very lurid light on the subject of emigration, and go far to explain the support which Mr. Bryan received during his presidential campaign. The condition of the agriculturists of the State of Kansas was for some years about this period one of general bankruptcy, and only the un¬ willingness of the lenders to foreclose mortgages on lands which were absolutely unsaleable averted a general crash. Better seasons, for a time better prices, and the general improvement in the business and manu¬ facturing prosperity of the country, have again raised the hopes of the western farmer, but in the Dakotas, Nebraska and Kansas, I do not think his lot is likely to be a happy one for many years to come.
When I reached Chicago wheat was approaching, if it had not actually touched, a dollar a bushel; the Exchange at Chicago, where gambling in options is carried to a point most detrimental, as I believe, to the interest of producers and consumers everywhere, was in a state of furious excite¬ ment, and to a looker-on the operators seemed more like a crowd of madmen than the serious men of business they would like to be thought. Turning with disgust from this gambling-hell, I visited the stock-yards and found, just as I had found elsewhere, that the markets were over¬ stocked, prices very low, and a heavy import duty imposed on Canadian sheep which had the effect (probably intended) of closing the market to Canada. I was then convinced that though the assets of the company in buildings, stock and land were no doubt still worth more than the debt on them, yet the management of such a large and complicated business with a view to ultimate profit sufficient to justify the risk would require the whole time of a very competent and trustworthy man. I therefore advised my friend not to throw good money after bad unless he was prepared to give a lot of time and wait for some years, when agri¬ cultural affairs in the Canadian North-West should be more prosperous. A new company was afterwards floated to finance the concern, but I have not heard what has been the result of it; though no doubt the great
