In this comment Mr. Powers deals with the reduction in the number of foreclosures in Minnesota. Attention should be called to the fact that the United States census investigation for which a million dollars was appropriated, for the purpose of recording farm mortgages in 1890, disclosed the fact that in the ten great grain-growing States of the middle West two thirds of the farms were then free of any mortgage of any kind, and were well stocked; the incumbrance on the remaining third being less than forty per cent of the computed value of the mortgaged farms. Since that date several State investigations have been made, leading to the conclusion that not exceeding twenty per cent of the farms in these States are now under any incumbrance of any kind. In the more prosperous parts of Minnesota and other wheat sections since the substitution of intelligent and varied agriculture for the single wheat crop, foreclosures have almost ceased, such as do occur being attributed to special causes; while such is the abundance of capital accumulated in this section that the rates of interest on safe investments, which but a few years since were nearly double those prevailing in the seaboard commercial cities, are now about even. When certain causes lately produced a short stringency in the money markets of the East, remittances were made from these Western cities for investment in Eastern commercial paper.
In regard to wheat production at a fixed price in London, the Commissioner of Agriculture and Labor of North Dakota remarks: "Wheat at one dollar per bushel in London would net the North Dakota farmer on the average about seventy-five cents per bushel on the railroad track. At that price as a standard, every farmer in the State would utilize all the land he has, and buy up more of the land now lying idle and in the hands of speculators. It would increase immigration so that nearly all the vacant Government land would be taken up. We also have over one million acres of school and State land, of which at least eighty per cent is suitable for raising wheat. Such a price would give North Dakota a boom that never had its equal."
A few words may be given to the report from Texas. The Secretary of the Board of Agriculture states that "the area of arable land of fair quality, including pasture that might be put under the plow in this State, is two hundred thousand square miles; about one hundred thousand square miles suitable for wheat and other grains lying north of parallel 31°; about one hundred thousand square miles lying south of that line adapted to cotton, sugar, fruits, and vegetables of all kinds."
An unexpected reply comes from Idaho, as yet insignificant in wheat production, stating that the potential of that State under the conditions named might reach 400,000,000 bushels.
Again, from Arkansas, to which State we have looked more for excellent cotton than for grain, "there are fifteen million acres of good wheat land; wheat is fast becoming a cash crop, displacing cotton—the capacity of a considerable part of the land at the beginning being forty bushels to the acre, which, being much better than five-cent cotton, is leading the farmers to take advantage of existing prices."
Time has not sufficed since my questions were sent out for replies to reach me from Oregon, Washington, and Montana, where the potential in wheat production is probably equal to that of Minnesota, North and South Dakota combined.
Sir William Crookes makes reference to the future necessity of providing fertilizers, a matter to which the closest attention is now being given by the cultivation of renovating crops. But regard must be given to the fact that we have the most complete and adequate supply of phosphate of lime and phosphate of potash in the vast deposits of bone or mineral phosphates of Tennessee, Kentucky, and Florida, while again we may look to nitrate of soda as a very inexpensive source of nitrogen, of which the most adequate supply can be assured at very low cost. Known methods are also being applied to saving the enormous waste of nitrogen from our coke ovens and iron furnaces.
I almost feel it right to apologize to Sir William Crookes for the presentation of these facts. My function is that of the practical business man who deals with these economic problems wholly from that point of view, and not from the high standard of a complete mastery of the physical sciences.
As I have stated, I happen to have dealt with this question several times at meetings of the British Association for the Advancement of Science, and in other ways in Great Britain as well as in this country. I deem it of the utmost importance at the present time that the interdependence of the English-speaking people should be brought into view in the most conspicuous manner. In their relative production and conditions the United Kingdom of Great Britain and Ireland and the United States are the complement of each other. Their mutual relation or interdependence is now being recognized, and it can not be long before many of the legal obstructions to mutual service will be removed. The people of this country are now passing through a stage in their economic education closely corresponding to that through which Great Britain passed between 1840 and 1856 under the wise leadership of Sir Robert Peel, Richard Cobden, and William E. Gladstone. We move more quickly, not only in acts but in ideas, than we did fifty years ago. The revolution of ideas which has followed the revolution of institutions in the Southern States has made the people of this country into one homogeneous nation. A revolution of ideas in regard to the conditions of international commerce will presently bring the English-speaking people of the world into one homogeneous body governed by the same common law, the same common principles of action, and the same policy in the collection of revenue. When thus united, there can be no competition in the commerce of the world on the part of the continental states of Europe under their present burdens—the blood tax of standing armies and navies and the money tax of debts that can never be paid. There have been within a few months two witnesses to the growing influence and power of the English-speaking people when united for the maintenance of commerce and for the conduct of the works of peace, order, and industry: one is the warning of the Chancellor of the Austrian Empire, calling upon the states of middle Europe to unite their forces in order to remain capable of maintaining government by privilege and taxation by force of arms; the other, the recent manifesto of the enlightened ruler of Russia, calling upon the states of continental Europe to disarm, lest they should hereafter be incapable of competition with the English-speaking people of the world when they become bound together by a union of mutual service and by community of interest which without any formal alliance will give to them the chief control in rendering service by the exchange of product for product to all other states and nations, to the mutual benefit of all who are thus joined in the bonds of peace.
On my visit to Russia last year, to meet the leading economists and statisticians of Europe, it was stated to me by well-informed men that a plan had been considered by several continental states in the event of war to change the present international custom by making food products contraband of war, the purpose being to cripple England. To such desperate conditions have some of the European states been brought under the burden of the policy of blood and iron. My comment upon this insane proposal was that I hoped it might become a matter of public discussion, since nothing could so surely and quickly bring about a commercial union of the English-speaking people, to the end that, even if no other alliance were made, their navies might at any moment be combined for the protection of their commerce, and for the total cessation of any interference by war vessels or privateers with their traffic.