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Parent Issue
Day
7
Month
October
Year
1896
Copyright
Public Domain
OCR Text

We have showa elsewhere the ntttiM falsity of the pretense which forins ouK of the stock argunients of the Popi:!is leaders of this state, that the i'armenj of Miunesota have been growing poortM and that their debts have been Krowinjï heavier year by year for the last ten I íifteen years. It reqmres consideraba audacity for these fellowa to keep uu repeatiug these statements in face d the flood of light thrown upon this quej tion by the intelligent researches of Lij hor Commissioner Powers - sorue of th resnlts of which we have again present. ed. Instead of growing poorer and get. ting more deeply into debt, the stntistio of the census office and of kis own lic reau, as digested by him, show that ths farmera of Minnesota owed far less relatively in 1890 or 1893 than they dl in 1880, while they had made immena gains in wealth and resources. Refet ring to the editorial artiele in which V( have presented these facts, it will not be inopportune to repeat in connectiot with them the faets we stated the othoi day showing the large relative increasi in the bank deposits in the agricultura] districts of the state in the last ten y.i ;u as compared with the citiss. These sta. tisties of the deposits in the national and state banks were compiled by 3'ulilit Examiner Kenyon and for convenieno they were grouped by congressional tncts. They showed that m St. Paul and Minneapolis the -deposits had increased from 1886 to 189G only abont 33 per cent., including with St. Paul, Stift water and all the four counties in itj district, while there was a distinct fa 11ing off in these deposits since 1890. The only other district having a consideraba city is the Sixth, in which Duluth is situated, but which embraces twenty countios, mostly agrieultural, and may therefore be nunabered as aa acricultural district. In the districts which embracs St. Paul and Minneapolis the bank deposits for the yeara mentioned were ai follows: 1888. 1890. 1S95-6. Fourth- St. Paul, etc.16,188,027 20,972,414 20,355,833 Fifth- Minneapolis .12,960,800 20,082,481 18,427,923 Now tura to the otter districts mostly peopled by farmers: 1886. 1890. 1895-6. First 2,421,806 4,051,979 5.5!14,59.' Socond 920,013 2.44Ö.841 4J12,W. ïhird J,S!.:i-W 2,874,544 4,008.847 Slxth 2.K15.161 5,483,798 7,806,978 Seventh 1,159,700 l,S53,005 3,094,079 The First district shows an increase in bank deposits of 130 per cent. in ten years; the Second an increase of more than 400 por cent.; the Third, 150 per cent.; the Sixth, 220 per cent., althongh a part of this increase is due to the great growtb. of Duluth; the Seventh, 1G0 per cent. In all of these districts thers has been a large increase of deposita during the hard times of the last fiye rears; in the First district, do per cent.; in the Second, 98 per cent.; in the Third, 30 per cent. : in the Sixth, 33 per cent, and in the Seventh, C6 per cent., while during the same periud of depression thé deposits feil off about 9 per cent. in Minneapo'lis and 4 per cent. in St. Pau!, including the four counties embraced ia the district. Coupled with the proofs elsewliere given of decreased mortgage indebtedness on the farms of this state and of the increased wealth of the farmers, this rapid growth of bank deposits in the agrieultural districts of the state show at least a very fair degree of prosperity aad that in both respects the farmers of the state, as a whole, are immensely better off than the city people, as a whole.-

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Subjects
Old News
Ann Arbor Courier