Farm Mortgages

The ñfth annual report of the Michian bureau of labor has just reached us. t is given up to the subject of farm mortgages. The nformation was obained from supervisors who gathered the data directly from the farmers at tlie time of taking the assessment of their respective townships during April, 1887. It is entitled to credit, because more than one-half of all the farms in the state were reported, sufficient for statistical purposes, and the figures are evidently under the truth. On the farms reported the mortgage indebtedness is $37,456,272, nearly 50 per cent of the assessed value of the farms mortgaged. This yields an interest of $2,701,609 annually, the average rate being 7.2 per cent. Estimating alLthe farms in the state on the basis of the reports received, and the mortgage indebtedness amounts to $64,392,580.80, with an annual interest of $4,636,265.81. Thus the farmers of Michigan are paying, annually, not far from five millions of dollars as interest, to say nothingof the principie. In Washtenaw county only the townships of Augusta, Dexter, Lodi, Manchester, PiÜ8field, Salem, Scio, Sharon, Webster and York were reported. The number of farms reported was 1,346; number occupied by tenants, 117 ; assessed valuation of farms occupied by owners, $5,912,945 ; by tenants, $590,480. Of the farms reported, 590 were mortgaged; their assessed valuation is 569,925, and mortgage indebtedness, II ,231 ,3151. The total interest paid annually by these farms is $78,658.68, which is a fraction over $1 .05 per acre on the improved land mortgaged. The number of mortgage foreclosures during ;he year was 30 ; redemptions, none. This showing for Washtenaw is pretty much like that of other counties of the same grade. General Master Workman Powdebly has very recently sent a letter to the Knights of Labor advocating the government ownership of coal lands. He also wants the V. S. government to opérate the coal mines, placing coal at the door of every man who dasires it. It is probably the result of bis brooding over the recent unsuccessful strike. This letter will do much to confirm the impression now abroad that Powderly is not a very clear thinker and wellbalanced man. His proposition is such a stupendous one that it will do no harm. Of course, it is a plea for state Bocialism. If the government shouk go into the coal business, it ought to undertake all businesses, and that i what the state socialist wants. We want no state socialism. But the coal monopoly must be broken up, or such socialistic ideas will surely gain ground. It is said that 13 men monopolizo the coal of the United States. That isn't right. Everything in the shape of monopoly is wrong. But there must be some way to get rid of monopoly without having the government manage all ndustry. One good effect of Powderly's etter will be the discussion which it will excite in newspapers and in knights of labor assemblies concerning the land question and the labor situation generally-