30 BOARD OF AGRICULTURE. [Jan., 



enough to pay off all the public and private debts in the United 

 States. 



There is another side to the story. The surplus produced 

 by American farmers above what is consumed in this country 

 is sent abroad, and is fast wiping out our debts, making us a 

 creditor instead of a debtor nation. 



This surplus pays interest and principal to our foreign 

 creditors. It pays rent to our great absentee landlords like 

 W. W. Astor»and the late " Lord " Scully. It offsets the drafts 

 drawn by American heiresses in Europe for the money which 

 their titled- husbands squander abroad. It provides the funds 

 from which the poor immigrant sends his little Christmas gift 

 to his mother or sister in Italy or Assyria. It pays for the 

 finery so lavishly imported from Paris to deck our American 

 women. 



That is to say, the drafts on America to pay for these things 

 are more than balanced by the drafts on Europe to pay for 

 our agricultural exports. The bankers with whom both sets of 

 drafts are deposited offset one against the other, and only the 

 difference or " balance " is paid in gold. 



The balance, thanks to the American farmer, is greatly in 

 our favor. In other words, the farmer makes our country rich 

 enough to squander a great deal of money in Europe and still 

 have plenty left. No less than $976,000,000 worth of American 

 farm products were sent abroad in the last year. 



Our programme has been made a little short this morning 

 in order that the Connecticut Poultry Association might have 

 an opportunity to hold a business meeting in this hall before 

 the opening of the afternoon session. 



As there is no further business we will take a recess until 

 2 o'clock. 



Convention adjourned until 2 o'clock. 



FIRST DAY — AFTERNOON SESSION. 



Convention called to order at 2 p.m., Vice-President E. G. 

 Seeley of Roxbury in the chair. 



The President. Ladies and Gentlemen: I am very glad 

 indeed to see so many of you here at the first day's session. 



