AGRICULTURE IN THE UNITED STATES. 465 



" DEPRECIATION IN THE VALUE AND ACREAGE OF FARMS. 



In 1860 the value of farms $6,645,045,007 



In 1850 the value of our farms 3,271,575,421 



Total increase of value in 10 years . . $3,373,469,586 

 Average yearly increase in value 337*346,958 



In 1880 the value of farms $10,197,096,776 



" Now take the 20 years following : 



In 1880 the value of farms . . . 



In 1860 the value of farms 6,645,045,007 



Total increase of value in 20 years . . $3,552,051,769 

 Average yearly increase in value 177,602,588 



"That is, the average yearly increase in the value of our farms dropped 

 from 10 \ per cent, as in the years 1850 to 1860, to T.\ per cent, as in the 

 years 1860 to 1880. And this fearful depreciation in the value of our farms 

 occurred during a period of unexampled prosperity and development in the 

 commercial, financial, and manufacturing enterprises of the country. 



Acres. 

 Again, increase of the acreage of farms from 1850 



to 1860, was 113,640,000 



Average yearly increase 11,364,000 



Increase from 1860 to 1880, 20 years 128,881,835 



Average yearly increase 6,444,090 



"That is, the increase in the farm acreage, from 1850 to 1860, was 38 

 per cent, while, from 1860 to 1880, it dropped to 31 per cent. This heavy 

 decrease took place during the same prosperous period to which I have 

 referred, and during which the population of the country had more than 



doubled. 



Per cent. 



From 1850 to 1860, farm values increased 101 



From 1860 to 1870, farm values increased 43 



From 1870 to 1880, farm values increased 9 



"Yet notwithstanding this alarming decline in farm values, the aggregate 

 wealth of the country increased, from 1870 to 1880, 45 per cent, and the 

 agricultural population increased over 29 per cent. 



"AGRICULTURE AND MANUFACTURING. 



" It may not be uninteresting or uninstructive to notice, in this connection, 

 the comparative progress between agriculture and manufacturing. 



"From 1850 to 1860, agriculture led manufacturing, in increased value of 

 products, 10 per cent. From 1870 to 1880, manufacturing led agriculture 27 

 per cent ; showing a difference of 37 per cent in favor of the growth of manu- 

 facturing. 



