DEBT AND SUCCESS. 3 



Let me give an actual case in support and illustration of 

 my statement. One acre of land in grass is estimated to be 

 worth two hundred dollars. The charges would be : — 



Interest, $16 00 



Taxes, 3 00 



Fences, 5 00 



Manure, 25 00 



Harvesting hay, . . , . . 20 00 



$69 00 



Crop, four tons of ha}^ worth . . , 100 00 



^ly neighljor, with moderate mental toil, and with but 

 little physical exercise, has annually wrought out this result 

 for six years, and he has as good security as we have for the 

 return of the seasons that he may go on with the same results 

 to the end of his life. 



I connect these statements with a third : — There is no farm 

 in Massachusetts of more than ten acres in extent that is not 

 capable of yielding twice what it yields at present. 



Assuming that the inevitable expenses of a farm ' e fixed 

 by its size rather than by its products, and that the per cent, 

 of profits upon a statement of the cost of particular crops is 

 very large, is it not clear that the secret of success is to in- 

 crease the products ? and is it not clear that this can be done 

 only by increasing the investment of labor and capital? In 

 all that I have said upon this point I have assumed that money 

 is dear and that labor is dear ; but the answer to the farmer 

 is, " So are your products dear." The margin of difference for 

 the farmer in Eastern Massachusetts is greater than ever be- 

 fore, and now is the time, gentlemen, for extending your 

 business. 



I do not imagine that Massachusetts farmers are generally 

 in debt ; but I am quite sure that some of them have applied 

 their annual earnings to the payment of mortgages, when the 

 money could have been more profitably used for the improve- 

 ment of their farms. It may seem strange that I should sug- 

 gest that it is not wise always and under all circumstances to 

 pay debts. 



It is told of ^Ir. Webster, — but whether wilh any fouuda- 



