363] The Condition of the Western Farmer. 85 



creditors. Now, as has before been pointed out, an excep- 

 tionally energetic man can sometimes attain prosperity even 

 though he starts out with a heavy debt incurred for purchase 

 money, and if he meets with good fortune he can gradually 

 free himself from his burden. But under the prevailing con- 

 ditions, the man of just ordinary ability, who is owing a heavy 

 debt, will be more likely than not to allow it to grow contin- 

 ually larger; and not only will the effect of the debt be seen 

 in making more grievous the ill effects of losses or misfor- 

 tunes, but when a man's credit is exhausted or badly strained 

 he will often be unable to avail himself of opportunities 

 which he would otherwise have had to make profits, as for 

 instance when he is forced to sell his grain at a low price 

 when, had he been able to wait on the markets, he could have 

 realized a much larger sum. 



Perhaps the effect of his debt on a heavily mortgaged man 

 may be summed up by saying that in order to use the money 

 profitably, the borrower must be a man of normal ability; if 

 his qualities are exceptionally good he may profit greatly by 

 his loan; but if they are under the average, or if fortune 

 should go against him, his debt will almost surely operate to 

 increase his troubles. Any man who undertakes farming in 

 Nebraska at the present day requires, in order to be as- 

 sured of success, at least three things, first, that he have 

 some little capital, second, that he possess good business 

 qualifications, and third, that -he escape any extraordinary 

 misfortunes. If he lack any one of these, or is seriously defi- 

 cient in it, his success will be much retarded, if not rendered 

 entirely impossible. And though the same statement would 

 probably be true of almost any business enterprise, yet it 

 seems clear from the facts that it applies with especial 

 emphasis to the western agriculturalists of the present time. 



Thus far what has been said in discussing the various 

 economic influences at work has been said mainly from the 

 point of view of the unsuccessful farmers. The term unsuc- 

 cessful must not only be taken to include those who have 

 failed completely owing to causes of a general nature or of 



