The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-11-21
After Reviewing Conditions
Spelling Prosperity, Calls
Upon Government For Wig,
orous Action.
SHOWS INJURY rs BEING
DONE FARM INTERESTS
Points Out Fact That They
Must Pay War Prices and
Sell Their Products at Lower
Than Peace Prices.

Broadly speaking, Virginia. along
with other Southern States. is shar-
Ing in the prosperity which seems TO
have come to the whole coAltry
writes Governor Henry G. stuart for
the special financial review issued by
the Baltimore Sun Yesterday. The
Governor. altar carefully covering the
situation. as,-- wat the Federal gov
eminent open the seas for the legiti-
mate business OF this country. Gov
ernor Stuart says:
We see that the output of coal and
coke Is larger than for several years
past; iron turnaces,~lo cold, are
again IN full blast; all branches of
manufacturing getting into fun swing
labor is employed and Is IN increasing
demand at remunerative wages,
money is easy for the more favored
class of borrowers a. REASONABLE rates.
especially in the cities; good crops
OF grain. hay, tobacco and peanuts
have been already gathered. We see
that the aggregate cash value of the
agricultural products Of the United
States for the present year beaches
the phenomenal figure Of Sc. 500. 0o0.-
0oe.
Farms Bases of Prosperity.
We know that the prosperity o.
the country Is based on and largely
grows out of these griculturai pro-
ducts; that they constitute and, in a
large sense, measure our national in
come. that theyesta blish and maintain
the large trade balance In our favor
These conditions give prosperity and
stability TO what Is known as big
business and afford the means, d.
rectiy and indirectly. Of building up
huge fortunes to the credit, however.
OF men who have had the least to
do with producing these conditions
1t must be admitted that the men who
have grown these great crops and
thus created these values and oppor-
tunities. are the smallest participants
In the rewards that flow from them.
With the unprecedented foreign de-
mand for agricultural products of all
kinds. including live stock. we find
practically all of them below the
average price of the three proceeding
years and most OF them below the
fair cost of production. The cotton
crop OF 1914 went out of the hands
OF the planters at a figure below cost
of production and only the fact or
very short crop prevented the planter
from meeting the same fate in 1915.
Prices Drop During War.
Nearly all the grains are lower
than they were before the European
war began: only a few grades OF to-
hacco are selling at remunera,ive
prices on the warehouse floor. though
there seems n gleam of hope for
better prices, Peanuts. one of the inn
portant money crops i'll Virginia. are
in the same category, minus the CLEAN
of hope.
The average price of live cattle Is
much lower than that Of 1914 ann
substantially below the average of
the last three years The average
price of hogs Is lower than 1t has
been for several years The average
horse is lower than for ten years.
These conditions as TO live stock exist
IN spite of an urgent foreign demand
at war prices, which is being met by
shipments to European
markets markets which have been
more or less closed against us for sew
eral years: In spite, also. of big ad
vances in the price OF hides, amount
ing In cases of large animals to SIS
or 50 per head. in spite. also, OF sharp
advances in every hy-product from the
slaughter house.
OversuppIy Allegation Met
We are told that the prevailing de-
preston in price OF agricultural
products is due to oversupply. Let us
Inquire into this IN the single case Of
live cattle. emitting inquiry as to
other agricultural products, The Ques-
ton Is. How can there be an over
supply OF cattle when there was an
admitted shortage in the American
and world supply dating back to
1912? II is well-known fact that
beef cannot be pro-
duced ON a large scale on short no.
tice: at least four years are neees-
sary to increase the supply after the
task is undertaken. How, then, can
the shortage OF 1912 become a sur
plus in 1915. when no concerted eff
fort to increase has been made? How
can the shortage Of 1914. or the early
part OF 1914, before the European
war began. be converted into a sur
plus in 1915, in the face OF the prac-
tical cessation of importations from
to our own country, COM
ing simultaneously with an enormous
demand for our meats from foreign
During the same months
tie have been steadily declining until
they have gone below the cost OF pro-
duction, Argentina live cattle have
advanced from S. to 81 hundred.
about per cent. and are now bring
ino more a pound In Argentina than
better cattle are bringing on the Chi
cago market.
Hints At Combination.
Under the present trade condl-
tions, while 80 much OF our beef
product liz finding a European out
let, it must be true that oversupply
In the United States would be reflected
In the United States wuold be reflected
Can It be that competition between
English and American buyers on the
Argentine markets has brought about
this advance In Argentine cattle? II
20. does not the inference necessarily
arise that the depression In cattle on
the markets OF the United States IL
due 10 the absence Of composition be-