The Bismarck tribune., 1918-10-07
LATEST CROP
RETURNS ARE
SATISFACTORY
John H. Rich, Federal Reserve
Agent, Discusses District
Conditions.
EVERYONE is WELL PAID
Farmer Not Alone in Receipt OF
Unusual Return For His
Labor Today.


Late crop returns from the greater
part fthe Ninth district are extreme
ly satisfactory. They indicate that
total yields of practically all fine and
coarse grains have run somewhat De-
yond expectations. and that the crop
production of the district has, II any
thing, been underestimated rather
than overestimated. This applies TO
the district as whole, rather than
to particular localities. although III
some of the sections. such as western
North Dakota, where the crops suf-
fered from unfavorable conditions. the
actual yields are better than was an
ticipated.
The Federal Reserve bank has had
ample evidence OF the large money
value OF this years crops in the tact
that it has issued more than twice
the currency required for last year S
crop moving. This is partly account
ed for by the increased cost or farm
operations, but reflects as we'll IN the
present high market prices. not alone
for grains, but for livestock and every
thing else the farmer has to sell.
The farmer is not alone the recipi-
ent of unusual returns from his labor.
The present wage scales throughout
the entire district are higher than in
any previous year. Wages have ad-
vanced to point where artisans ana
laborers are obtaining a return com
pairing we'll with the income received
by those in desirable salaried posi-
tions. This is evidenced by a rather
remarkable increase in the buying
power of the wage earning classes,
which has been accompanied by
falling off in purchases b ythe sal
aried classes and by those ordinarily
considered we'll to do. Whether ex-
tremely high wage rates are resulting
in any permanent good to those who
are benetitting by them, it is hard to
determine, since with the advance of
wages, has come radical advance III
the cost Of living, and in the price,
fall foodstuffs and commodities,
bringing such important items as
meat, -four, staple groceries and fuel
to the highest levels that have been
known in many years. Wage earners
are of necessity spending more, and
the markin of net profit from their
labor is probably not appreciably
greater.
TO the salaried classes, and all Of
those who work upon the basis OF a
fixed compensation, this situation Is
burdensome, since the advance III the
cost of living is not offset by com
mensurate increase in income.
It is probably true that the farmers
as a class are receiving permanent
benefit from high price levels. The
evidence available tends to show that
the cost of farming has not advanced
as rapidly as the price OF farm prod
ucts. While wages of farm labor have
been high.,a less amount OF outside
farm labor was employed this year
than in a normal year. This years
operations will show an increased net
return to the farmer, out of which
many of those in the agricultural sec
tions will be able to proceed with
necessary and desirable improve
ments, liquidate their Indebtedness,
and put their operations upon more
satisfactory basis.
Banking and business conditions
during the month show no appreci-
able change. The demand upon the
banks is active, and interest rates are
very firm, at about the same levels
The volume of merchandising busi-
ness is good, and all Industrial con-
Germs are very active. .,
The outlook for the late fall and
early winter is very good.