The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1921-05-07
Six of Last Seven Crops Profit.
able. Mr.. Roberts Says
Spirit Unbroken.

Six of Last Seven Crops Profit
able. Mr.. Roberts Says
Spirit UnbrOken.
During a recent convention OF
Louisiana bankers held in New
Orleans, Mr.. Frank Roberts, pre-
Sident of the CalcaSieu National
Bank addressed the bankers on
the subject of Financing the 1921
Rice Crop"
Mr.. Roberts paid high tribute
to the farmers and business men
of this section in the way they
are meeting the present situation.
He spoke in full as follows:
q have been asked to say a few
words on the financing of the
1921 rice crop.
"The subject could be better
handled by farmers than bankers
Bankers of the rice belt are
still so busy financing the 1920
crop, they have not as yet gotten
to the 1921 crop.
IN the meantime the farmer is
working out his own salvation.
Speaking generally, the begin
ming of this season found the far
mer with his crop unsold, his
debts unpaid, and his spirit I'M
broken.
"He knows that 1920 conditions
were abnormal.
"For six consecutive years,
prior to 1920, he had been grow
ing rice on a profitable basis
Each year had been more profit
able than the preceding year. He
was therefore, in a mood to push
a good thing along.
"The government urged the
planting of the largest possible
acreageS of all food StuffS, assert
ing that at the end of the harvest
season there would still be a
world shortage of food, but ne
glecting to point out that there
would be a world shortage of
money with which to buy it.
"MillerS and dealers we're I'M
animouS in their opinion that
there would be an active export
market at attractive prices for
such riCeS as were not needed at
home.
There was planted the largest
acreage in the history of the in
duStry.
Expenses of making the crop
were perhaps two and one-half
times that of normal times.
coil for fuel cost from So to
$3.50 a barrel, as against a dollar
average for previous years.
"Seed which normally cost
from SIS to 81, cost from SO to
S1S.
"Feed was brought at the high
est prices ever known.
Labor, measured in efficiency.
cost from two and one-half to
three times what it cost in pre-
vious years.
Instead of there being an &C.
tive market at attractive prices
there was a dragging market at
most unattractive prices.
"The farmer has every reason
to be discouraged, but in most in
stances, he is not.
"On the whole, creditors have
been broad-minded in their views
of the situation, and have not
pressed for payment.
Mortgage companies have been
especially lenient, having extend
ed in many instances payments
due on principal; and in some in
stances interest payments.
There are one or two regret
table exceptions where companies
beginning foreclosure proceeding,
1t is especially regrettable where
these proceedings are brought to
enforce collection of notes given
for commissions.
with one or two exceptions
the manufacturers of agricultural
implements are taking a wise
view of the situation, preferring
to see the farmer have an oppor-
tunity to continue his operations
rather than to force him out of
business.
81 have eferred to the farmers
unbroken spirit.
He knows that during the last
thirty years which covers the
history of the production of rice
in large commercial way in Loui
siana, he has produced twenty-Six
profitable crops, or an average OF
six profitable crops out of every
seven DIantpd.