Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-22
FARM VALUATIONS.

The average p1ice of piowtand per acre in the United
States decreased about Z per cent during the past year,
according to q report just issued by the United States
department OF agriculture. The average value of plow-
land per acre on March l OF this year was $ss.7s, as COM
pared to 5000 in 1920, and s74.s1, in 1919. The stats
ticians Of the department attribute the decline to the re-
ductiop Of the prices Of crops.
The report shows that the heaviest drop ia the price
of land is in the Southern stztss where cotton is the pr1n-
cipsi crop. In some sections Of these states there has been
a decline of 30 per cent in the prise Of plovlsnd during
the year. The average price of lew1snd in Georgia this
year is 3s6 pei. acre, while Last year it vas Sta drop of
about 20 per cent. The average in South Carolina last
year vss SCI, while this year it is SB0-A drop of 20 per
cent.
Probably the greatest drop in any oae state was in
Kentucky, and is attributed to the decline in the price of
tobacco. In 1920, the average price Of plowland in this
state was $40 per acre, while this year it is $50. This is .
decline Of approximately ~ per cent.
Iowa is the state having the highest price of pow-
land per acre. The report shows that it is valued at
5000 this year, as compared with s21s last year-a de.
cline Of about . per cent. Illinois ranks second in the
value OF plow1and. according to the report, the price per
acre being S1b7. IN Alabama and Mississippi the average
price OF plewIand per acre il S2<,
The western states show the least decline in prices
of Land. and in the case Of California, Oregon and Color
ado there is a slight increase over last year. Plowland in
California was valued at $3.50 per acre last year, while
this year the average is $135.
The report shows that there was = rapid increase
in the price OF land from 1917 TO 1870, when the highest
price was reached. The decline during the past year is
not as great 80 the ipereass from 1919 to 1920. Land
prices are still higher than any year preceding 1920.
The figures for North Dakota are not given in the
report sent out, but there is no room for any doubt as to
,-.. u,.-.~ -..uu. Aortn Dakota was one Of the few
states i2 which land prices were not advanced inordinate.
~ during the war period In this state there has been
practically no speculation In land, and prices generally
have been based on the real valre OF the land for produc-
tive purposes. Hence there IL no occasion for any de-
crease during the readjustment period.
Iowa is mentioned as the state having the highest
land values. Nnetisures quoted give but a poor indica-
ton Of the actual facts. There are sections in that state
in wAich speculation has run rampant, in which prices
have been boosted to $500 or more per acre, and in some
at these sections prices have dropped out Of sight. The
same piece of land has changed hands = dozen times with
in a few months, each holder adding to the price and
taking his profit, Until the last purchaser has been left
holding the bag. This state has been free from that con-
diton, and North DakotAs acres are today worth every
dollar that il asked for them.