The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1922-02-10
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= FLORIDA'S FINANCIAL CONDITION
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that 1921 viii go down in history as
one of our lean years and 1922 may
be so catalogued when we come to
the end of it, Florida will be found
on solid ground and it's future pros
perity is assured because the things
which we produce are things which the
balance of the world needs and will
buy from US and pay for when able
to do so.
Broadly speaking, the human race
has never suffered from over-produc-
ton. Human needs and human wants
have never been satisfied and it is
perhaps quite right and proper that
they never have been and never will
be. True, there may be temporarily
an over-production in some one item
To illustrate: Too many people for
F.. the time being have grown grapefruit,
or the growers may lack the facilities
for proper distribution of this product
to the people who would buy and con-
sumo it or the people who would be
willing to buy grapefruit, may, be-
cause of underproduction on their
part, not have the money with which
to buy 1t and we say there is an over
production of this one item For ev-
cry so-called surplus bale of cotton
produced in 1920 and 1921 the ill-clad
people and needy industries of the
earth need two bales and would readi-
| ly and gladly buy and consume all
we have to spare if they only had the
means with which to pay for it. 1t is
not a case of reproduction on our
part but under-production on the part
of the people who need cotton.
This is also true of wheat and corn,
and pork, and beef, and steel, and cop
per, and shoes, and phosphate rock,
the many products in this country of
which We now say we have surplus
One-third of the people of the United
States are engaged in agriculture.
which term is used to include stock
raising and horticulture Our total
production of thirty principal items
which we term crops for 1921 were in
the aggregate about ten per cent less
| in quantity than our total produc-
ton of the thirty principal crops in
1919. No over-production The mar
ket value of these thirty principal
crops in 1919 were, however, accord
ing to figures compiled by the Manu-
lfacturers Record from reliable sources.
$13, 7S9, 100000 and the market value
for 1921, 62,137, 900 or decrease
of fifty-nine per cent.
The one-third of our people who
were engaged in the production of
these leading crops are also consum-
ers, and when they received for what
they produced in 1921 only forty-one
/ per cent of what they received for
their products in 1919, their purcnas-
ing power as consumers was CORES
pondingly curtailed and affected every
line Of industry and commerce. The
oretically, balanced production and
distribution would stabilize agricul-
ture, industry and commerce, and
those engaged therein could look for
ward with some degree of certainty
as to the reward which all might ex-
pect for their efforts However, man
kind has never been able to get it
balanced long. Human ingenuity has
never been able to protect itself
against war, pestilence and famine,
nor government to protect its citi-
zens from waste, extravaganza and
speculation. When production and
distribution are fairly well balanced
everybody is employed. or everybody
who is willing to work is at work,
and we say times are good
While times are good, when each
of us, or at least most of us, can
balance our yearly budgets, when in
come equals or exceeds outgo, because
our needs are never satisfied many
of US Immediately undertake to have
some of the things which we have al
ways wanted and have never had, or
to enlarge our business activities and
for this purpose mortgage the flu
ture." This result in what we call
expansion and is pretty apt to a great
degree to become with many merely
speculation, as distinguished from
legitimate growth and development.
ANY period covering several years
of so-called "goodtmes," with balanc-
ed or nearly balanced production and
distribution. always produces a con
4 siderable amount Of extravaganza and
speculation. This in turn ushers in
a period Of price advances as it is
quite human to ask what the market
win pay and to take what the traffic
viii stand. No individual nor no ma.
ton can make prosperity for very