Albuquerque morning journal., 1922-12-31
PROSPECTS FOR
FARMERS BRIGHT
IN COMING YEAR
Secretary Wallace Reviews
Agricultural Conditions for
1922 and Gives Views on
1923 Outlook

Washington, Dec. SO.-Better
times for the farmers of the
country are foreseen for 1923
by Secretary Wallace, who. in a
statement today. reviewed agri-
cultural conditions of 1922 and
set forth the prospects for the
new year. In his statement, MI.
Wallace said:
Twelve months ago most OF
the six million farmers of the
United States were starting on
the long hard climb out of the
valley of economic depression.
They have not yet attained the
heights which are bathed in the
grateful sunshine of prosperity.
Some, Indeed, have fallen by the
way. Others are still in the val
ley. Nevertheless, as we stop q
bit and look backward, we can
see th..t very considerable ground
has been gained by the great ma
tority, and we can enter the heW
year with renewed hope and with
that courage which comes from
the realization that we are really
making progress.
Promise Is Fulfilled
"a year ago, when speaking of
the prospects for farming in 1922,
| said that while there was no
reason to expect boom times for
the farmer in the near future,
there was promise of better times
both for the farmer and for
those whose business is largely
dependent upon him. The year
has brought fulfillment of that
promise. Speaking generally,
times are better, much better,
than a year ago, both for agri-
culture and for industry.
Crops have been good, on the
whole. Prices of the major crops
, are mostly considerably higher.
/ While there has been q corre-
spending advance in the prices
buy, the total sum which farmers
will receive for the crops of this
year is greater by a billion and a
half dollars or more than that
which they received for the crops
of last year. This will certainly
mean better times on. the farm.
and farm folks will be able to
ease up a little on the grinding
economy they were forced to
practice the preceding year.
The labor cost of producing
the crops OF 1922 was still fur
ther reduced. There were some
substantial reductions in freight
rates. Much helpful legislation
has been enacted and more Will
be this winter. Interest rates are
lower and the credit strain has
been eased. This has made 1t
possible for many farmers who
were rather heavily involved to
refund their obligations and get
themselves in condition to win
through.
Still Some Dark Spots
There are still some dark
spots. In some sections weather
conditions were unfavorable and
crops were short, and farmers in
these sections are having a very
hard time of it. Freight rates
are still too high. especially for
those who must pay for a long
haul to market.
Taxes are high, but this IS
largely due to the increase in
local taxes, over which farmers
must exercise control.
There has been gratifying
growth in farmers cooperative
marketing associations, and more
of them are being organized on
a sound basis.
Aside from the help which
has been given by legislation ana
by administration activities, strong
economic forces are at work TO
restore more normal relation
between agriculture and other In.
dustries.
''The peril in the agriculture
depression is more keenly real
lied by other groups than eve
before, and on every hand a keel
desire is being evidenced to dc
what can be done safely to help
the farmer better his condition
Everything considered we
have good reason to expect still
better things for agriculture in
the year 1928"