The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-01-01
AGRICULTURE

Copyright 1922, Icy Public Ledger 90,
Conditions on farms Of the United
states were not cheerful early in 1897
This was true in all branches Of agri-
culture. Wheat and cotton sold AZ
the lowest prices In years. while to-
barco sales were unsuccessful grow
ers In many states advocating radical
reductions In acreage.
one Of the first favorable factors
was the resumption Of farm loan bank
activities March J. 4 court decision
opened the market Tor the sale OF
bonds OF these organizations. The
land hanks agreed ON uniform rules
soon after and 5 90. 900. 0CO in credit
Ia the corn helt were taken over. The
total holdings OF grain at this time
were the greatest In the history cf
the country.
Cpen weather in March was n big
aid to crops. At the same time mar
ketinr organizations In an sections Of
the ountry began 20 aid In the res
|toration ut normal conditions In farm
communities. Flour then was selling
around $3.50 a barrel the lowest price
In seven years ana fn per cent under
She previous year The success 81 the
land banks was assured when fnnn-
cial firms sponsored an offering Of
$4,000 u0O o per cent bonds.
The farmers were among the first
TO make Establishments steady sales
Of products and rigid economy en-
abled them to mees the dShts TO banks
and stores. Tho outlook FOR ron OF
the entire world was splendid. Winter
wheat sowed IN eVcnteen countries
aggregated 90. 400. coo acres. President
Harding. May %. signed the tcmpor-
AIRY tariff law. placing q duty OF farm
I products. effective for six months
/ Plans Of organization Of the Farmers
Finance corporation woth siO0. O00,-
OOO canltnl also were announced. For
eign shipments Of grain were large
and the Japanese were big buyers of
flour at the Northwest mills.
Cotton consumption In April show
ed a decline from previous months.
The crop as CT MAY 25 was estimated
at SO per cent Of normal The world
cotton crop. according to the depart
meut Of agriculture. for 192O-2i was
set ~ 1881 00O bales.
The Federal Reserve Board early In
June recommended y $50 coo. coo live
stock loan n u week later q pool for
This amount was announced by banks
and was approved.
The crop report of June s indi-
Gated % -ain ~ g3.0OO.0G0 bushels in
wheat over ,g2O. Oats barley and
hay. however. fell off The wheat
crop "a month later showed q loss OF
~ .WNW. QUO hu@nflSs WHO "a bumper
corn crup seemed assured
Great heat and long periods Of
! drought were encountered In July.
the government estimating that the
general crop loss In that month
amounted to $3.50. coo, 600. All pro-
duets we're affected. corn. wheat. oats
and potatoes suffering losses tutaling
] $4,000. 000 bushels.
The August cotton report. telling
! Of a low condition, caused n sharp rise
In price and the report In September
Indicated the smallest crop In thirty
three years. The prediction was T..
| O37.00O bales. or a loss OF i.il6. 900
b. Les. Exports did much To help the
southern farmer Foreign shipments
for the year. 10 vas predicted. would
roach 5000. 600 bales. September -
heavy bidding resulted In an advance
Of S7.25 a balc.
This was followed October 2 by the
report on the cotton crop
condition. The government estimate
placed the yield al only i29 per cent
| Of normal the most disastrous in the
history Or the United States. The
price was skyrocketed. This estimate.
later found TOO he nearly 1000. coo
bales below the actual condition. 4
said to have CAUSED a loss Of about
$50 non 600 to traders n manufac-
turers. ~ 10 ginning, S3.1 pes cent
Of the crop wus turned out by October
-
Wheat during this period was de-
clininE In price and on November 4