The Washington times., 1924-12-03

2 CVSl VI interest on productive en-
fterprise and to increase the bur
den-ef rent. It is altogether, like
" that such reduction would 80
encourage and stimulate invest
ment that it would firmly estab-
Ilsh our country In the economic
leadership of the world.
Would Develop Waterways
Meantime our internal deveIon.
n1ent should go on Prov;~id,,
should be made for flood controIs
% sucn rivers as the Mississippi
ana the Colorado. and for the
opening up OF our inland water.
ways TO commerce. Consideration
ave to >the project of bet
IeE navigation from the Great
lakes TO the Gulf. Every a..
tort ia being made to pro-
mote ian agreement with Canada
20 puild the st. lawrence
waterway. There are pendine, ~.
I0re the Congress bills for FIR.
liner development of the Mfssissinni
Dasln, Tor the taking over Of ina
cape Cod Canal in accordan with
moral obligation which seams
70 nave been incurred during fha
war, and for the Improvement. IF
narpors on both the Pacific and the
Atlantic coasts While this last
should be Invested of some Of its
projects and we must proceed
slowly, these bills in general have
my approval. Such works are pro.
ductive of wealth, and in the long
burden. S %~
Reclamation Program.
Our country has a well.defined
policy of reclamation established
under statutory authority. This
policy should be continued and
made self-sustaining activity adj.
ministered in. manner that will
meet local requirements and bring
our arid lands into a profitable
state OF cultivation as fast as there
IS a market for their products.
Legislation is pending based ON
the report OF the fact-finding com.
mission for the proper relief OF
those needing extension of time In
winch to meet their payments on
irrigated land, and for additional
amendments and reforms OF orr
reclamation laws, which are all
exceedingly important and should
be enacted at once.
Agricultural Problems.
No more important DEVELOPMENT
has taken place in the last year
than the beginning Of a restora-
ton OF agriculture to a prosperous
condition. We must permit no
division of classes in this country,
with one occupation striving to
secure advantage over another.
Each must proceed under open op-
portunities and with a fair pros
pect of economic equality. The
Government cannot successfully
insure prosperity or fix prices by
legislative fiat. Every business
has its risk and its times Of de-
preston. 1t is well known that in
J the long run there will be a more
, even prosperity and more salts
factory range of prices under the
natural working out of economic
laws than when the Government
undertakes the artificial support
of markets and industries. Still we
can so order our affairs. SO pro-
tect our own people from foreign
competition, so arrange our ma
tional finances, so administer our
monetary system, so provide for
the extension of credits, so improve
methods Of distribution, az to pro-
vide a better working machinery
7 for the transaction of the business
of the nation with the least pos
sible friction and loss. The Gov
eminent has been constantly in,
creasing its efforts in these direc-
tions for the relief and permanent
establishment Of agriculture on a
sound and equal basis with other
business
Crops Increase In Value.
1t Is estimated that the value Of
the crops for this harvest year may
reach $13, 0O0, 100000, which is an
increase of over $4,000, 000, 900
in three years. It compares with
$7,1O0, 900 900 in 1918, and If we
make deduction from the figures
of 1924 for the comparatively de.
creased value of the dollar, the
yield this year still exceeds 1913
in purchasing power by over
81, 600, 100000, and in this interval
there has been no increase in the
number of farmers. Mostly by
his own effort the farmer has de-
creased the cost of production.
A marked increase in the price
of his products and some decrease
in the price Of his supplies has
brought him about to a parity
The crop area Of this season
is estimated at 370,000.000 acres,
which is a decline Of 5000 900
acres from last year, and 5000, 900
acres from 1919. This has been
a normal and natural application
of economic laws, which has
placed agriculture on "A founda.
ton which is undeniably sound
and beginning to be satisfactory.
A decrease in the world supply
of wheat has resulted in a very
large increase in the price Of that
commodity. The position of all
agricultural products indicates a
better balanced supply, but we
cannot yet conclude that agricul-
ture is recovered from the effects
of the war period or that it Is
permanently on q prosperous
basis. The cattle industry has
not vet recovered and in some
sections has been suffering from
dry weather. Every effort must
be made, both by Government
activity and by private agencies,
to restore and maintain agricul.
ture to complete normal rela-
tionship with other industries.
Agricultural Conference.
1t was on account Of past depres-
sion, and in spite OF present more