The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-07-16

Washington, July ia survey
conducted by the Department Of
Agriculture shows that an average
cash balance of $500 was returned
to the owner-operator in 1923 on
16,183 farms surveyed. In addition
to this margin OF cash receipts over
expenses, these farms increased in
ventories of crops, livestock, mach
inery and supplies $3.50 making an
average return Of $1,000 for the use
Of $17,49O of capital and the labor
of thief armer and his family. These
farms also produced food and fuel
consumed on the farm estimated TO
be worth $3.50 on the average.
The Department reports this to be
slightly better than the showing Of
a similar survey for 1922 on 6,09l
Owner-operator farms which averag-
ed a cash balance Of S175, increased
inventory Of 1902, and produced food
and fuel worth 1924 on capital
amount ng 10 SlO,4IO.
As the farmers adjust themselves
to normal conditions during the next
few years still further improvements
may be looked for. 1t is interest
ing in this connection to read what
the Department Of Commerce has to
say with respect to European crop
production and economic conditions
Asserting that Europe has furnished
and continues to furnish the market
for approximately 80 per cent of the
$1,000, 900 5000 worth of agricultural
products exported from the United
States each year, the Department
says:
Much of Europe's fortune was
consumed during the war, and guam
titles of its accumulated and reserve
wealth have been expended since the
war in meeting deficits. With low
er national incomes and increased
population income must be divided
among more people, and there has
resulted a marked decline in indi-
vidual participation and hence in the
standard of living" The Depart
ment finds the situation further ag-
gravated by the unequal distribution
of national income by reason of IN
balanced internal production, where
by certain classes are relatively as
well off as they were before the
war, while the standard of living Of
others has declined perceptibly. ut
is this latter body which is the lar
gest consumer of European agricul-
tural imports, and the class which
so largely creates the buying power
abroad for these products. These
conditions have a direct bearing up
on the demand for farm products
from the United States The De-
partment estimates Europe to be on
a level 60 to 70 per cent as high as
before the war, while agricultural &C
tivity has returned to between so
and 90 per cent of its pre-war level.
"Europe's actual import of essen
tial foodstuffs has not declined when
compared with pre-war imports, but
has actually increased in many in
stances" continues the Department
"When all the difficulties in the way
of progress are considered, it is &
striking commentary on the economic
vitality of the individual European
producer that he has been able t
maintain production and buying pow
er at even the present level. EurOp'
is infinitely better off today than j
was Immediately after war"
1t is also a striking cOmmentar!
on the economic ability Of Americ'
to hold as well as it has the larg,
share which it enjoys of the Euro
Pean market for agricultural pro
ducts, Notwithstanding the increas
ing competition which those product
meet in Europe from Argentina, Aus
t%ralia, Canada, and other food-prC