Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-09
FINE CROPS PUTTING
WESTERN FARMERS
BACK ON THEIR FEET
HY DAVID LAWRENCE
Especial Leased Wire to The Journal-Copy-
rinht 1901

WASHINGTON, Sept. 6.--Opti
mism is coming in from the north
west in such a steady stream that
genuine happiness is written on the
| faces of the many officials OF the
government who have had to worry
about the agricultural situation In
| the last three years.
| Because this is a campaign year,
there is tendency to discount op'
| timism. The first reports about
| bumper crops, it was originally
| thought, might be exaggerated. But
the letters received by the war fl
nance corporation have continued to
| be of such a favorable character
| that no longer are any doubts en-
| tertained Many a letter received
from responsible sources and we'll
informed bankers and business men
comedies with other communications.
| The simple truth is that these let
ter writers have no political axes to
grind. The war finance corporation
is an agency which lends funds. 1t
already has lent millions. 1t is the
emergency institution which Is con-
cerned with the credit situation gen
orally in the agricultural regions.
If crop conditions are good, the
| money lent will be coming back. 1t
Is to the interest of the war finance
| corporation not to be deceived. SO
it's information may be taken as
authentic so far as official data
gathered from agents is concerned.
| 1t is supposed to be a .non-pol1tlcal,
exudes optimism today for the flrst
time in many months.
Eugene Mayer, Jr., managing dl-
| rector of the war finance corpora
ton. is conservative and cautious
| in his statements. His latest declara-
tfon is that there will be an increase
| of over 3O,OOO,000 bushels in the
| wheat crop of North Dakota, South
| Dakota, and Montana, as compared
with 1928. This increased yield was
developed on from 10 to ID per cent
less acreage than before.
This is perhaps the most sign1ti-
cant fact about the agricultural sit
uation. For while agricultural prices
are high, relatively speaking, the
farmer has produced more per acre,
so his financial return is correspond
ingly greater. 1t means that even
with drop in prices the farmer
would still be better off than before.
His return per acre would be great
err than last year, in any event.
What has happened, in sense, is
that favorable weather in America
conceded with unfaVorable weather
in other wheat producing countries.
Will these conditions continue next
year? Nobody knows. That's the
gamble in farming always. But the
bumper crop and the high prices are
the best piece of good fortune the
agriculturalists in the country have
had in generation. 1t Is the sue
ncession of bad years which freezes
up the credit situation.
The War Finance corporation
looks forward to a general reduc-
ton in indebtedness all along the
line. Bankers are writing enthusi-
astically that the turn has come
and that sections of the country
which were hardest hit have been
particularly favored with good crops.
Corn crops are not so good, as
weather conditions have not been
altogether favorable, but the high
prices have helped the corn grow
ers materially. The cattle raisers
are not as we'll off as the others.
but the War Finance corporation
says pointedly:
can indirect effect Of great inn
portance to the breeding end of the
.. livestock business-which may be
hoped for a little later if not inn
mediateIy-is the resumption of cat
tie buying by the northwest. 1t
is reasonable, in any event, to eX-
pect better prices and broader
market for breeding animals in view
of the general trend of other agri-
cultural prices in the upward di-
rection. The outlook for hides has
been improving for the past two
months"
The word agriculture is a broad
term No doubt there are sections
and individuals still wrapped in pes
simism but the general trend is quite
the opposite.
Vital Factor in Politics
Politics this year as always is so
much interviewer with the prosper
ity and materialistic side of the cleo
torate that favorable agricultural
! conditions cannot but be viewed as
a vital factor in the coming pres
idential elections. The discomfort
and rebellion in the west in the Re
| publican party has coinciCed with.
| if it has not been caused by, I'M
| favorable farm conditions. Radical
ism rarely thrives in contentment.
President Coolidge has been told
| that the improvement in the agri-
cultural situation will not altogether
| eradicate radicalism this year in the
west, but it will reduce by large
blocks the radical vote of other
! years, so the big question is whether
the gap between the Democratic and
Republican parties in teh solid Re
publican states is big enough to
permit of OBJECTIONS to La Toilette
and still leave a Coolidge plurality.
The Republican theory is that il
things go we'll with the farmer, he
will not want change, because he
dislikes uncertainty. Nature Is
therefore the biggest ally Mr.. Cool
idges political campaign has won.
For it is admitted that a continuance
of distressing conditions would have
meant serious losses in the electoral
college. Instead today, there is SUI
preme confidence in the White
House that the west will stay regu-
lar.