Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-08-28
COOLIDGE RELIEF
COMMITTEE WILL
GET FULL REPORT

WASHINGTON, Aug. 25.-Ameri-
can agriculture, since the slump of
1920, has not yielded a commercial
interest return on its invested capt.
tai or a fair wage fer the average
farm operator and his family. This
conclusion, reached by agricultural
department experts, probably Will be
one Of the first to be placed before
President Coolidse's proposed agri-
cultural relief committee.
Other conclusions arrived at by
the departmental experts, who re-
Gently have completed a series OF
studies of farm income, also are ex-
Dected to serve as basis fC" data Tor
the prospective committee, which
the president, in his acceptance
speech, said would be appointed for
the purpose Of helping agriculture
Ito a basis of economic equality with
other industries.
Information gathered by the ex-
perts shows that the low point of
asric !,,.-al depress was touched
in 192O-21, with some Improvement
the following year. In the last two
years the improvement has been
quite noticeable, and the depart
ment asserts indications are that it
will continue.
AS a means Of gauging how the
agricultural depression has affected
farm standards of living in the four
years since 1920, the department
points out that in this period whole
sale prices of all commodities de-
clined % to 80 per cent, that re-
tail prices of twenty-five food ar
ticIes 20 to % per cent, and living
costs 10 to Is per cent, while the
average farmers income declined as
much as so to " per cent.
Some farmers, it is stated, DOUBT
less made satisfactory profits in the
denression period, but it is certain
that a majority received only low
returns or suffered losses. The
average farm operator after deduct
ing a commercial interest return on
his capital, actually earned less than
was paid to common hired hands
during the five-year period, accord
Ing to the studies.
Interest paid on total farm lndeDt-
edness consumed all capital earnings
in the crop years 1920-21 and l92l-2Z,
the statistics show. In the next two
years, there was a return OF 81 per
cent on the total capital invested.
This investment was written down
from $40 SOY 900, 900 in 1920 to $o9,-
400 900 900. Land and buildings by
themselves were written down from
S66,316 900 900 to 4S,300, 900, 900. That
Is the departments estimate of the
extent to which the value of prop
ertv used in agriculture declined
from 1919 to 1924. While the de-
cline in the current value of the
country's agricultural prosperity rep
resents to a large degree paper
loss rather than an actual loss, 1t
is nevertheless important to the
large number of farmers who bought
land and equipment when prices
were at their peak.
The gross income of American ag-
ricuIture, that is, the value of it's
production, less feed and seed, has
been compiled for the years of the
depression as follows:
1920, $15,S30, 000,0 900; 192O-21,
$12,7S2 100000; 1922, $9,552, 00O,-
900; 1929 $10,592, 100000 and
1924, $11 ,467 900, 000N
The net income after taking care
OF operating expenses, taxes and de-
probation, for the same years was
$4,954 1000, 900, $43S 900 900, 1855, 000,-
900, $1,916, 900 900 and 1883, 100000.