Evening star., 1925-05-23
BY ROGER w. BABSON.
,ial Dispatcb to the Star

Special Dispatch to the Star.
WELLESLEY HILLS, Mass, May
23.-The farmer continues to be the
principal subject of discussion in the
Pullman smokers. There still are
those who feel that he Is a pampered
pet and should be babied no longer.
They believe that the only law worth
while is the law Of supply and demand
and that all other laws are useless and
should be wiped off the statute books.
Then there are those who believe that
the farmer is the basis of all prosper
ity and should be subsidized and main
tanned like the Army or Navy. Both
of these positions are extreme.
3O,O0O,OOO Depend on Farms.
The simple fact is that farming is
business and, like any other business,
is subject to fundamental economic
laws. 1t should be allowed to work
out it's future through the survival of
the more efficient, the same as must
the automobile, textile and steel busi-
nesses. Farming Is subject to the
same temptations and opportunities as
other lines, and the farmers should be
willing to suffer or prosper according
to their industry, judgment and cour
age. On the other hand, it should be
recognized that the farming industry
is the greatest of American industries
and that the prosperity of all of us is
vitally dependent upon the prosperity
of the farmers.
Nearly 10000 900 people in the
United States today are directly or in
directly dependent on farming. Hence,
when the Spring comes around each
year and the millions of acres are
turned up and planted to wheat, corn,
rye and a hundred other crops, it
should be a solemn occasion and one
worthy of the profoundest respect and
attention.
Three Success Factors.
The prosperity Of the farmer is de-
pendent upon three things: Q Salts
factory weather conditions yielding
good crop; (2) A fair price, not so
high as to result in overproduction
the following year, and not so low as
to make 1t impossible for him to get a
fair recompense for his labors: 90 A
normal labor and commodity market
in order that his operating expenses
may not be out of line with his in
come. For me past few years the
farmer has had fairly good crops. but
the price of farm products has been
abnormally low and the cost Of labor
and supplies abnormally high. Last
Summer this situation began to right
bushel, corn to S129A, and rye to
$1.59A in the closing months Of 1924.
Since January and February most
markets have declined. but there has
been no such slump as many people
are prone to represent.
Better Off Than Year Ago.
The farmers of the country are to-
day distinctly more prosperous than
n or Wheat
about 81 cents higher, corn 38 cents,
and rye 81 cents higher than year
ago at this time. The April exports
will show that the foreign demand for
cereals is still large and that the same
thing applies to the foreign demand
for cotton. Statistics indicate that the
world needs an American cotton crop
each year of from 100000 to 14,OoO,-
600 bales, which requires an American
acreage Of at least 40,000,OOO acres de-
voted to cotton.
It should, however, be remembered
that cotton Is different from wheat.
When there is an extra large crop
of cotton an increased demand can
easily be stimulated by getting people
to use the occasion OF replenlshlng
their cotton stocks. The demand Tor
wheat however, cannot be easily st1m-
uIated. as people will only. eat so
much bread and, as they become more
prosperous, tend to cut down rather
than increase their per capita wants.
However, as. above stated, the exports
of both cotton and wheat are thus far
running ahead of last year. Statistics
clearly show that the farmers of the
country are in a distinctly better
condition than they have been for
some years.
Values Show Marked Gains.
The farmers improved condition is
evidenced by the reports on various
allied industries. For instance. the
agricultural implement companies.
which have been in a precarious posi-
ton since the war and have been
obliged to charge off tremendous
losses. are gradually coming back to
thsif 1wr: Thha stock OF tbs internal