The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-04-12
FRIDAY, APRIL IL, 1929


taking huge experiment in machnized farming,
units containing many four hundred thousand
acres, predicted recently in interview in the Mon
tana Free Press and reproduced last week in the Pro-
ducers News, that agriculture just entering a
period of unprecedented prospery-that the period Of
depression approaching the end of the cycle, and
that result the value of farms would again rise;
and that Montana lands especially due for a
markable rise in value
In an outburst of optimism, Campbell declared,
montana land is better buy than any stock the
neutrality-suspicious. offers the best financial opportu
mites in the world today, but few to realize it
The next eight years will witness unprecedented pros
perity in America, especially in agriculture"
We believe that Mr. Campbell is correct and we pen
this after much research 1t will be recalled that af
ter the Napoleonic wars, there great agricultural
depression both in Europe and America, which result
ed in the depreciation of land valuesa reaction to
high prices and development incidental thereto
during the 1t number of years before
farming become profitable again and farm lands
menced to rise in price During the administration of
Andrew Jackson period of comparative peace in the
world and great emigration of people from Europe to
the United States, land values rose rapidly in the
United States any land easily sold and supported
large loan values. The sale of public lands in the
west during this time paid off the public debt How
ever, the land bubble burst in 1887 during the first
few months of Van Buren's term, and land for
time drug on the market, but continuous heavy Euro
pean immigration sustained the demand and prices
again steadily until the Civil war; when agriculture
doomed and product prices and land continued to rise
until 1872, at the panic, when agriculture suffered
serious setback farm product values sinking and land
values breaking. The condition made acute
by the opening of the praires of the great west.
After 1876 agriculture commenced to revive and
ditiOns improved until the panic of 1892, Clevelands
second administration. Agriculture remained in the
doldrums until after 1885, when farm land values sag
ged to very low levels and farm mortgages went be-
low par In 1898 with the Spanish war, agricultural
product prices commenced to strengthen and continued
to rise until the panic of 1907 when commodity prices
fell, for while but again in 1908 and continued
to rise until 1912 when they again receded until
the outbreak of the World War in August 1914 FARM
land values had continued to rise from the upturn
starting in 1906 First farm mortgages were at a
premium the market and were considered the best
and safest form of investment After the start of the
World War, farm products prices scared and land
values pyramded, until the debace of 1920 when the
most devastating catastrope that befell agrcu
ture in America occurred, from which it has not yet
fully recovered, but is recovering
1t will be recalled that sheep and wool prices fell
low in 1920 and 21, but recovered. The bottom
went out of cattle in the fall of 1920 and the spring
OF 1921 from which it did recover fully until last
autumn The prices of hogs sheep and beef cattle are
satisfactory. The dairy business went through the
While the price of wheat has remained low the price
of corn is satisfactory Flax prices are on the rise
while oats are low because of the passing of the horse
both in the City and on the prairie farms The price
of rye follows wheat The price of sugar is low and
there is not much prospects of rise.
The rapid changes in farm power from horse to
tractor power has created great disturbances in prices
but the machinized farm promises profitable future
grain production in competition with horse power and
~
competing countries
So it seems that agriculture experiences its cycle
OF depression and prosperity, the same as the mining
and lumber and manufacturing industries 1t would an
pear that time is about ripe for the upswing in agr
culture, which Campbell predicts If this occurs lanc
values will return, the demand will increase and farm
mortgages will again go to a premium and those nos
sessed OF land will find themselves in the same happy
situation as those who own stocks in industrial
enterprises
"hen the upswng in farm prices occur, Montans
anu onerldan county lands will make great gains il
values Because of distance from market and dry
years during the peak of war prices farm land ifI
uon did not occur in the dry land sections of Mon+an.
as tney did IN other sections which accounts for tha
present extremely low pricesprices that are rock hot
Oom and cannot go lower-and which will allow great
increases before they reach comparative vaue will
lands to the east.
Tom Campbell goes to say "Seventy-five per cent
OF all farm relief problems can be solved with ON,
present laws; all that need the courage TO enforce
them" ~ eAAOi0'
Mr. Campbell remarked further, 'The farmers buv
ing power is S11OO0O0000O less than it was nino r
ago. Restore that buying power and you are goin r
nave some business" This is obvious Restore tb;,
Ouymg power and surplus labor will find employment
ana wll commence to consume, which will he raflocaS
immediately in farm commodity price advance.
'us' give us another good crop this year and vatc,
our land values go up" says Campbell. ""''i
oampOeii calls attention 10 the fact that ~Nontar
farms are losing % cents per bushel on vboa+
oOOOOO per year as the result of improper vradinr
sass UampDeli The power of these grading stand
arus mes with the department of agricu,ra anI :
new legislation is needed" This s11 ooo ooO ana