The Semi-weekly Madison County Democrat. (London, Ohio) 1923-19??, 1933-03-17
CLUB MEETS AT
LILLY CHAPEL
Continued From Page One)

rather than the regular third Thurs
day date. Rev. Fischer is a former
rector of the Trinity Episcopal
church of London.
! L. H Barnes, Specialist in Rural
Economics from Ohio State univers-
ity, spoke to the group on the gen.
eral economic situation, substituting
i for C. r. Arnold who was unable to
be present.
i Mr.. Barnes reviewed some of the
causes of the present economic crisis
He said that while farmers We're bur
dened with debts and high interest
the real problem was price prob
lem. He stated that farmers are
only receiving prices 40 per cent as
high as the period from 1910 to 1914
Other prices have not come down IT
proportion. The average of the all
! commodity price level stood at IS
per cent of pre-war on February 10
Commodities farmers have to buy
stood at 1O4 per cent of pre-war on
February Is. Farmers prices have
dropped Ga per cent since 1929
Other prices have dropped only 81
per cent in the same time.
Mr.. Barnes showed chart OF the
price level since 1900. Using 1917
to 1914 as base, prices rose to 22f
in 1872 and dropped rapidly back te
100 Immediately following the Wal
of 1872, reaching the low point in 81
years. Prices remained on about this
same plane until the Civil War when
prices went up to 1876, and dropped
suddenly and hit the low point in 81
wears. Prices went up again durlne
the World War to 225 and have
dropped for 13 years. He stateo
that he did not think prices would
continue down for II more years but
that they would stabilize somewhere
near the pre-war level.
/ A second chart comparing prices
received for farm products and pric,
es paid by farmers for commodities
showed that prices of agriculture
products rose faster than other pric.
es during the World war and dropped
sooner and faster after the war.
-Four things helped to pull the
country out of the depression lmme-
diately following the war. They
were good export trade, the building
boom. the automobile industry ane
installment buying. None of thess
factors are working effectively now
Barnes stated.
| Net agricultural production in 1881
was less than 1926 and price was Al
less. Production in 1882 was elgn'
per cent less than 1881 and prices
still lower Consumption of fooe
! stnffs has not fallen off. Cold stor
ape holdings Of food products are
lower than last year and lower thar
average. The only increase in stor
age holdings was in turkeys.
| Mr.. Barnes gave as reason tol
low prices now the loss OF expof'
trade. Hog exports dropped iron
13 million head Of hog products II
1929 to 100000 head in 1892
Wheat and other export products
! dropped in like manner.
European countries have been OIL
the gold standard and it is extremely
hard for country on the gold stand,
ard to do business with countries OH
the gold standard.
| The speaker mentioned initiation
price fixing, the allotment plan ane
! other proposals for solving the
problem. He pointed out the weak
nesses of these plans.
! He stated that we hope that the
present confidence indicated in oui
banks will stop the downward treno
in prices. Industry will not start
buying until it is sure that prices
will not be lower tomorrow. Wher
buying starts prices will start up
Barnes stated.
The committee in charge OF the
program and entertainment included
Mr.. and Mrs. J. S. Lewis, Mr.. ano
Mrs. C. X. Truitt, Mr.. and Mrs. &c
Byers, Mr.. and Mrs. ]. F. Afford
Mr.. and Mrs. T. W. holland, Mr.. ane
| Mrs. Farmer Norton, Mr.. and Mrs
B. C. Sidner, Mr.. and Mrs. Rober'
Thomas, Mr.. Will Byers, Miss Lou
ella Byers, Mrs. ]. B. Roseberry
Rev. ]. A. Shirer, Mr.. S. A. Sidener
Miss Flora Truitt and Mr. Robert
Roseberry.