The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-11-09
farm Cash INCOME
TO show BIG GAIN
WALLACEDECLARES
agriculture Secretary Says Pro.
9rsss % Uneven But New.
ertheless Noticeable

washington, Nov. 0.-(R)-A fore
cast that farmers cash income for
the period from August to December
would show an increase Of 20 per cent
over the same period Of last year was
issued Wednesday night with Secre.
tary Wallaces approval.
The secretary distributed the state
ment under the signature Of his econ
omic advisor, Dr.. Louis H. Bean.
1t predicted that farm income
would be sharply increased" by bene-
tit payments being made as part of
the farm adjustment program.
The statement said the sections of
the country in which incomes Of pro-
ducers have been and are being ina
terially increased" are the cotton,
wheat, tobacco, and corn and hog
belts.
I'm these sections millions of dol
lars have been paid or are to be paid
to farmers who make required adjust
ments in production" 1t said.
Other areas are benefitting as
result Of marketing agreements which,
among other things, are designed to
improve prices paid to the farmers.
Farmers Buying More
THE higher level Of farm income,
though spotty, has already been re-
Elected in increased farm buying. Mail
order sales in general are at least rs
per cent higher than they were year
ago and in the south tho volume Of
farm purchases has risen much more
than this, because Of the considerable
rise In farm income due to the cotton
and tobacco adjustment programs,
similar effects are being noted as
benefit payments reach communities
in the wheat and corn and hog belts"
The increase In farm price has been
uneven with price Improvement. the
statement said, In general benefitting
wheat, cotton and tobacco growers
most, dairy and hogs somewhat, and
a number Of other farm products very
little.
The prices Of livestock and live
stock products "have not shared the
speculative effects accompanying the
new monetary policies. but have fol-
lowed quite closely the expansion In
factory payrolls, demonstrating the
great dependence Of the farmer on
consumer purchasing power" the
statement said.
Drop In Dollar Helped
"As the value Of the American dol
lar abroad declined from 100 cents III
March to "a cents In July. the aver
age OF farm prices advanced from 50
per cent OF the pre-war level to IS per
cent. BY the middle Of October, the
value Of the dollar declined further to
50 cents; but prices received by farm
ers declined to 68 per cent of the pre-
war level, as speculative and industrial
activity subsidized from the sharp
peaks Of June and July. Some price
Improvement took place during the
last part OF October.
In general, farm prices at the END
OF October had q purchasing power
about % per cent greater than they
had last March. when 1t was only hall
as much as in the pre-war years. The
general level Of farm prices advanced
from so per cent Of pre-war parity
last March to 81 per cent as OF Octo-
Der Is. At the same time there were
KEC6tGI lllCICNSCO Au pASSSS -
farm commodities and smaller IN
creases, or even slight losses In others.
Convinced Of Success
At his press conference wallace as
serted the Roosevelt administration IS
convincted its farm program will sue
coed and has no intention OF abandon
ing it for substitutes as . result OF
,nidu,nsf farm unrest
The secretary disclosed that the
corn loan program. announced two
weeks ago. would be broadened TO
make possible a much larger volume
Of loans to farmers In the corn belt
than had been planned previously.
At the same time Wallace said that
the agricultural adjustment admins
tration does not contemplate loans on
wheat such as it Is making on cotton
and plans to make on corn.
It Is satisfied that farmers signing
contracts to reduce wheat paintings