Evening star., 1937-08-23
FARM INCOME SEEN
OF S9,0DO,o)D,O(O;
BEST SINCE 1929
u. S. Economists Predict a
Billion Dollar Jump From
Last Year.
MORE EVEN DIVISION
OF CASH ALSO EXPECTED
Wheat, Apples and Tobacco Will
Show Largest Gains-Corn, Live
Stock at '36 Levels.
BY the Associated Press.

BY the Associated Press.
Government economists predicted
today that marketings of this seasons
principal crops plus Government bene-
fits will put s9,O0O,OOO, 900 in the
pockets of farmers, making it their
most prosperous year since 1929.
This figure is over billion dollars
more than 1886 cash farm income,
which was s7s65 100000 and more
than double the 1882 depression low Of
s4328U00,000. The 1929 total was
s10,47g, 900 900.
A. G. Black. chief Of the Bureau Of
Agricultural Economics. said 1887 was
more favorable in another respect
the larger income is more evenly di-
vided over the Nation because drouehts
failed to damage crops of extensive
regions as in 1884 and 1896
The increased flow Of dollars to
farmers resulted, Black said. from IN
proved demand for farm products due
to general business recovery. reduction
of supplies by recent droughts. and
farm programs carried on by the Fed
eral Government"
Corn Won't Share in 1t.
The income survey estimated Gov
ernment payments to farmers in 1887
would amount to s40O, ,O00,0 900 or $3.50
O0o,O 900, compared with s2s7 100000
in 1896. Speeding up payment checks
accounted for the gain.
Income from farm marketings will
run 1000, 900 900 ahead of last year.
the economists said, chiefly because of
larger crops this year.
Wheat, apples and tobacco will show
largest gains, they said. while cotton
and cottonseed vegeta bles and all
grains except corn should surpass 1885
totals.
Income from live stock and live stock
year. they predicted. shorter market
| supplies of1setting higher prices for
| cattle, hogs and other animals.
Income from dairy products is ex-
pected to run per cent above last
year while that Of poultry and eggs
may be less because of lower prices.
!
| Yearly Totals
Cash income of farmers averaged
about $4,000, 900 900 for the period
l924-28. Annual totals since then:
1929-s1O. .479 100000.
| 1e30-s8,45l 900. 900.
1876 ,899 100000.
1e32-s4 1923, 100000
1885 lit, 100000.
| 1934-s6. 348. 100000.
1855 .oeo 900 900
1866 .865 900 900
1873 900 100000 preliminary
Some s300O,OOo0oo worth Of mort
gage money and other loans mean
while have been advanced by Federal
agencies. Repayment depends upon
profits in corn, cotton, wheat. hogs
and other major farm products.
Economists at the Agriculture and
Commerce Departments disclosed that
there have been two big shifts in farm
mortgage Indebtedness during recent
years.
The total mortgage debt on farms
was reduced more than sl,500, 100000
from 1880 to 1885. The totals at the
beginning of those years were $4,000
100000 and $1,000 100000 respectively
U. S. Holds 40 Per Cent Of Them.
While this reduction was taking
place, the Government agencies more
than doubled the percentage of the
mortgage debt they held In 1923
they financed about IL per cent of
farm mortgages and in 1885 nearly
80 per cent.
The economists said both these
trends continued in the past two years
so that holdings of Federal farm loan
agencies now equal around 40 per
cenI of the farm mortgage debt"
The reduction in the mortgage total
was described as a painful process
that included drastic decline in farm
incomes and land values which forced
distress liquidation through loss of
farms by foreclosures and similar
transfers"
Organization Of the Farm Credit
Administration resulted in shift of
many mortgages from insurance COM
panies, banks and other private
sources to the public agencies.
The largest mortgage reduction
boye hooy, IN, tho rory, holt