The Wilmington morning star., 1940-02-11
Drought Conditions May Mar
Cash Crop Yields Through
Summer Months :

Based on a reasonable continue.
ton of present industrial production
levels, Federal farm officials have
forecast a 1910 total far mincome of
$40, 000, 900, 900. This compares with
the post-depression peak of $780,
424, 000, 900 in 1887, and approximate
ly $500, 900, 600 in 1889. Benefit pay
ments are included in the totals. For
this estimate, an optimistic view on
prices of agricultural products was
needed, as drought conditions in the
southwest are expected to reduce
the yield of winter wheat by 8 per
cent, and if moisture is not more
plentiful by spring, other crops will
suffer severely.
Unless unusually favorable grow
ing conditions prevail, the total 1910
wheat crop is expected to be less
than that normally taken for United
States consumption, which has ave-
ragged 6S5, 1000, 900 bushels during the
past ten years. Even with the sub
stantial c%arry-over it il unlikely that
any important amount will be avail
able for export. Nevertheless, world
demand will be effective in support
ing the general price structure, and
the second upward surge at the
Wheat Pit, which was in progress
at Christmas time, is probably not
the last. A bountiful corr crop in
the season just pass d has dictated
a restriction of allotted 1910 acreage
to 36,638,000, a decrease Of II per
cent from 1889. Because of a natural
tendency to speculation in war time,
the department is expected to have
some difficulty in assuring compli.
ance with new acreage schedules.
COTTON LESS DISTURBING
Cotton, which has been the No. 1
problem in agriculture for eight
years, is far less disturbing today.
The export subsidy has been all but
abandoned owing to the large TO-
reign demand which began to as
sert itself in November, and inten-
sified in December. Surplus stocks
are still so large, however, that the
upward price movement Is viewed
with alarm by some observers. Sud-
den cessation Of hostilities woull I'm.
d%oubtedly result in a severe shake
out and rapid return of all the prob
lens which have faced the govern
ment and growers. For this reason,
government officials h. a v e -subtly
sought to discourage the boom from
over-reaching itself.
The department Of agriculture,
which has proposed so many
schemes for giving the farmer a fl
nancial break that even the most
uncritical are beginning to wonder,
is reported to have been unsuccess-
full in selling it's latest suggestions.
These are supposed to embody a pro-
cessing tax in the form of stamps to
be purchased by manufacturers U.S.
ing farm products. This would un-
doubtedly be extremely unpopular
even if not thrown out by the libe-
rallied supreme court. Partial sue
cess with the surplus food stamps
in certain large cit y, in effect CIV
ing food to families on relief, is no
criterion of the success of a stamp
tax, which has a horrid sound on
American ears.
Most of the smaller crops are
bringing better prices than last
year, with the notable exception of
tobacco, now near the 1888 low. Soy
beans have become an important
crop, as a source Of industrial raw
material as well as for food. Beet
prices have, Of course, followed the
cane sugar market. The potential
threat to prices in the abandonment
Of quota restriction, it is felt, is
too temporary to carry any weight.
Restoration can be made at a mo
ment's notice if domestic growers
are embarrassed.
Sales of livestock in the second
half of last year were considerab'
ly better than in the first half. and
at better prices. This was due large.
lily to the improvement in consumer
income, and the prospect Of continu.
ance of this trend is good, at least
| throuob the first half Of 1910.