LIBRAKY 

 NEW YORK 

 BOTAf«»CAL 



«AHt^&N 



REPORT OF THE SECRETARY Of AGRICULTURE. 



Washington, D. C, Noverriber 15^ 1923. 

 To the President: 



It is a satisfaction to be able to record marked improvement in 

 agriculture during the past year. Prices of many agricultural 

 crops are higher. Cost of production has been lower, and there has 

 been some reduction in prices of the things farmers buy. 



In 1923 farmers planted 341,000,000 acres of the 14 principal 

 crops. This was an increase of more than 2,000,000 acres over 1922. 

 The production of these 14 crops is estimated to aggregate 265,000,000 

 tons, which is about the same as in 1922 and 11,000,000 tons greater 

 than the 10-year average. 



Taking the value of the 11 crops — corn, wheat, oats, barley, rye, 

 buckwheat, flaxseed, potatoes, sweet potatoes, hay, and cotton — as of 

 October 1, except in the case of com (which is taken at the December 

 future prices as recorded for the first 15 days of October) , we find 

 that this value was $5,289,000,000 for 1921, $5,711,000,000 for 1922, 

 and $6,947,000,000 for 1923. In neither year does the sum indicated 

 include the total value of farm crops grown, but for comparative 

 purposes the values of these 11 crops for the years mentioned indi- 

 cate the substantial increase in the money received by farmers in 

 1923 as compared with 1922 and 1921. 



Not only will the total general farm income be considerably 

 greater for the year 1923 but this income will buy relatively more 

 of the things farmers need than for some years past. The purchas- 

 ing power is greater. Hence farmers generally are better off both 

 actually and relatively, and this is reflected in their increased pur- 

 chases, which in turn has helped general business. The farm pro- 

 ductive plant has seriously depreciated during the past six years, 

 \ first because of war conditions and later because of forced econo- 

 mies. As the farm income increases, therefore, farmers will buy 

 J more and more freely of the things they need. 



1 



