Report of Missouri Farmers' Week. 



519 



been a very gratifying thing, indeed, to us at the college that the 

 farmers of Missouri have shown their appreciation, of our efforts 

 in putting on this farmers' short course and in throwing open our 

 laboratories and class rooms during this week. We welcome you 

 most cordially. I hope your visit here this week will be profitable 

 and extremely pleasant, and that you will come again. 



ADDRESS. 



(President S. P. Houston, Malta Bend, Mo.) 



At the close of another year it may not be amiss to congratu- 

 late the cattle feeders of the State upon the 

 measure of success and the abundant pros- 

 perity which has rewarded their efforts. 

 The high level of prices which has been 

 maintained has been such as to excite the 

 envy of some and to provoke the criticisms 

 of others, but the results attained have 

 been due to the natural trend of events, 

 rather than artificial causes and manipula- 

 tions. 



What the present year may hold in 

 store for us will depend upon the amount of 

 intelligence and conservative good judg- 

 ment we put into our business, for numerous 

 and great as have been the obstacles overcome in the past, the 

 future looms up with even greater and more perplexing problems. 

 The past year bears with it a record in the live stock industry' 

 which doubtless will not be repeated again within the lives of the 

 present generation. The causes leading up to the present condi- 

 tions are not of recent origin, neither are they the result of spas- 

 modic seasons of over or undermarketing, after which the reaction 

 may seem premature and the advance in prices appear inflated. 

 On the contrary, the causes are well defined and the shortage of 

 beef-producing animals appear to be world-wide, rather than 

 national. By the same logic of events it is also evident that radical 

 changes must be brought about before a final solution of the prob- 

 lem will be obtained. 



Economic tendencies and principles bear upon our business in, 

 various ways, and if we hope for any great measure of success in 



S. p. Houston. 



