-5- 



and peanut--will be more than offset by decreases in output of lard and butter. The 

 productiob of domestic soap fats is expected to be about 150 million pounds lees than 

 in 19^^, and the output of paint and varnish oils from domestic materials will be 

 about 200 million pounds less than last year. Military demands £ire very heavy both 

 for the expanded military program and for relief distribution in areas -onder military 

 control. Lend-lease requirements continue large, and civilians would gladly consume 

 larger quantities than will be available for them. 



Farm income . Cash receipts from farm marketings for February were down k 

 percent from Februsu^y 19^* according to a government estimate. Part of this was due 

 to the inability to get boxcars to get grain to market. Sales of com in large sec- 

 tions of Minnesota, South Dakota and Nebraska have been retarded because of the high 

 moisture content and inadequate drying facilities. The decline in cash receipts from 

 livestock and livestock products in February was greater than usual and greater than 

 occurred in either 19^3 or 19^^. 



Farm labor . The number of hired workers employed on farms on March 1 was 

 down over 100,000 from March 1, l^kk. Snow cover and above-normal precipitation 

 probably contributed to the decline from March 1, 19^> but the severity of the reduc- 

 tion confirms the scarcity of able-bodied hands available for hire in rural areas. 

 The decrease in the number of family workers from March a year ago was rather small, 

 amounting to only about three-fourths of one percent compared with a 6.5 percent re- 

 duction in hired workers. 



Fewer potatoes than last year . The stocks of merchantable potatoes held by 

 growers and local dealers in the 37 late and intermediate states on March 1 were 26 

 percent below the record stocks a year sigo but 19 percent greater than on March 1, 

 19^5. The government has restricted the sales of potatoes in most of the principal 

 producing areas of the northern states to make sure the armed forces have adequate 

 supplies. 



Further restrictions on output for civilians . Sonne of the leanest months 

 of the war period were predicted for the home front during the past week. Included in 

 this prediction were food, tires, shoes and manpower. Even through the war in Europe 

 should end by midyear, no substantial increase should be expected in output of manu- 

 factured consumer goods for several months. The War Food Administration says, "The 

 end of the war in Europe will not materially affect the meat situation and will result 

 neither in lighter military demands nor in Increased civilian supply." Lend-lease 

 shipments of meat to Great Britain were cut 872 percent. There is an effort being 

 made to Induce the Army to be more conservative in its estimates of food needs, but the 

 armed forces will have first choice until victory is actually won. 



Savings at $tj.Q billion in 19Mi- . According to a press association report of 

 the Securities and Exchange Commission's quarterly emalysis of savings, the liquid 

 resources of the American public have Increased about $120 billicn since the beginning 

 of war production in 19^0. These resources Include largely cash, bank deposits and 

 United States government securities. The total at the end of 1^44 was approximately 

 $ll+8 billion. Americans have been saving nearly 25 percent of their income. In 1914-14- 

 the Amerlcaji public saved ^Uo billlon--ten times more than its savings in I9U0. 



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