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Argentina crop conditions favorable . In the November 12 issue of Foreign 

 Crops and Markets, the U. S. Department of Agriculture reports that weather condi- 

 tions in Argentina continue favorable for growing gr^-ln crops, with moisture supplies 

 now generally ajixple • The seasons there are Just the: opposite of ours . Last year 

 crop yields in Argentina were greatly reduced by a very severe drouth. We are in- 

 terested ia her crop prospects fronl both a humanitarian and an economic point of view. 

 Argentina iie an exporter of wheat, feed grains and flaxseed. Europe leaned heavily 

 on her ' for feed supplies before the war. If she has a good crop this yeeu:, she 

 will be able to supplement the available supplies of wheat euad feed grains that can 

 be sent to Europe from the United States and Canada. The acreage of grain in 

 Argentina is about the same this year as last yeeu?. Wheat acreage is down, but an 

 average yield would produce a crop of €u:^und 200 million bushels, or about 50 million 

 bushels more than last year. Oats ausreage is also down, but rye acreage is somewhat 

 larger than avereige and barley acreage is the largest on record. It is expected that 

 more rye and beurley will be harvested rather than pastured because of the favorable 

 price situation. Com is Just being planted now and a considerable increase in acre- 

 age is expected. 



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The public believes prosperity is Certain . On the basis of a survey made 

 in 125 cities and towns, Mr. Paul Ellison, of the Association of National Advertisers, 

 reported "a sharp swing toward greater optimism" in coniparison with a simileo* survey 

 in 19^. Eighty-three percent of the 5,000 persons interviewed said they were as 

 prosperous or more prosperous now than two yeeurs ago. Forty- eight percent plemned to 

 hold on to what they had saved during the war, while 13 percent intended to spend all 

 of it. This "sharp swing toward greater optimism" is highly slgnlf leant . Optimism 

 leads to prosperity. Overoptimism may lead to excessive debts and speculation and a 

 financial crash, but certainly prosperity was never built on pessimism. Mr. Ellison's 

 survey Indicated that most persons believed that they would be better off in a year 

 or two than they sLre now, that there will be more Jobs, lower taxes, and that wages 

 will be about the same or lower. 



GLJtwd 

 11/21^5 



