THE IMPACT OF WAR 99 



because of his mounting expenses, netted him even less. Indeed, the farm- 

 ers sometimes felt that they had a grievance, for the government had 

 exerted its authority by intervening directly to control the price of wheat 

 and indirectly to keep down the prices of hogs and other agricultural 

 products. The cost-plus method applied so generously to packers, ship- 

 builders, and contractors had not been made available to the farmers. 

 Nor was there any way to figure the loss in fertility that came from plow- 

 ing up land to expand grain growing nor the damage done by short-term 

 tenants, whose wasteful methods greatly depreciated the value of the 

 farms they exploited. Wallaces' Farmer, fascinated by the cost-of-produc- 

 tion problem on the farm, figured that the average cost per acre to produce 

 a field of corn was $19 in 1917 and $23 in 1918, whereas during the period 

 1897 to 1906 it had been $10. Good farmers might spend as much as $40 

 an acre on their corn. All this was very well if the price was high enough 

 and the yield was good, but at best the farmer took grave risks. The same 

 journal held that western farmers who had made a profit of $18 per acre 

 on their corn in 1917 probably made not more than $9 per acre on the 

 1918 crop, and the next year even less. As for net returns per hour of labor, 

 the following calculations, while by no means entirely dependable, give 

 some idea of what the farmer thought he was making. 24 



NET RETURNS PER HOUR OF LABOR 25 



Iowa North Central States 



/9/7 igi8 79/7 



Corn .98 .88 .92 .52 



Wheat 1.26 i. 08 .88 i.oo 



Oats 1. 10 .58 .98 .68 



Rye .93 .77 .84 .40 



Barley 1.63 .58 .72 .23 



Potatoes 1. 1 1 .44 .85 .65 



Hay .13 - .60 .77 - .05 



Although most farmers seemingly failed to see the breakers ahead, a 

 few warning voices were raised. The editor of Wallaces' Farmer repeatedly 

 pointed out that prices were bound to drop at the close of the war and 



24. Wallaces' Farmer, XLIII (November 29, 1918), p. 1741; (December 27, 1918), 

 p. 1891; XLIV (March 14, 1919), p. 660. 



25. Ibid., XLIII (December 27, 1918), p. 1891. 



