STATUS OF AGRICULTURAL ENTERPRISE 243 



duced the same result. The inevitable effect of 

 overproduction of any staple crop is to increase 

 the exportable surplus. As this excess affects the 

 world prices, it correspondingly depresses the do- 

 mestic prices. 4 It is much simpler to formulate 

 this problem than it is to solve it. But it seems 

 that the application of a theory based on sound gov- 

 ernmental and economic principles offers more prom- 

 ise of success than one based on artificial devices. 



It goes without saying that agriculture is at best 

 a hazardous vocation. Uncertain seasonal condi- 

 tions, damage from storms and insect pests will 

 probably always make it so. Farmers should never 

 forget, also, that there is no substitute for thrift, 

 energy, and work in making farming a profitable 

 enterprise. But after this is said, it should be recog- 

 nized that agriculture is entitled to the same gov- 

 ernmental encouragement and assistance that is 

 accorded to industry and transportation. As the Na- 

 tional Conference Board has said recently: "Farm- 

 ing is more than an industry. The significance of 

 agriculture in the life of the nation is far deeper 

 than this. It touches something vital and funda- 

 mental in the nation's existence. It involves the 

 national security, the racial character, the economic 

 welfare, and the social progress of our people." 5 



4 Edwin G. Nourse's American Agriculture and the European 

 Market in the Institute of Economic Series is an informing analy- 

 sis of this situation. 



5 The Foreword to The Agriculture Problem in the United 

 States. 



