PRINCIPLES OF VALUE AND PRICE 447 



comparison with population makes it plain that in spite of the fact 

 that the United States is now passing through some of the early and 

 middle phases of agricultural land exploitation, it nevertheless appears 

 that the final stage of better agriculture and increased production 

 per acre has been reached in many states for a varying number of 

 crops, and that production per acre is not only beginning to exceed 

 the normal increase of population, but really to exceed the actual 

 increase. 



The ability of the soil and of the agricultural arts and sciences to 

 produce crops at a rate of increase greater than either the normal rate 

 of increase of population or the normal as temporarily influenced by 

 immigration, has been demonstrated times innumerable by the 

 Department of Agriculture, by the experiment stations, and by intelli- 

 gent farmers all over the country. The potentiality of agricultural 

 production as a national achievement sufficient for growth of popula- 

 tion has been so numerously and so thoroughly demonstrated as to 

 be now beyond intelligent question. The Farmers' Co-operative 

 Demonstration Work, now carried on in 12 cotton states, employs 

 375 traveling agents and has many thousands of demonstrating farms. 

 It is proving by results on thousands of farms that preparation of the 

 soil so as to make the best seed bed adds 100 per cent to the average 

 crop on similar lands with an average preparation in the old way; 

 that the planting of the best seed makes a gain of 50 per cent; and 

 that shallow, frequent cultivation produces an increase of another 

 50 per cent, making a total gain of 200 per cent, or a crop three times 

 the average crop produced on those farms where the plans and methods 

 of the demonstration work have been adopted. 



139. MISCELLANEOUS FEATURES OF MARKET SUPPLY 1 



There was a scarcity of potatoes free from sprouts this week and, 

 as the call was fairly active, the market made slight gains. 



During the middle of last week some dealers predicted that butter 

 would gradually advance until it went to a maximum price of 27 cents, 

 but the warehouse report on Tuesday, which indicated an excess of 

 19,000,000 pounds over a year ago, making a total of 82,844,000 

 pounds, had a stunning effect. 



1 Market comments gleaned from various newspapers, trade journals, etc. 



