12 



I. A. A. RECORD— July, 1933 



Net Farm Income For '32 

 Estimated $1,302,000,000 



Income Fell Short More Than 



Billion Dollars of Paying 



For Labor of Family 



A decline of nearly $6,800,000,000 in 

 gross farm income from 1929 to 1932 

 or about 57 per cent is estimated by 

 the Bureau of Agricultural Economics. 

 Gross farm income in 1932 was $5,- 

 143,000,000. The net farm income 

 after production expenses were de- 

 ducted was estimated at $1,302,000,000 

 for 1932. 



Farm income last year was the low 

 est in 23 years. The most drastic de 

 cline in expenditures by farmers was 

 for machinery, building materials, and 

 fertilizers. 



The Bureau points out that "in- 

 come available for farmers' capital, 

 labor, and management last year pro- 

 vided no return on investment, and 

 fell short by nearly $1,200,000,000 of 

 paying the farm family for their labor 

 even at the reduced wage rates for 

 hired labor." 



There was a sharp reduction in the 

 inventory value of farm capital. All 

 land and buildings which had a value 

 of about $48,000,000,000 in the spring 

 of 1929 were down in value to about 

 $37,000,000,000 in 1932. The value of 

 livestock on farms during this inter- 

 val declined from about $6,600,000,000 

 to about $3,500,000,000. 



Gross income from dairy products 

 declined less than that for any other 

 major commodity. Expenditures for 

 farm machinery, tractors, and repairs 

 in 1932 were only about 16 per cent of 

 1929, and for automobiles and trucks 

 only 15 per cent. 



The ranking of the principal lines 

 of production in gn'oss value. for 1932 

 was as follows: milk, poultry and 

 eggs, hogs, and cattle and calves. 

 Among the crops vegetables ranked 

 first, cotton and cottonseed second, 

 fruits and nuts third, and grains 

 fourth. 



Scott Got His Fence 



"The railroad recently repaired the 

 fence along my farm thanks to your 

 help," writes E. B. Scott of DeKalb 

 county in a letter to the I. A. A. 

 Transportation Department. 



Mr. Scott tried unsuccessfully for 

 several months to get the Chicago 

 Great Western to repair the fence but 

 without success. Then he appealed to 

 the I. A. A. which secured immediate 

 attention from officials of the com- 

 pany at Chicago. •, ,- 



McLEAN COUNTY SERVICE COMPANY'S NEW SERVICE STATION 



AND GREASING PALACE 



This modern filling Mtatlon located Just off the aqaare In BloonUngton was 

 opened May 27. The first two days It sold 8,50O gallons of gas, 125 gallona of oil, 

 greased 42 cars, and had 57 oil changes. Manager Geo, Curtlss, and C. W, Ward, 

 ■ales supervisor for Illinois Farm Supply, believe this to be one of the outstand> ' 

 Ing stations In Illinois. 



Plan Cut in Wheat Acreage 



(Continued from page 5) 



of the agricultural economics depart- 

 ment at Iowa State College. 



Dr. Black will assist with the formu- 

 lation of initial policies for applying 

 the Agricultural Adjustment Act to 

 corn and hog production and market- 

 ing problems. He will collaborate with 

 Guy C. Shepard of Evanston, Illinois, 

 chief of meat processing, who is in 

 charge of trade agreements in the field 

 of processing and distribution of pack- 

 ing house products. 



Black has made an extensive study 

 of corn and hog production in the 

 Corn Belt during the past few years. 

 He is a graduate of the University of 

 Illinois and was born near Peoria. 



General William I. Westervelt of 

 Chicago has been appointed Director 

 of Processing and Marketing, which 

 completes appointments for the two 

 main divisions of the Administration 

 set-up. Chester C. Davis occupies the 

 comparable position as Director of 

 Production. 



General Westervelt is a West Point 

 graduate and has seized in a military 

 capacity for more than 25 years, ris- 

 ing to the rank of Brigadier General. 

 Since 1927 he has served as research 

 director for Sears, Roebuck, and Com- 

 pany at Chicago. 



Here Is Procedure 



The method of procedure for con- 

 ducting hearings on proposed market- 

 ing agreements between producers, 

 processors and distributors was re- 

 cently outlined as follows: 



1. Reading of proposed marketing 

 . agreement without comment. 



2. Appearance of those who favor 



WiMe^^ 



News of the progress being made 

 toward the goal of the Emergency Ag- 

 ricultural Act and the restoration of 

 the purchasing power of basic farm 

 commodities to pre-war levels, was 

 scheduled to be broadcast over the 

 NBC chain on the National Farm and 

 Home Hour program daily and Sun- 

 days throughout the last half of June. 



These programs featuring men in 

 charge of the Adjustment Adminis- 

 tration will come on the air at 11:30 

 A. M. central standard time. Among 

 the leaders who are to appear in the 

 broadcasts are George N. Peek, 

 Charles J. Brand, M. L. Wilson, and 

 Cully Cobb. 



Technical advisers to the Adminis- 

 tration will also be heard. 



the establishment of such a mar- 

 keting agreement. 



3. Those who are opposed to the set- 

 ting up of such an agreement. 



4. Persons favoring detailed provi- 

 sions of the agreement. 



5. Persons opposed to specific pro- 

 visions, or urging additions or 

 changes. 



6. Supporters of the agreement con- 

 cluding with replies to those de- 

 siring changes or additions in the 

 proposed agreement. 



The Secretary of Agriculture will 

 tender the decision for or against the 

 proposed agreement within a reason- 

 able time. . , . 





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