THE 



ILLINOIS AGRICULTURAL ASSOCIATION RECORD 



To advance the purpose for which the Farm Bureau was organized, namely, 

 to promote, protect and represent the business, economic, social and educa- 

 tional interests of the farmers of Illinois and the Sation, and lo det-elop 

 agriculture. 



THI STATE rAKM 



•UREAU PUBUCATION 



WILL YOU LAND ON A CUSHION? 



Il5i^ J-^reAldent C-ltarieA VD. Oi4 



untan 



'V 



PLAYING in the barn was a forbidden pleasure to us 

 children on the farm. I never fully understood the 

 reason for this rule, until the day our city cousins came 

 for a visit. Jumping from a hi^ step on the hay mow 

 ladder into a pile of loose hay on the driveway floor was 

 an exciting and self-satisfying demon- 

 stration of one of the advantages of 

 farm life. r,-. . .•v,>;,;.-,.. \-.;'.;; ■■■■-;■_ 



Our visitors were properly im- 

 pressed and the show continued until, 

 as a result of a slip of the foot, I 

 landed on the edge of the manger in- 

 stead of the cushion of hay. Having 

 the ego and wind knocked out of me 

 at one and the same time was a pain- 

 ful lesson. 



. Riding the price cycle to new 

 heists has been a new sensation and perhaps a pleasure 

 to many farmers. Those who had similar experiences a 

 few years ago already are looking about for a soft pile of 

 hay on which to land. We recently have examined a few 

 of the "parachutes" which farmers as an organized group 

 might obtain and use to slow down the descent from these 

 price peaks. 



Legislative and group action are very important, but 

 it is also necessary that each farmer make conservative plans 

 for the future. The degree of the impact of a price cycle 

 collapse upon agriculture as a whole depends in part at 

 least upon how well individual farmers have planned their 

 financial cushions. 



The disaster of 1932 found very few farmers landing 

 on a pile of hay — many cracked up on the edge of the 

 manger with nothing but a foreclosure notice to show for 

 their experience. 



What are some of the ways in which we can build a 

 better cushion for the future.' Economists are generally 

 agreed that farmers might well follow two general rules: 

 first, avoid excessive inventories and second, defer spending. 

 Some of our troubles in the period from 1920 to 1932 

 were due to the inclination of many farmers to carry over 

 their storable crops from year to year, waiting for price 

 increases which never came. 



Deferring spending is difficult, especially with high 

 prices and our many unsatisfied wants. Several types of 

 systematic plans are being used by farmers to set aside a 

 definite portion of their present high annual income for 

 future use. Savings accounts, life insurance, annuities, re- 

 tirement of debts, corporation bonds and U. S. government 

 savings bonds are among the more common methods. 



As the year draws to a close, it is encouraging to notice 

 two reports which demonstrate that Illinois farmers ap- 

 preciate the importance of an adequate financial cushion. 

 Records of Country Life Insurance Company indicate that 

 more farmers than ever before are planning for future 

 estates or retirement through the purchase of life insurance 

 in their own company. U. S. Treasury reports disclose that 

 farmers are buying a higher proportion of the total savings 

 bond sales than ever before. Let us hope that these trends 

 continue. 



How good is your cushion of hay at the foot of the 

 ladder.' 





DECEMBER, 1947 



VOLUME 25, NUMBER 11 



lUINOIS AGRICULTURAL ASSOCIATION OFFICERS and BOARD OF DIRECTORS (By Congressional Districts) 



Praaidaat. Cborlas B. Shumon. -SiUliToa 



Vlc*-P»sid*Dl, Tloyi E. Morris ...Jluiiale 



SacraloiT. Paul E. Motliias Hinsdnia 



Fiald Sac., Q»o. E. Matagac Chicago 



Traosurar. R. A. Cowlaa Jloomingtoa 



ComptroUar, C. C. Cbapalla Chicago 



Oanaral Ceunaal, Donald CrIcpatriek Chicago 



111 to lllh Earl M. Hugh**, Woodatocic 



12Ul. _ C. I. Elliott. Straator 



IStll Homar Ciutisa. Stockton 



I4lh Otto Stafiay, Stronghurst 



ISth. — £dwin Cumm. Golasburg 



16th.- 

 17lh-. 

 lUh... 



BussaU v. McKaa, Varna 



£. T. Culnan. Lincoln 



John T. Evans. Hoopaston 



19th 

 20th.. 

 2Ut 

 22nd.. 



..Milton W. Worron. MsBaBaM 



K. T. Smith. Oraanfiald 



Dan L. Clarlca. Naw Barlin 



..J. King Eaton. EdvrcD-dsTilla 



23rd Chastar McCord. Nawton 



24th -Lrnsan Bunting, EUary 



25th JUhart Wabb, Ewisg 



Editor, Croston Fester. Ass't. Editor, James C. Thomson. Field Editor, Lewis A. Reisner. 



The nUnois Agriculliiral Assodotioa BECORD is publiahad monthlT axcapt August by tha Illinois Agricultural Association at ISOI W. Washington Bead. 

 Mandeta. 111. Editorial Office*. 43 East Ohio St.. Chicago, HI. Entered a» sacond class maHar at post oifica. Mandota. U., Sept. 11. 1S3S. Accept- 

 ance ior mailing at special rata of poataga providad in Section 412. Act oi Fab. 28, 192S, authorizad Oct. 27, 1935. Addraas all communications for 

 PabUcatien to Editeriiil Offices, Illinois Agricultural Association BECORD, 43 East Ohio St., Chicago. Tha individual mambarship iaa oi tha D- 

 liaois Agricultural Associatiett is Bto dollars a Tear. Tha iaa includes pormant oi fiity cants lor subscription to the Illinois Agricujturol Associatioo 

 RECORD. Postmaster: Send notices on Form 3a7t. Uadelirarabla copies tatumad under Form 3579 to editorial offices. 43 E. Ohio St.. Chicago 11, IH. 



DECEMBER, 1947 



