THE 



ILLINOIS AGRICULTURAL ASSOCIATION RECORD 



To advance the purpose for which the larm 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 deielop 

 agriculture. 



THE STATE FARM 



BUREAU PUBLICATION 



WILL YOU LAND ON A CUSHION? 



vJu f-^resUient C^harleA (fj. ^Iiti 



man 



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 high 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. 



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 

 heights 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 conser\'ative plans 

 for the future. The degree of the impact of a price c)cle 

 collapse upon agriculture as a whole depends in part at 

 least upon how well individual farmers have planned their 

 rinancial 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 carr}* over 

 their storable crops from year to year, waiting for price 

 increases which never came. 



Deferring spending is difficult, especially uith 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 I'. 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 companv. 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 



ILLINOIS AGRICULTURAL ASSOCIATION OFFICERS and BOARD OF DIRECTORS (By Congressional Distrkts) 



chil- 





Pr»8id«nt, Charles B. Shuman -SuIIiTon 



Vice-President, Floyd E. MorriB Buffalo 



Secretary, Paul E. Mathiat Jliasdale 



Field Sec, Geo. E. Metxger Chicayo 



Treasurer, R. A. Cowles Bloomington 



Comptroller, C. C. CbapelU Chica90 



General Counsel, Donald Kirkpatrick . . Chicago 



Ist to 11th Earl M. Hughes, Woodstock 



12th. _ C. J. Elliott, Streator 



13th _ Homer Curtiss. Stockton 



Ulh _ Otto Steffey. Stronghurst 



ISth „ Edwin Gumm, Galesburg 



16th. Russell V. McKee. Varna 



I7th..._ E. T. Culnan. Lincoln 



18th John T. Evans. Hocpeston 



19th Milton W. Warren. Mansfield 



20th ' K. T. Smith. Greenheld 



21st Dan L. Clarke. New Berlin 



22nd „ y. King Eaton. EdwardsWlle 



23rd Chester McCord. Nevirton 



24th Lymon Bunting, EUery 



25th _ .AU>ert Webb, Ewing 



Editor, Creston Foster. Ass*t. Editor, James C. Thomson. Field Editor, Lewis A. Reisner. 



The Illinois Agricultural Associotion RECORD is puLblished monthly except August by the Illinois Agricultural Association at 1501 W. Washington Road, 

 Mendota, 111. Editorial Offices, 43 East Ohio St., Chicago, 111. Entered as second class matter at post office. Mendota, 111.. Sept. 11, 1936. Accept- 

 ance for mailing at special rate of postage provided in Section 412, Act of Feb. 28, 1925. authorized Oct. 27, 1935. Address all communications for 

 publication to Editorial Offices, Illinois Agriculturol Association RECORD. 43 East Ohio St., Chicago. The individual membership fee of the 11- 

 Unoia Agricultural Association is five dollars a yoor. The fee includes payment of fifty cents for subscription to the Illinois Agricultural Association 

 RECORD. Postmaster: Send notices on Form 35/8. Undeliverable copies returned under Form 3579 to editorial offices. 43 E. Ohio St., Chicago 11. HI- 



DECEMBER. 1947 



