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Show VALUES OF INLANDS IN-LANDS SHOWING BIG DECREASE Drops Total 18 Billions Since 1920, According to Recent Survey. By GERALD MILLER, Iiiternailonal News Service Staff Correspondent CHICAGO, July 31. Farmland values have dropped more than eighteen billion dollars since 1920. This mammoth depreciation of agricultural agri-cultural property involves every state in the union except throe. Toe greatest loss has been felt in tie middle west, where grain and livestock are the principal crops and where the greater bulk of the food supply of the United States is produced. This was the surprising result of a recent agricultural survey. Good plough lands in Iowa irbich average $257 an acre for tie entire state five years ago, today to-day are valued at an average of $160 an acre. Plough lands in Ohio decreased from $132 per acre to $96 during the same period. The equivalent figures for Illinois nre $213 in 1920 and $148 in 1924. Sontu Dakota shows a shrinkage of 59 per cent- Western irrigated lands, the survey sur-vey shows, make the best showing when taken as a whole. Several of tlese states have nearly held their own in land values. This is largely large-ly due to new irregation projects that have been going through the improvement and investment stage during the last five years. "A number of Southern States," the report reads, "also have made a good showing. Texas and Oklahoma Okla-homa are credited with average land values slightly higher . than tie 1920 estimates. New Jersey edges her way into this class also. The strictly cotton-producing southern south-ern states, like Georgia and South Carolina, have shown, however, declines de-clines in land values despite the high price of cotton." The eighteen-billion dollar shrinkage shrink-age is figured on the basis of the 1920 census valuation. The total value of farm lands and buildings for that year is given as $00,316,-M0.00O. $00,316,-M0.00O. The 1924 value as estimated estim-ated from the report of the department depart-ment of agriculture, figures at about 72.5 per cent of the 1920 valuation. valu-ation. This gives a total calculated calculat-ed shrinkage amounting to $18,237,-000,000 $18,237,-000,000 in round figures. The decline bring farm land values back practically to the 1916 level. The last nine years have shown practically no increase in farm land values in the better farming regions. The temporary rise in 1919-1920 benefited no farmer unless he sold and is no longer a farmer. |