OCR Text |
Show Farm Indebtedness Is Cut 25 Per Cent In Past Five Years Farmers are using their larger Incomes In-comes wisely In reducing their Indebtedness. In-debtedness. Many have paid off all their mortgages and others have reduced re-duced their obligations far more rapidly than their schedule of payments pay-ments required. The total mortgage indebtedness on farms has declined at least 25 per cent during the last five years. Farmers are much better bet-ter prepared financially to meet the readjustments that may be necessary. neces-sary. In another way farmers are act-lug act-lug wisely In order to avoid heavy losses later. They are trying to keep prices of farms from sky-rocketing as land did ia 1919 and 1920, only to be followed by a collapse which was a heavy burden for many years. The danger Is not yet past, for farms are being sold In many cases over 00 per cent higher than in prewar pre-war times. The situation Is becoming becom-ing a little better now and the prospects ure more promising. Merchants and business men in rural communities and smaller towns are preparing to meet changed conditions con-ditions for their prosiierity Is so closely tied up with that of the farmers. Conditions for them are very good, as Indicated by the rise of bank deposits In agricultural regions, re-gions, by higher retail sales and Increased consumer demand for both goods and services. Merchants are trying hard to get the goods for which the demand Is so large. The good Judgment and wise man-agement man-agement which has already successfully success-fully accomplished so much will help not only the farmers, but also the entire country during the postwar period. We are ready to face whatever what-ever comes. Much has been done and even more Is going to be accomplished ac-complished to make the future as prosperous as possible. There has been some unemployment due to closing down of plauts engaged In the manufacture of war material. |