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Show - A New Mexico Ranchnlan's Ranchnlans Ranchman's Ranchmans Ranchman'sReasons Ranchman'sReasons RanchmansReasons ' Reasons for Buying War Bondsby Bonds Bondsby by H B . . PmgreyAssociate Pmgrey Pingrey PingreyAssociate Associate ssocrate Agricultural Agrrcultural Economut Economist EconomutNew EconomistNew EconomistNew New Mexico MCXlco College of Agriculture and Mechanic Mechamc Arta Arts Arte , "T T " 1 1AM T AM Investing invesUng hivesUng In War Bondsrather Bondslather Bonds * rather lather than enlarging enlargmg my myI myranch myranch myranch I ranch presenttime J'resenttIme holdings at the J'resent Jresent present ' tIme ' remarked remarkcd a New Mexlco Mexico Mexlcorancbman Mexicoranchman Mexicoranchman rancbman ranchman ' It Is ts not a question quesUon quesUonwith questionwith with me of whether to Invest but buthow buthow buthow how much to invest . . Each indl Inds indlvidual Indsvidual individual vidual must determine determme for hllI1selt himself hllI1seltthe himselfthe himselfthe the amount to tq invest Invest , , , hut but as for forme forme forme me all aU my ranch tanch earmnga earmngs earnings , other otherthan otherthan otherthan than sufficient SuffiCIJmt sufflcsfmt , funds to operate operatethe the ranch rllnch next year , , wll WIU will be putInto putinto put Into War Bonds ' , Further questioning quesUonh\g quesUonh g quesUonhgas \ as to rea Tea reasons Teasons reasons I IFurther sons why this th1s raacher rancher decided In Infavor infavor infavor favor broughtforth of Bond Bogd , investment brought broughtforth broughtforth forth these remarks remarksMy remarksMy My ranch income jDcome has increasedmaterially increased increasedmate1'lally Increasedmaterially mate1'lally mate1lally materially ' during the past J'ast Jast ' several severalyears severalyears severalyears years with the increased , demand demandfor demandfor demandfor for wool lambs and calves for foruse foruse foruse use as clothing clothmg and mea meat 1 . . . In spIte spIteof spiteof spiteof of Increased costs for labor , , feedand feed , and some supplies supplles , I have had a alarger alarger alarger larger net income mcome with ' which 'WhIch to topayoff topay topay payoff payoffaU pay offall off all aU debts and 'eave eave leave ' ' more morefor morefor morefor for investment mvestment Ranch lands have haveIncreased haveincreased haveincreased Increased in price pnce about one th1rd third th1rdbecause thirdbecause thirdbecause because of speculation speculatIo'1 speculatIo1 ' I prefernot prefer prefernot prefernot , not to contribute to inflation In Inranch inranch inranch ranch lands at the present time timeby timeby timeby by buying buymg additional range To Toenlarge Toenlarge Toenlarge enlarge my ranch at my age agewould , "auld auld would , " necessitate more supervI supervISIan supervision supervision SIan sion and a"1d a1d aid " activity for me My sonshave sons sonshave sonshave have their education to complete completeand completeand completeand and perhaps active duty in the thearmed thearmed thearmed armed forces and when they have havecompleted havecompleted havecompleted completed these duties as a'l al ' Amerl Amen Amerlcan Amencan Amencan can citizens I shall be beIn -In In to - . a posi- posi position posi position . - tion tlon by investing mvestfug m in Bonds now now'to nowto , ' ' to provide them if they so desIre desIrethe desirethe desirethe the opportunity opportumty to engage In IlVe live IlVestock livestock livestock stock ranchmgRanch ranchingRanch ranching ranchmg ranchingRanch Ranch improvements other otherthan otherthan otherthan than those tor for maximum maxunum hvestock livestock hvestockproductIon livestockproduction livestockproduction productIon are out of the picture picturefor picturefor picturefor for me because becduse of shortage of ofmatenals ofmaterials ofmaterials matenals materials and labor Three dol doI dolIars dollars doItars Iars tars invested in War Bonds now nowin nowin nowin in my opinion oplhlon will after arter the war warbwld warbuild warbuild bwld build four dollars ' ' worth of ranchimprovements ranch ranchImprovements ranchimprovements Improvements I know of n nq nqother no , other othermeans othermeans othermeans means whereby wherebJr I can increase mcrease the thevalue thevalue thevalue value of a dollar by 33Y 33 % percent percentWIth percentwith percentwith WIth any greater security , than , - - - , by investing investmg in Bonds today Fur Furthermore Furthermore Furthermore thermore as the need lor for govern government government government ment after.the afterthe aftegthe expenditure decreases af afteg . the war I shall with my War WarBond WarBond WarBond Bond savings savmgs be in m a financial positlon positlon po posmon smon sitlon . to create a demand . , for ma materlals materials matenals terlals terials and labor laborI I know that at the present presenttime time the demand for tor labor , ma- ma materials ma materials . - terials terlais Jlnd pnd ind civilian clvll1a , , goods is great great- greater greater . - er than the supply Prices Ppces are higher arehigher than they were some some five or ors orsly orsix generalhave s sly , years ago People in general have more money , because bece.use beceuse . of offuller offuller offuller fuller employmentrand employment rand / " and govern government governwent government ment went spending spendmg of moneysecuredby money secured by securedbyborrowing byborrowing moneysecuredbyborrowing borrowing bankertells on credit My bariKertells ban1ter banker ban1tertells tells me that the inability mabIllty to pro duce produce goods m proportion to the de demand demand demand mand plentifulleads when money is plentiful leads to in inflation ation , , just the game same asgovernment asgovernment as 'government government ' government borrowing from com coin commerclal coinmercial cornmercial merclal mercial banks adds to t9 tq the governmenta govern government governmeat ment meat I s spending spendmg power and , in increases increases increases creases the threat of inflation To Tooffset Tooffset Tooffset offset this tendency , fan in\ in ins inestment \ estment of ofcurrent ofcurrent ofcurrent current Income by individuals mdiVIduals and andbus andbusiness bus business andbusiness mess in m War Bonds tends toreduce to | reduce excessive spending power it ' powerir powerit the market and frees the gov goy government goyernment . ernment from tram borrowing borrowmg from frombanks frombanks frombanks banks . ' ' I remember a neighbor frIend frIendof friendof friendof of mine mme during durilig dU1'l dU1l ' g the last war wbo who wboexpanded whoexpanded whoexpanded expanded his business busmess as * ' pricesrose prIces prIcesrose pricesrose rose and tunes t1IIles times , were good the de depression depressicn depression pression pressicn of the early 20 20s s ran von rantracted vontracted contracted tracted his business to nothing nothmg as ashe ashe ashe he was foreclosed on I don dontwant t twant twant want this to happen to me and I IaIl'l Iam Iam aIl'l aIll am ' willing WI11mg to cooperate by lendIng lend lending lendJag surplusfunds funds ing Jag my government my surplus | ' I came to this country from fromEurope fromEurope fromEurope Europe as a boy of 16 My feet feethave feethave feethave have trod many a weary mIle mIleherdmg mileherding mileherding herdmg herding sheep over Montana and andNew andNew andNew New Mexico ranges I served ' ' ' in inthe inthe inthe the New Now N w Mexico National Guard in in1914 1914 on the Mexican border Amer America . . ica had faith in me by giving glvmg me mean mean mean an opportunity to earn a livelihood.and livelihoodand hvehhood livebhood hvehhoodand livebhoodand . and become an American citizenI citlZenI citlZen citizen I have sufficient faith in my coun- coun country coun country . - try to lend it my surplus earnings earningsin in this its hour of greatest need * ' _ 17 U g S TftUMyDitarlmeiit Trnoury Treasury . D Dcpsrtmcnt , arlm , " , . | " . |