Show WHAT GOES UPLand UP- UP Lard Land Prices Soar oar Released b by Is speculative ownership of land becoming the uNo No 1 Enemy of future farm prosperity prosperity pros pros- Are land prices due to tumble as they did afterWorld after World War I IVill Will Vill the cost of land go so high that the farmer farm farm- er cannot make a profit These are questions that are being asked from California to Maine Land prices have already soared 71 per cent above the 39 1935 aver aver- ages They are approaching the boom levels that followed World War L Many bankers arc frankly worried lest the crash and de deflation of the early be repented repeated Government figures show farm land prices during World War II more than doubled In Indiana North and South Carolina Carolina Caro- Caro lina Kentucky Tennessee Colorado Cola Colo- rado and Wyoming Increases of more than 90 00 per percent percent cent have been recorded in OhIo Michigan Georgia MissIssippi Arkansas and Montana For the country as a whole farm real estate values have jumped 13 percent per percent cent in the past year From the beginning of World War WarI I to the Inflation peak in 1920 land prices jumped 70 per cent Prices at the start ot of World War n II were lower than in 1914 but the increase increase in- in crease thIs time is already 71 per percent percent cent although the actual prices are not yet at the 1920 peak Higher Land Less Profit Farm sales are continuing at the high level they attained during 1945 The number ot of farms resold after a limited period of ownershIp has increased indicating speculation Farmers who have a yen yento to acquire additional acreage says a statement by the Middle West Soil SoU Improvement committee commit commit- tee should bear In mind that the higher the cost of land goes the harder It is to show a profit even at present prices receIved for i 17 r crops With sons home from the war and with more and better farm maJ ma ma- J WORLD WAR VAR I WORLD WAR VAR IT II 1917 1117 1118 1120 1 43 1943 1945 1947 1917 to 90 90 2 Ei 80 80 I. I I r ro 10 70 i iso r bO bO 17 so 50 50 I 30 40 0 O v 30 40 w II ro I 10 10 7 u u nATURU CA RE LAND PRICES Went up during and after World War and I-and then came tumbling down d wn Prices have not gone ns as high In World War II as before beCore but the they are soaring These charts show same trend as In 1914 to 1920 chinery in prospect many farmers figure It would be a profitable move to work much moreland more moreland land than heretofore the statement statement state state- ment points out u If they will remember remember re- re member the bitter aftermath of World War Is I's land boom when food prices were even higher than they are today they will see the hazards of such a move Sooner or later the present world food emergency will be solved and the mammoth demand for American Ameri- Ameri can food products will end Then AmerIcan farmers will have to compete compete com com- pete in world markets The only way they can do this successfully is to produce crops at a lower cost per unit In such a program the steady use of fertilizer containing nitrogen phosphorus and potash will be a major ma jor factor More bushels per acre e can and will mean mem more food fro iron from m less land Increase Yields Not Acres The wise farmer will be the on one who does not buy more land but bu s who increases the yielding crop capacity capacity ca ca- of his present acreage b by soil improvement measures He will study the most practical uses o at f plant food He will consult agronomists agron o mists at state college and agric agricultural tural stations for the most effective e methods ot of fertilizer applIcation the analyses best suited to hIs particular particular par par- soil and crop conditions and an anthe the quantities to use This advice to farmers to f Improve Im- Im s1- s1 prove their present holdings rather r than to acquire greater acreage was corroborated by the committee commit commit- t tee on farm land prices of the Amerlean American Amer Amer- lean ican Bankers association which h urged member banks to admonish admonis h would would-be farm buyers go slow to discourage borrowing to spec speculate a late In farm tarm lands and to tell veterans veterans vet vet- erans of the hazards Inherent in excessive land prices Country bankers a committee spokesman said are fully cognizant cognizant cog cog- of the dangers inherent in the present farm land price situation They are urging farm owners owner now to reduce theIr debt and to plan savings sav- sav savings ings for farm improvement during these years of at high income because when conditions return to normal and American agrIculture is in competition competition com com- petition with other countries for world markets it is probable that farm earnings will not support I prices at current levels I I |