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Show LAND VALUES E D. Bromard, Agricultural Economist, Econo-mist, Utah Agricultural Collega hlany of the .-states a.-cumulated by farmers have been made largely thniiL'h the r no In the value of land rattier than through farming operations. opera-tions. Tabbn 1 and 2 show the changes In laud Millies in the I ruled Males and I tali. Farms always find without exception are subject to flurtuationn In xalue from year lo year and from d-cade to decade. There Is no uniformity uni-formity of varallon, but there aro general tendencies! wlilch over a period per-iod of years may be stud.ed and analyzed anal-yzed with profit. Table 1 Av,,nii Vuhi. of I.nt.il nil A. ro la ttie Fiat of Vtah and In lh fnilr.l y.ain a a Who In. lH'Ju to if. -S Onum lli-.ort) Yrar llah loilK-J Klal- ftah Lulled Stati-s f tah U. S. wo I 9 7 S $ 1 -ri fi 7 )c,, 25 -, j-40 IS 63 1 J 20U 3 4 1.74 47.3 1- !.o Z i 77.0 . Table 1. Value of I'lur l.nnji. fntte.l Pmten and ftah. ISIS to 1 2 If. S. 1. A. Yrarljook. 121) uimrtvi is:o u:: iu 10 mi isz ii mm in I'm j""c0 r.o 4: i:s 135 iu 12.', n 103 io so United Stat.- 11 61 !7 47 !2 111 100 J 7 iO t "0 Aa prices of farm products rise, land- alues tend to rise; as prices fall, Tand values tend to fall. These are genenil tendencies. The rise or fall In land values, duo to the variation varia-tion In tho prices of farm products, Usually lags behind the rise or fall In the prices of the products of tho land. Sometimes, however, land rises In price due to an anticipated rise In the price of farm products. At present aomo lands are held at prices which the productions of the same land will not p-.iy Interest on.. line reason is because of anticipated Increased economic productivity of the land or anticipated price Increases for agricultural products. Table 3. Index Numbers of Prices of Karm Products and of Land Values In tho United States Tear Ind"x of Prices of Fa m ProL I'ctg. Land Values Tctsr. IKU-lUO'o Chi. Yrly.lSOSI-13-100 ChR Yrly. 1S59 2 3 1909 97 1 93 S 1910 103 9 1311 9J 10 5 1911 1"! 9 103 6 1911 100 t 10 t 1914 10S I 111 2 19U 1Q5 ' 1 121 Mi 1916 121 1 136 11 1917 lft SS 161 Ml 1'JH JJO 1 167 1919 234 201 21 1920 218 7 184 9 1321 124 41 156 IS IT, S. Itureau of Labor Statistics But. No. 296 and U. S. D. A. Yearbook, 1921, respectively. I,and values are obtained on March 1 following tho year Kliown on the stub of the tabulation; figures may be rewarded as representing approximately values at the close of the year Indicated rather than average for the entire yeor. I-ands rose In value until 1120 when .values fell. The greatest Increase was in 1919 and the Rrentost decrense In Y.m. The values of land did not rise as high relatively as did the prices of farm products. In 11117, when prices rose ! per cent over 1910 prices, l:ind values rose 'but 13 per cent above the 11)10 value3. l,and values in 1919 were not as high relatively re-latively as were the prices of inrm products, yet both were higher than at any other time. One reason that more exchanges of land are not made is that owners are holding for values in exchange which maintained in 191S and 1919, which values are too high for a purchaser pur-chaser to make interest on at the present prices of farm products. Keal estate will change hands more readily when these values are adjusted on a new basis lower than at present or when prices rise sufficiently to make It possible for a purchaser to make interest on the Investment out of the productions of the land. |