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Show 'Farm Recovery Is Noted In the U.S. i ! Gradual improvement in farm conditions con-ditions is noted by Professors G. F. Warren and F. A. Pearson in the Feb- 1 ruary issue of "Farm Economics," a pamphlet from the department of agricultural ag-ricultural economics at Cornell. In an analysis of price conditions entitled "A Start Toward Recovery," the bulletin says: j ''Conditions became so serious in I February, 1933, that a complete I breakdown occurred in the credit ; structure of the nation, and suspen-: suspen-: sion of the gold standard followed. A rapid recovery began in April and continued until July. The recovery was then checked until last fall; since then a gradual improvement has taken place. "Suspension of the gold standard and other policies have reduced the force of the depression. Full recovery will not come until a sufficient volume of employment occurs so that vacant houses will be occupied, at rental rates that make it possible to build at a profit. This will probably require many years. "When a 'do-nothing' policy is followed fol-lowed in a severe depression such as the present one, recovery begins after af-ter the major portion of farms, homes and other properties that are insolvent insolv-ent pass into the hands of the creditors credit-ors and finally pass from the creditors credit-ors to new buyers at panic prices. It usually takes about seven years to complete such a process of real estate liquidation to a point where building can begin. This time the depression was so severe that the 'let alone' policy pol-icy broke down when wholesale foreclosures fore-closures became imminent." |