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Show Another Ten Years Of Depression "Since the depression is due to jj: ice disparity brought about by j cn nation it is to ue expected that ! ihe depression will last as long as I detlalion continues and for a num- ccr 01 years thereafter. If deflation defla-tion should discontinue now the increased efficiency in farming, increased in-creased efficiency in handling products, prod-ucts, and the infinite number of adjustments in other prices might be expected to end the agricultural depression in ten years or posiibiy j less. I believe, nowever, that , prices will continue to decline to the pre-war level and probably will Lolcw that level. When the de-cine de-cine stops, a number of years will be necessary to overcome the agricultural agri-cultural depression. The depression will probably last ten yeais alter rapid deflations ends This depends on how violently ag-rcit):uie ag-rcit):uie is being curtailed at the time when deflation enas and on His v.oather. If it, is somewhere near leady to end and a very severe tl.eufht should occur this would turn the tide. My guess is that wholesale prices will fall below pre-war, that is ynld w:il become nice v maoe lhan it was before the war. juit as oc-cured oc-cured after the Napoleonic wars and after the Civil War. When it became be-came valuable enough, it will be hunted for with vigor, and, in timf, petsibly enough will b found to raise prices." Dr. G. F. Warren, Head Dept. Agricultural Economics, Econom-ics, New York State College of Agriculture. |