The Eldorado Success (Eldorado, Tex.), Vol. 26, No. 30, Ed. 1 Friday, July 23, 1926 Page: 4 of 6
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New Highways Make Nation’s Steflic Grandeur
Easily Accessible to Motor Vacationists
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AMERICAN AGRICULTURE
Many Mythical Causes Given But the Chief Financial
Problem Rises From Inflation of Capital Account
Based on War Prices—Remedy Pointed Out—
“Trick Legislation” Will Not Help.
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Warn tae motorist marts his vie
t'.oii awheel this spring unU suaiir
he will have the finest network ■
national roads the country has et
had over wh ch he may visit any pi
lion of the United States
Five years ago ero s'ng the Unit
Stales by motor was some’hlng of
adventure Ten years ago it nui.
I.ardshii s. Mow there ar* five gre.
»’i ,1 ke-.t' • nation «i transcoattnen _
n gh s connecting the Allan:
Lore witti the “Pac.f c. In aw,,
jdac t tiier.” are pareliel rrgloa
r. it :i*e e gh: tn all. In tna
■ gi,'ns there are through North .m
.outl* highways
t n the Fuefflc Coast shown on the
ag!e column n**ep to the left there
= one highway from Canada to Mex-
‘Co ant) for abofit half fhe distance
.'.ere an.-, two highways- • They, au*
.vej excepting a few inilea. Jhe
Sa's lead to. through,.anil by a woc-
i tul series of national :parks and
aor. aments, mountain i^kes and
:reams, lieaches. redwood groves and
eean beach.:
if any of our readers wish to make
motor Journey to the Pacific Coast
that touches Southern California i
can get complete detail route map
and all necessary information, with
out charge of any kind, oy writing l
the Automobile Oiub of Southern Cal‘
fornin, Twenty-sixth and Figuere
■sirfee a. Los Angeles, ile should g.v
his place of start, me import*;
places he wishes to visit on ms wa
out and on his way home The .civ.
will then route h.m and setm i;s map
Cn arrival in Southern California t.
Club will make the vigitor a gn
member without charge for
months.
By MELVIN A. TRAYLOR
First Vie* President American Banker* Association.
TN recent years agriculture and the welfara nf the farmer have
1 been our most fruitful topics of conversation. Political for-
tunes have revolved around the unhappy situation of the farmer
and the business barometer has gone up and
down with varying proposals for his relief. Only
a few years ago there was widespread feeling
voiced by the leading agriculturists that the time
was fast approaching when America • would
1 not be able to feed its rapidly increasing popula-
tion unless there was improvement in soil culture,
fertilization, reforestation and larger production.
What is the situation now? The worry seems no
longer to be for food for the hungry millions but
for more millions to consume our tons of food.
Evangelists of despair have talked so much
about over-production and surplus of agricultural
products since 1920 that we are warranted in calling attention
to a fact or two which may be enlightening to those who have
felt that there has been a crushing surplus of the staples of the
farm. From 1911 to 1915 average^----—------
M. A. Traylor
P. diosed Amendment
to the Constitution.
Senate Joint Resolution No, 9
A Joint Resolution ielating to
the amendiiiK of Article 10, Sec
tion 58, of the Constitution of the
State of Texas, abolishing the
board of Prisiou Commissioners;
providing for the supervision and
management of the Prison S>»-
tem, Under suclt laws as mav b«
provided for by the Legislature.
He it Resolved by the Legisla-
ture of the State of Texas;
•Section 1. That Article 10,
Seciton 58, the Constitution of
the State of Texas, lie amemiei
so as to hearaf ter read as follows :
Section 58. The Legislature
shall have full power and author-
ity to provide by law for tin
management and control of the
Prison System ot Texas: and to
this end shall have power am
athority to place the Prison Sys-
tem unJer ttie supervision, mar.
agement and control of such
trained and experienced officer,
or officers, as the l.egislatuie
may from time to lime profit w
for by law.
Section 2. The above Coiisli
tutioal amendment shall be soli
milted to u vote of Lite qualffi d
electors of this State at a gener
a', election to he held November
3, 1926, at which election all vot
era favoring said proposed
a nenomeut shall wiitror In.v*
printed on their ballot the word-
For the amend merit of Article
i<>. Section 58, of the Cunstitu
tion abolishing the Hoard of Pri-
son Commissioners.” And ail
those opposing said amendmet t
shall write or have printed on
their ballot the words “Against
the amendment of Article 10,
Section 58. of the Constitution,
abolishing the Hoard of Prison
C itmnissionei s.’’
Section 3 The Governor ol
t ils State is hereby direc ed t<
is-ue the necessary proclaim
tion for said election and hav*
toe same published as required
by law
Section 4 The sum of 85,000.
or s i much thereof as may lie
necessary, is hereby appropriat
ed out oi the funds in the Tr. a-
i«jry of the State a' tl notnthet
wi-e appropriated, to pay expen
ses of such publication and elec
tion.
Approved, April 4, 1925.
Emma Grigsby Meharg,
Secretary of Stale.
(A Cori ect Copt.)
I
See me before buying your
ready to wear silk and rayon
dresses. 1 expect have to them
here for display Saturday
Sharpe's Mercantile.
L«
City Barber Shop
HOT AND COLD BATHS
Prompt Work and Courteous Treatment
All Patronage Appreciated.
C‘ W* Galbreath, Proprietor.
«*»*****•.«* <*****»*•*-
*> **■*»-> ■ e r we
San Tone Blend
One of the most Satisfar to v High Grade Coffees on the
market, its delicious flavor w <\s bril'g fl e user hack for
another order This High Gi. i'- (’off* e can be tiought from
1 . W. Brooks.
STAR
Running foil
ning-in-oil .STAF ibe
v • wanted in a y.’jtvjrnill
’ ice'of Timken Tapered
■VETM” Bearings—Kvo
’•Ormans’— direct center
4. tfuides^antl pitmans
, scientifically designed,
is and braces and bell-
-e curved to give great
.n hour wind. Plunger
t;vi'.shead, guides and
•J tij.t lover keeps out.
You Will find in the new
many features you have ah;
—one oiling a year—your c-
Roller Bearings or “NO-C
gears, two pinions and tu.
lift to pump rod’—crossht
bearings flooded with oil
wheel with angle steel an:
bearing turn table.
The fans of this new Star
efficiency in an 8 to 10 rmi.
pump in crank case flood
pitman bearings with oil, u.
dirt, rain or snow.
One filling of crank case wl h o;! t vcr.V will’save
many trips up the tower. May tc inted on any
tower.
Tha new STAR is I he /,vi word in
Windmill construt;\ -n. Come in
and let us show yon 'Ju mill. You
will want to know . • mtt it u he. her
yom are needing i.< mill right
row, and w? wa. i -.on 1fo Tfr/idw
what a really fine n utdinill we /isrve
in thifnew Star. , . :r
West Texas
Lumber Cc.
Proposed Amendment
to the Constitution.
j Svnatt- Joint Resolution No. 10
Pioposing an amendment to
: th*i Constitution providing for
! taxation of school lands owned
! by counties.
He it Resolved b? the Legislature
ol the State of Texas;
Section 1 That Article 7 of
• he Cnntitution of the State of
iVxas shall be amended by add-
ing after Section fl thereof 6a,
which shall be read as follows;
Section 6a All agriculture or
v'fhzing school land mentioned
i > Section 6 of this Article own
e 1 h v any county shall be SUD
j cl to 'axatum except for Stat-
pni p >sed to the same exttnt as
i.rnds privately owned
i Se tian 2 The foregoing Con
siitutional amendmei t shall lie
•ubmitted to a vote of the qua'i
ri..d electors of this State at an
election to be held on the first
Tuesday after the first Monday
November A. i) , 1926. at
vv,iicti ail ballot shall have print-
ed thereon: “For the ^onstitu-
I
tional ruiendment providing for
taxht on tf all agriculture or
grazing school land owed by any
county to the same extent a-
land privately owned.”
Section 3. The Governor shall
issue the necessary proclamation
for said election and have tl <
same published as inquired * •
the Constitution and laws of thi?
State Ti e expense of public*
tion and election for suclt amet d
meet shall be paid out of prof e>
appropriation made by law
Approved, April 4 1925.
Emma Grigsby Meharg,
Secretary of Stat»
I A Correct Copy.)
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1
1
Mrs Joe Bu. lersen was shop
p. gin thecitv Saturday from
th. stockfarm just west uf town.
; You can Hnd tire best and
most satisfartory row binder
, v • r b -ought to Schleicher Coun
i at Eldorado Hardware Co
l w.*
El I) vis was in from Kaffir’
S<tu day sl aking hands and at
t mling to business.
i
■; NOTICE,
To Schleicher County Citizens
and others. We are Dry Clean-
ers at your service, Clean and
Cress every day. Have us call
for and deliver your clothes, our
aim is to give you service.
Suits made to order, tita guar-
anteed. Alterations a specialty.
Hats Cleaned and re blocktd.
Williams Tailoring Co.
production of cotton was 14,175,000
(tales at an average price of 12.41
cent* per pound, while from 1921 to
1926 production averaged 11.362,000
hales at an average price of 21 S6
cents per pound. In the 19111915
period wheat production averaged
906.356.000 bushels at an average price
of 89 cents, while in 1921-1925 the
average production was 604,384,000
buahels at a $1.11V9 average; in the
former period corn averaged 2,754,000,-
000 bushels at 60.3 cents while in the
latter the average was 2,873.000,000 at
69.6 cents. Cattle on farms for 1911-
1915 were 37,178,000 at an average
estimated price of $26.52 while in the
latter period the annual average was
41.616.000 at $26.08. Hogs on farms
In the first period were 63,151,000 at
an average price of $9.58 per head,
and in the latter 60,418,000 at $11.34.
The Surplus Production Myth
From these figures, which eliminate
the period that embraced the war and
the early post-war inflation, it will be
observed that, with the exception of
cott*Q and cattle, production has been
alnssat uniform in the two periods. In
no case has production anywhere ap-
proached an Increase commensurate
with the increase in population. So-
called surplus production is largely a
myth and the cause of the farmer’s
complaXst must be looked tor In some
other dfeectlon. It must be admitted
that all has not been and is not well
with this Industry. After all, what is
the matter with agriculture? There
are a tew tacts which seem obvious
a* a part at least of the underlying
causes of the situation and which sug-
gest something ot the remedy that
sooner *r later must be applied.
Present difllculties had their incep-
tion largely in inflation of prices tor
agrlcultara! products from 1915 to
1920 with consequent large expansion
of profits. This led Inevitably with
the farmer as with the manufacturer
to expansion ot plant and equipment
—the acquirement by the individual
ot larger acreage and modern, if not
always efficient, machinery. These
statements do not apply to every one
because there are always some who
play safely and conservatively, proved
by the tact that there are millions
ot farmers who have gone through
the recent crisis without any difficulty
and nr* today prosperous and con-
tented. In fact th* complaints today
are coming from less' than 25 per
cent ot the farmers of the country
and from the hordes of politicians
who are seeking to make capital out
ot the situation.
Results of Inflation and Expansion
With the average and with the ma-
jority of those who were swept off
their feet by the wave of prosperity
through which they were passing, let
us analyse the results of this Inflation
and expansion. The farmer operat-
ing on land that he was carrying in
his capital account at a value of, say,
$100 per acre, and who perhaps had a
loan of $50 an acre, suddenly found
that, because of the increased proflf?
from his operations, his land had a
market value of $200 per acre and
that, if he had a new tractor and some
new farm machinery, he could greatly
Increase his production. But If he did
that he would need a larger barn
and more warehouse facilities. The
chances are that with an appraisal ot
$200 per acre on his land be increased
his loan to $100 per acre, thereby
doubling his capital account and his
bonded debt—not out ot earnings but
because of his ability to effect a
"clean write-up” of 100 per cent of his
plant account.
If he did not effect the doubling of
his capital account in this manner,
and it his $100 acre farm was clear,
he probably bought his neighbors
farm for $200 per acre and mortgaged
both the new and the old for $100 per
acre. In this latter case, he Increased
bis capital account 160 per cent
It Is easy to see what this did to
his net percentage of income. If he
bad been able to make 6 per cent on
bis original Investment, without any
allowance for the increased cost ot
operations which of course did take
place, he cut his net Income, based
upon hi* capitalisation, about one-half
when be had completed his expansion
program. But worse than that hap-
1 .ed His calculations had been
aiade upon a prtc* for hit product
Vtlch reflected wartime demand and
feaylug power of government money
«bta* were suddenfe curtailed. Wl$h
demand gone and buying power with-
drawn he found his gross selling price
cut in two. His gross at the high fig-
ure had enabled him to make I per
cent net on his new capitalisation
This new was cut one-half by tha re-
duction of his gross selling price and
Instead of making a 6 per cent return,
as he was able to do -perhaps on hie
original $100 acre farm, he has since
been lucky it he has made 1)6 pat
cent on his new capital account.
The Remedy
I am confident that something of
this kind underlies 75 per cent of tfe*
present difficulty. How can It be
remedied? I believe that time aad In-
telligent hard work Is the surest
restorative of better conditions. Na
magic of trick legislation can accom-
plish the result There are a faw
facts which must be faced and ac-
cepted before a start to better things
can be made. The first and most Im-
portant Is recognition that farming
never was, Is not now, and 1 do not
believe ever will be a so-called
money-making proposition. By this 1
mean a business in which a man may
engage with the certainty of being
able over a period of yaars from tha
production and sale of farm com-
modities to accumulate great wealth.
There are those who will aay that
unless farming can be made a suc-
cessful money-making preposition
there is no hope for the future of the
country. My argument with such peo-
ple will turn on the correct definition
of what is a satisfactory money-mak-
ing business. I believe that if farm-
ing Is Intelligently and industriously
followed It Is a satisfactory bustaaaa
but I do not belleva that It la suffi-
ciently a money-making proposition
to attract those who ara ambitious to
play for big fortunes.
There are those also who say that
many men have grown rich In tha
past in agriculture. I do not think
they have from the mere production
and sale ot farm commodities. Tha
men who have grown rich !h tha past
from agriculture have owed theit
success most largely to the ownership
of what would now be considered
very cheap lands, which over a pe-
riod of years have sbuwn quadruple
and more appreciation In. raises.
The Advantages of l-erm Life
But if agriculture dost not mean
great wealth, and it certainly does not
involve a life of Idleness, ease, or
luxury, it does mean much more. It
means If intelligently and industrious-
ly followed a character.of Independ-
ence vouchsafed to no other trade or
profession. How do I know this? I
know It by experience and. 1 know it
by observation. The farmers of to-
day have more good, wholesome feed
than any man working on a salary ot
$2,500 per year can buy tor his family
and be able to pay his grocery bill
without paying any other of his debu.
The farmers who are complaining ot
their Inability to make money enoagh
to pay for their necessities of lit* are
enjoying at home as a natural heri-
tage of their business comforts ««-j
luxuries which the man In th* indus-
trial centers working for a salary la
spending every dollar of his Income
to Obtain and then is not getting any-
thing commensurate' with those en-
joyed by the farmer. c <
It Is these so-called unledgered
items 6f the farmer's Income that are
too often lost sight of in tha
tions made by our reformer friends
who would legislate a living wag* aad
universal prosperity to those engaged
in agriculture. If tha farmer as a
whole wonld be happy again ho must
take stock of his blessings and thank
God for them, get rid of hie quack
doctors of political bunkum, revalue
his plant and equipment, aad start
over again in full knowledge of tha
fact that he must face keen and effec-
tive competition, that ha must work
hard and intelligently, that he must
calculate In his income Inherent and
undeniable Items, which ara net
measured In dollars and cents
When he does this, I feel perfectly
certain that over a period of pears,
taking the good and tha bad as it
comes to all classes of buslasas, ht
will find that he has lived well, that
ha has had a fair margin for tha en-
joyment of all tha necessities ot Ufa
and a surplus for those luxuries which
he has a right to claim, had above all.
that ha will have had a chance l* be
aa Independent individual, a real g^a
and a self-respecting
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Wright, A. T. The Eldorado Success (Eldorado, Tex.), Vol. 26, No. 30, Ed. 1 Friday, July 23, 1926, newspaper, July 23, 1926; (https://texashistory.unt.edu/ark:/67531/metapth1123827/m1/4/: accessed July 5, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .