The Mineola Monitor (Mineola, Tex.), Vol. 54, No. 18, Ed. 1 Thursday, June 24, 1926 Page: 6 of 8
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THE MINEOLA MONITOR
The
BULL'S EYE
tdrU'r and General Manager
WILL ROGERS
myself
cT
&
v*s$>y
^ ' rettes
.-*$&&■
■4,
THE BASIC TROUBLE WITH
BM A0R10ULTURE
Many Mythica.1 Causes Given Eut the Chiet Financial
Problem Rises From Inflation of Capital Account
Based on War Prices-—Remedy Pointed Out—
"Trick Legislation" Will Not Help.
Another "Bull ' Durham adver-
tisement by Will Rogers. Zieg-
ffeld Follies and screen star, and
leading American humorist.
More coming. Watch for them.
Meeting the "Bull"
Durham Smoker
Face to Face
I am just making, as the Politician
says, "A swing around the Circle,"
to see what was going on in "Real
America." I had been in NewYork
so .long, I was getting a kind of a Sub-
way "Slant" on things. I was be-
coming as narrow as a Metropolitan
Kfw spaperEditorialVV" riter. My eye-
sight was geLting so poor I couldn't
see beyond the Hudson River, and
mv mind wouldn't function farther
away than Albany, N. Y.
I knew that NewYork was' 'amus-
ing the svorld," but I wanted to meet
the fellow who was '"feeding it."
I am kinder oddly constituted. You
can cut off my amusement, but if my
food stops you are going to have an
argument on your hands.
I, as Editor and Proprietor of the
'Euli's Eye, wanted to meet not only
(the readers,but consumers THIS
"Wonderful Product of OURS. (The
American Tobacco Company and
ane.) Well, I wish you could see the
type of Men they were, Big fine
icalthy upstanding He-Men. They
were net the little Anemics that has
to tap his Cigarette on the box before
.he can tinckc it. They were our Pro-
ducers of our Necessities of Life.
Wrhen I saw the type of He-Men
smoking ' 'Bull" Durham, it almost
made me cry, that I vvasn't a smoker
P.S. The re will be another piece here
ra. few weeks from now. Look for it.
"Bull"
ESJF EolEBV
Durham
Guaranteed by
ZflLs jiyKJbrLecun, C
INCORPORATED
111 Fifth Avenue, New "V- rk City
NOTICE TO PARTIES
INDEBTED TO W. D.'
KITCHENS & SONS
m s
♦
The notes and accounts due
the firm of W. D. Kitchens &
Sor. fcavs been turned over to
mQ fcr collection. Parties know
ing themselves to be indebted
to said firm will save time by
calling on me and mak-n.-: seitlo
ment. See me at Min?cL •. ...\c
Bank. tf.
AT R. BROWNING
Come here for your Straw
"Hats. We have a selection that
is sure to please you. Try us
tthis time. E. D. Scott.
Fresh Hostess Cakes, Friday
suid Saturday at W. D. Will-
',ims Co.
By melv;n a. traylor
First Vice President American Bankers Association.
IN recent years agriculture and the welfare of the farmer have
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 1,-V years ago there was widespread feeling
voiced by ihe leading agriculturists that the tim<>
was fast approaching when America would
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^'
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 3 per
cent net on his new capitalization.
This now was cut one-half by the re-
duction of his gross selling price and
instead of making a 6 per cent return,
as he was able to do perhaps on his
original $100 acre farm, he has since
been lucky if he has made 1% per
cent on his new capital account.
The Remedy
I am confident that something ot
this kind underlies 75 per cent of the
present difficulty. How can it be
remedied? I believe that time and in
telligent hard work is the surest
restorative of better conditions. No
magic of trick legislation can accom
plish the result. There are a few
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 I 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 years from the
production and sale of farm com
modities to accumulate great wealth
There are those who will say that
unless farming can be made a suc-
cessful money-making proposition
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 business
but I do not believe that it is suffi-
ciently a money-making proposition
to attract those who are ambitious to
play for big fortunes.
There are those also who say that
many men have grown rich in the
past in agriculture. I do not think
they have from the mere production
and sale of farm commodities. The
men who have grown rich in the past
from agriculture have owed their
success most largely to the ownership
of what would now be considered
very cheap lands, which over a pe-
riod of years have shown quadruple
and more appreciation in values.
The Advantages of Farm Life
Cut if agriculture does 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? 1
know it by experience and I know it
by observation. The farmers of to-
day have more good, wholesome food
than any man working on a salary of
$2,500 per year can buy for his family
and be able to pay his grocery bill
without paying ar.y other of his debts.
The farmers who are complaining of
their inability to make money enough
to pay for their necessities of life are
enjoying at home as a natural heri-
tage of their business comforts and
luxuries which the man in the indus-
trial centers working for a salary is
spending every dollar of his income
to obtain and then is not getting any-
thing commensurate with those en-
joyed by the fanner.
It is these so-called unledgered
items of the farmer's income thai arc-
too often lost sight of in the calcula
tions made by our reformer friends
who- would legislate a living wage and
universal prosperity to those engaged
in agriculture. If the farmer as a
whole would be happy again he must
take stock of his blessings and thank
God for them, get rid of his quack
doctors of political bunkum, revalue
his plant and equipment, and start
over again in full knowledge of the
fact that he must face keen and effec
rive competition, that he must wor'.;
rd and intelligently, that he mufst
M. A. Traylor
production of cotton was 14,175,000
bales at an average price of 12.41
eents per pound, while from 1921 to
1925 production averaged 11,362,000
bales at an average price of 21.85
cents per pound. In the 1911-1915
period wheat production averaged
806,358,000 bushels at an average price
of 89 cents, while in 1921-1925 the
average production was 804,384,000
bushels at a $1.11% average; in the
former period corn averaged 2,754,000,-
000 bushels at 60.3 cents while in the
latter the average was 2,373,000,000 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.OS. 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
cotton and cattle, production has been
almost 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
complaint must be looked for in some
other direction. 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 few facts which seem obvious
as a part at least of the underlying
causes of the situation and which sug-
gest something of the remedy that
sooner or iater must be applied.
Present difficulties had their incep-
tion largely in inflation of prices for
agricultural products from 1915 to
1920 with consequent large expansion
of profits. This led inevitably with
the farmer as with the manufacturer
to expansion of plant and equipment
—the acquirement by the individual
of 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 thf fact that there are millions
of farmers who have gone through
the recent crisis without any difficulty
and are today prosperous and con-
tented. In fact the complaints today
are coming from less than 25 per
c.nt of the farmers of the country
and from the hordes of politicians
who are seeking to make capital out
of 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 analyze 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 profits
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 Iris production. But if he did
that he would need a larger barn
and more warehouse facilities. The
chances are that with an appraisal of
§200 per acre on his land he increased
his loan to $100 per :icre. thereby
doubling his capital account and his
bonded debt—not out of 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
capital account in this manner,
100 acre farm was clear,
- i- -'vht his neighbor's
. and mortgaged
i the o-d for $100 per
r .ase, he increased
mis. UNLESS-
You are by yourself or with
someone else.
WE WANT I
WITH YOU.
TIRES
BRIER BROS.
Let Us Solve Your Tire Troubles
J
t
■p? 1: i *
!
m
%
ano li
he prob '
farm for
both the new
acre. In
:ent.
his capital account l->0 per
It is easy to see what this did to
his net percent ;.ge of income, li he
had been able to make 6 per cent on
his original investment, without any
allowance for the increased cost ot
operations which of course did take
place, he cut hi3 net income, based
upon his capita!iz;.iion, about one-half
when he had completed his expansion
ram. But worse than that hap-
not
pro:
calculations had been
pened. His
made upon a price for his product
which reflected wartime demand and
buying power of government money j
which were suddenly curtailed. With'and a self-respecting citizen.
j calculate in his income inherent
undeniable items, which are
measured in dollars and cents.
When he does this, I feel perfect!,
certain that over a period of years,
taking the good and the bad as it
comes to all classes of business, he
will find that he has lived well, that
iie has had a fair margin for the en-
joyment of all the necessities of life
and a surplus for those luxuries which
he has a right to claim, and above all.
that he will have had a chance to be
an independent individual, a real ma:
Z01 f> .%36S Y,.nna!
rytFv-.rr,--
liiiiiifeS
Celebrate the .4th
in EL PASO
FLY Pi
mmzw,
Kill flies forever. Get every one.
They never revive when Tangle-
foot Spray Is used. Ask your ^
dealer. He knev/s Tangle-
foot quality is equally
effective against all
common house
hold insects.
oso
(17.25
ROUND
TRIP
- "tacific .
Quart $1.25;
pint 75c: Vi pint
50c: St/.ofr-f-nrajm*
'5
THE TANGLEFOOT COMPANY
Grand Rapids. Michigan
Bill
Federal Commissioner
Leave Mineola 5:24 A. M.
Saturday, July 3rd
Arrive El Paso 7:15 A. M., Sunday
SPECIAL TRAIN
Standard and Tourist Sleepers
Chair Cars and Diner
Spend Two Days in Ei Faso
RETURNING
Lsava El Paso Monday, July 5th, 9;00 P. M.
•/isit Juarez, Mexico, Acrois ihe River, and See the §
.may interesting sights of a Foreign Land
v. p j>J Particulars and Pullman Reservations
W. E. MORGAN, Ticket Agent |
1 D00
I he Texas & Pacific Railway
>nHiiiiiui:iuii;!:i!in:iiiiiHini!iinuDn
Four room house, cit..* wai ■: j
but no lights in goou jommuni-1
ty will rent for $10.Ou pet j
month or will soli on easy rerrr.r- j
H. 0. Rogers. li
SOLED AND HEELED
PRONUNCIATION AID
Rear Admiral II. O. Stickney, re
tired, who has been appointed by Sec-
retaries Hoover and Kellogg a3 Fed-
eral Commissioner to the Sesqui-Cen-
tennial International Exposition com-
memorating the 150th anniversary of
American Independence and which
will be helrl in Philadelphia from June
1 to December 1. Admiral Stickney
will be in full charge of the United
States Government exhibit, which will
be the largest of its type ever made.
And you have a pair of Shoes
almost as good as new—bettor
in some instances, if just the
new sole olid heel are consider-
ed, for we use only the highest
grade leather in our work.
E. W. JENNINGS
SHOE SHOP
is a prescription for
Malaria, Chills anrl Fever,
Dengue or Bilious Fever.
It kills the germs.
8-261
Stove Wicks for all makes
Duliose & Cage.
June Webster, descendant of the
: famous lexicographer, Noah Webster,
i presents a copy of her ancestor's work
j to the Publicity Department of the
! Sesqui-Centennial International Expo-
sition Association to help them in pro-
nouncing properly the name of the
big events which opens June 1 to cele-
brate the 150th anniversary of the
signing of the Declaration of Independ-
ence. There are many types of pro-
nunciations heard but there is just one
proper way Noah says. It is "Sea-
EC wuh-cen-ten'-nial" with the accent on
the first syllable of the "Sesqui" and
?n the second syllable of the "centen-
Sanitary Barber Shop
Opposite Postoffice
L. T. SANDERS, Prop.
Everything New
and Sanitary
Special attention to Ladies
and Children's Hair bobbing.
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The Mineola Monitor (Mineola, Tex.), Vol. 54, No. 18, Ed. 1 Thursday, June 24, 1926, newspaper, June 24, 1926; Mineola, Texas. (https://texashistory.unt.edu/ark:/67531/metapth285967/m1/6/?q=%22%22~1&rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Mineola Memorial Library.