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    "title": "Report, A New Life for Farm Families and the Soil They Work",
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    "ocrText": "&\n\"NATIONAL\nARCHIVES\nRECOADS\n1\n- 5 -\nPrices\nWheat production decreased 8 percent but the price declined\nDown\n63 percent.\nIndustry\nMeantime, what was happening in industry. Take\nProduction\nsteel: production down 85 percent; prices down 1 percent.\nDown\nCultivators: production down 90 percent; price down 3\nPrices Steady\npercent. Iron ore: production down 93 percent; price up\n1 percent.\nAnd\nFarmers kept on producing while industry kept on\nUnemployment\nfiring. More persons were working on farms in 1932 than in\n1929; but in 1932, about 12 million nonfarm workers were out\nof jobs, and long breadlines of workers formed in cities all\nover the land.\nIt was with such birth pains as these that American\nagriculture in 1933 and after was born again -- was reborn\nand has since grown to a stature of productivity and stability\ntotally undreamed of 20 years ago.\nAgriculture Today\nA New Life\nThe facts of present day agriculture in the United\nStates speak for themselves.\nIncome\nRealized net income per farm operator in 1951 (not\na peak year incidentally) is estimated at nearly $2,800, nine\ntimes the dollar income per farm operator in 1932. In terms\nof 1929 purchasing power, 1951 income per farm operator was\nnearly 4 times that of 1932.\nAssets\nTotal agricultural assets at the beginning of 1951\namounted to almost 143 billion dollars. Savings in bank de-\nposits, currency, bonds and other forms totaled nearly 22\nbillion. American farmers (virtually bankrupt in 1932) today\nhold an equity in their properties of 91 percent, about 10\ntimes as great as the total farm debt.\nOwnership\nFarm foreclosures in 1950 totaled 1,214 less than\nthree per day. In 1932 farm foreclosures averaged more than\n176 per day, 65,339 for the entire year.\nPrices\nFarm prices at the end of 1951, though lower than\nthey were at the beginning of the year, and also lower than\nin January 1948, averaged 6 percent above parity. In 1932,\nfarm prices averaged about 45 percent below parity.\nThese are the plain facts. They indicate immense\nprogress in the economic position and security of the agri-\ncultural part of the Nation. But they do not by any means\ntell the real story of the American agricultural revolution."
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