The farmer will have no money to buy and those who have gone to town will come back to the farm or starve." "Do you know that 75 per cent of the farmer& are over 40 years old? What is going to happen in the next 10 years unless conditions change so that young men will be attracted to the farm?" Some of the most interesting replies were made to the question. "Why have so many farmers failed in business since 1920" ? Here summarized and in some cases in exact language are leading replies: "Deflation." "Slump In land values and prices in everything produced on farm." "Low buying power of the farmers dollar." "High cost of production." "Legislative handicaps. such as protective tariff. transportation act. and immigration law." "Everybody except the farmer helped through legislation. having both to sell and buy at the other fellows price." Some of the questionnaire sheets as filled out by farmers included a half dozen different reasons for farm failures since 1920. All these just quoted were included in the replies of more than 25 per cent of those who answered. Other reasons given for farm failures were: "Decline in prices of farm products heavier and more abrupt than drop In prices of what the farmer had to buy." "Debts contracted and low prices followed." "Land and livestock bought at high prices." "Overexpansion and sometimes bad management. the farmer Is not infallible." "Inability to adjust business to changed conditions." "Because the tariff cant be. made to do as much for the farmer as for the manufacturer." "High cost of marketing. especially high freight rates." "Lack of organization needed to meet organization in other lines." "Most farmers who have failed since 1920 have failed.
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