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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 17, 1935
Page
10
The Chicago stockyards report drought ravages disrupting supply and demand. Government buying and the corn hog programs altered prices, with 8.3 million cattle and 3.6 million sheep purchased for relief, hogs reduced, and shifting profits across cattle hogs and lambs through 1933 to 1935.
Detailed Cedar Valley Farm Business association records show tractor power cost averaged 94 cents per hour in 1934 across 14 eastern Iowa farms. Fuel, oil, repairs, depreciation, and interest shaped the figure, with $2.54 per crop acre total power cost and $2.04 per acre for tractor investment.
Henry A. Wallace argues against proposed changes to the Agricultural Adjustment Act. He contends the amendments aim to scuttle the New Deal farm program, risking gains since 1933, and warns that minority interests push a false scarcity narrative while urging public support for continued farm support and marketing controls.
The Federal Land Bank of Omaha cuts interest on new loans to 4.14 percent with bonds offering 3 1 2 5 percent coupons. Secretary-treasurer William D. McTavish reports strong bond demand, noting $162 million in bonds issued in New York. Since 1933 Iowa Nebraska South Dakota and Wyoming farmers borrowed over $220 million through land bank and commissioner loans, while commissioner loans stay at 5 percent. Iowa dairy product sales in 1933 reached $75,395,100 about 20 percent of the state's agricultural income.
Des Moines reports that a Washington backed export bounty plan aims to restore world markets for farm products by reducing processing taxes on exports and using customs receipts to pay exporters a bounty. The plan targets Iowa corn and other staples like wheat hogs cotton barley, to bridge price gaps with world markets.
About 37 600 farmers and rural youths benefited from 1 573 Linn county extension meetings in 1934. The program focused on corn hog reduction, women home projects, 4 H clubs, and farm demonstrations, with 11 936 attendees at 114 township meetings and $902 460 paid for reductions.
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