NATIONAL FARM INCOME

Nelson Evening Mail, Volume LXVI, 20 August 1934, Page 2

NATIONAL FARM INCOME

EXPECTED INCREASE IN SJ.S.A'.

DESPITE DROUGHT RAVAGES (United Press Association—By Electrio Telegraph—Copyright) NEW YORK, 18th August. Tho “Times” Washington correspondent states that tentative estimates indicate that despite ravages of the drought the aggregate national farm income in 1934 will exceed last year’s by over a billion dollars or about 20 per cent. Preliminary figures not yet officially released by the Department of Agriculture mention a total of 5,950 million dollars compared with 4,868 million in 1933. The total, however, includes about half a billion bounties granted by the Government from processing taxes to wheat, cotton, and other basic crops.

FORAGE FOR LIVESTOCK IMPORT DUTIES WAIVED NEW YORK, 18th August. The New York “Times” Washington correspondent learned that President Roosevelt on the 10th inst. took the unprecedented action of waiving by Presidential proclamation the import duties on hay and other types of forage for the benefit of drought-stricken western livestock producers. No announcement was made at the time, as it was hoped it might not be necessary to invoke it; but now substantial imports are considered imperative, and it is expected they will come entirely from Canada. It is also reported that certain types of wheat for seed purposes will probably be necessary, but there is no indication if these will receive tariff benefits.