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The President's Address

University of Minnesota

Abstract

When we met a year ago depression in agriculture was very marked. The prices farmers received for products were low, while the prices they had to pay for commodities they needed were very high. Relief for the farmer loomed large in nearly all literature that dealt with industrial conditions. Much was said about the necessity for improved marketing facilities, lower transportation costs, and more convenient types of rural credit. At that time the owners of meat-producing animals were worse off than any one else in agriculture. They were in debt and they could not get the money necessary to pay off their indebtedness. The market for purebred animals was desperately bad and for nearly all engaged in animal husbandry there seemed to be little hope ahead.

As we come together for another annual meeting we have to face the fact that agriculture is still in a less prosperous condition than any other of our industries.