Excerpt from The Balance Sheet of Agriculture, 1948 This is not a balance sheet of farm operators, nor of people living on farms, nor of landlords. Rather it is a balance sheet of the industry viewed as one large enterprise. Unavoidably it includes certain items, such as some of the financial assets of farm people, that are not needed in farming operations. On the other hand, however, financial assets of some landlords who do not live on farms may be included. Numer ous investments of farmers, like corporate securities and urban real estate for which no data are available, are purposely excluded. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Excerpt from The Balance Sheet of Agriculture, 1945 The total net income from agriculture, excluding Government pay ments, declined to 14. 9 billion dollars in 1944 (table 3, item 15) as compared with billion In 1943. The decline m net income took place In the face of rising gross income, which includes not only cash receipts from farm marketings but also the value of products retained on farms for home consumption and the rental value of farm homes (item The decline in net income was caused partly by rising operating expenses (item The principal cause, however, was in the necessary Charge against receipts for heavy inventory reductions (item In other _words, gross income in 1944 included returns not only from the sale of the enlarged output of the current year but also, in a larger degree than In the recent past, from the sale of the output of former years. As a result the inventory of such items for sale decreased 415 million dollars In 1944, reflecting particularly de creases in numbers of livestock on farms and to some extent decreases in values per head. Therefore, net income from agriculture was less in 1944 than In 1943 although gross income was larger. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.