Download or read book The Agricultural Outlook for 1934 (Classic Reprint) written by U. S. Bureau Of Agricultural Economics and published by Forgotten Books. This book was released on 2017-12-13 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Agricultural Outlook for 1934 In the group of manufacturing industries using agricultural products pro duction advanced from 87 percent of the 1923 - 25 average in March to 122 in June, a level that has never before been reached. Prior to June 1933 the highest level of production in this group of industries was 114 percent, attained in April 1929. This high level of output, together with the sharp advances in retail prices, suggests that the peak reached in June may not again be reached within the months immediately ahead. The substantial expansion in output seems to have been stimulated by the existence of low stocks of finished goods, anticipation of higher prices, and expectation of higher costs of operation under n.r.a. Codes. The impetus to the expansion lost its force after June and the index of output for these industries fell to 104 in September. As no stimulation similar to that which existed from March to June seems probable in the next few months, the activity of this group of industries in 1934 is not likely again to reach the peak of June. Nevertheless with a further improvement in indus trial employment and pay rolls and no substantial further increase in the retail prices of textiles, the output and pay rolls of industries using agricul tural products will probably be higher in 1934 than in 1933 and the average for the season may be close to the level of September. The high rate of activity reached in the industries using agricultural products was due primarily to the expansion in output of textiles involving cotton, wool, silk, and. Rayon. Cotton consumption, expanding rapidly following the banking holiday and the suspension of gold payments, advanced from 87 percent of the 1923 - 25 average in February to a peak of 139 percent in June. Since the latter month consumption has declined to 103 percent in September. The close of the 1932 33 cotton season apparently found domestic mills operating at a rather high rate of activity witha very large volume of unfilled orders and moderate stocks, but with sales at low ebb. Stocks of textiles in the hands of who-le salers, retailers, and consumers were probably somewhat greater than in 1931 or 1932. The adoption of the cotton-textile code resulted in a considerable increase in the number of workers employed and in an increase of more than 50 percent in the average hourly wage rates. It seems probable that total mill consumption in 1934 may be somewhat larger than in 1933 provided retail prices of cotton goods are not increased substantially over present levels. 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.