The Economic Strength of South Dakota's Agriculture

What is the economic strength of South Dakota's agriculture? How may its stability and financial strength be increased? The purpose of this circular is to answer these questions by examining the trends in farm mortgage foreclosures and other factors indicating the strength of agriculture from 1921 to 1955. Unfortunately there is not available any single measure of economic and social welfare. High prices and low costs do not necessarilv mean high profits. Drouths, hail, diseases, and insects may reduce production. On the other hand, high production with low prices and high costs may be equally unsatisfactory. A high degree of farm ownership by the farmers themselves usually indicates a prosperous agriculture, but some tenants have higher farm incomes than do some owners. On the other hand, tenants often lose some of the satisfactions and social values which are found in farm ownership.