The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Fo*
¥
131
oa XP*Ç
G ro yl(J{N o T ?S
BOARD DF J D V E R N D R S
%
OF THE
FEDERAL
RESERVE
SYSTEM
Officc! ^lorrespondeSiél^ 7 °\
To
Chairman Ecc1es_
From.
L a u cì hlin
h lin C
u r r ie
üurr
Date.
Subject :
M av 1 0 ,
19 5 8 .
Mflt w rl fltf 1n n n n w ftn tin n w i t h
s p e e c h __________
On page 15 the tax paid by Englishmen is #558.12 and by the American,
$48. At the bottom of the page insert 1.5 and on the top of page 16
insert 1 per cent.
I am enclosing some material on the faxm situation. You will note
that cash farm income reached a high point in April of 1937 and did not
start to decline until August.
CASH FAEM INCOME
INDEX
1924-1929*100
(AAA payments included)
January
February
March
A%il
May
June
July
August
Septamber
October
November
Decenber
1936
66.6
63.0
69.3
74.0
79.5
86.7
90.8
75.8
78.2
78.6
79.7
82.8
PRICES RECEIVED AMD PAID BY FARMERS (Aug. 1909-July 1914 - 100)
1936
January
February
March
April
May
June
July
August
September
October
November
December
Average
Prices received Prices paid
Ratio
for farm products
for goods
bought
109
109
104
105
103
107
115
124
124
121
120
126
(114)
122
122
121
121
121
120
123
126
127
127
127
128
(124)
89
89
86
87
85
89
93
98
98
95
94
98
(92)
131
127
128
130
128
124
125
123
118
112
107
104
(131)
130
132
132
134
134
134
133
132
130
128
127
128
(131)
101
96
97
97
96
93
94
93
91
88
84
81
(92)
1937
January
February
March
April
May
June
July
August
September
October
November
December
Average
WHOLESALE COMMODITY PRICES
(Index numbers of Bureau of Labor Statistics.
1926 = 100)
1956
Farm Products
Foods
1937
Farm. Products
Foods
Jan.
78.2
83.5
Jan.
91.3
87.1
Feb.
79.5
83.2
Feb.
91.4
87.0
Mar.
76.5
80.1
Mar.
94.1
87.5
Apr.
76.9
80.2
Apr.
92.2
85.5
May
75.2
78.0
May
89.8
84.2
June
78.1
79.9
June
88.5
84.7
July
81.3
81.4
July
89.3
86.2
Aug.
83.8
83.1
Aug.
86.4
86.7
Sept.
84.0
83.3
Sept.
85.9
88.0
Oct.
84.0
82.6
Oct.
80.4
85.5
Nov.
85.1
83.9
Nov.
75.7
83.1
Dec.
88.5
85.5
Dec.
72.8
79.8
@FedFRASER