Agriculture
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Abstract
Agriculture C farm income increased in 1937 for the fifth consecutive year and exceeded the 1936 figure by 8 percent. Pronounced gains recorded in the early months of 1937 largely accounted for the increase; in the closing months, cash income dropped off more than seasonally and fell below the level of the preceding year. General agricultural purchasing power was also higher in 1937 than in 1936, notwithstanding a rise in prices paid for commodities and services. The declines which occurred in several States in the Cotton Belt and in the West North Central region, where returns were low as an aftermath of the 1936 drought, were notable exceptions to the improvement in 1937. Moreover, local areas in part of the central region, extending from eastern Montana and western North Dakota south to western Oklahoma and northern Texas, suffered from a continuation of drought conditions which caused heavy