The boom in farm land reached a familiar milestone. After nine years of steady climbing, said the Department of Agriculture, farmland prices had finally hit the peak reached in the post-World War I land boom. Prices rose 7% last year to 205 (1935-1939 equals 100), the 1920 top. And in 32 states, particularly in the southwest where irrigation had increased productivity, land values had long overshot their post-World War I mark.
Had the crest cf the boom been reached? The department found some evidence that it had. In three states (Florida, California and...
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