FARMING: Land Boom

"Son, any man who buys land in Iowa today is a fool." The speaker, naturally, was an Iowa dirt farmer, sounding off last week on the rip-roaring boom in farm lands. He still remembered the World War I boom, in which Iowa land went to $255 an acre—and the bust, when it dropped to $69. So many went broke that in the early 1930's insurance companies held an area equal to eight Iowa counties. But others forgot to remember. Even in Iowa, fat with corn and hogs, a man could not make a long-term profit on land that cost...

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