230 AGRICULTURAL RELIEF i countries they are better fortified than we are, and we I ve way on i of the fact we had the war behind us. And another thing, in regard to that, I feel in the matter of a ceneral movement of any commodity, that the nearer you are to the consumption the less percentage 1s paid in transportation, and consequently the larger per cent goes to the producer. You take in our State to-day—I am ready to admit before this committee that we have to acknowledge in general the largest all- around crop we have ever had in South Dakota, that is, just by a small amount, all-around crop. While that is true, we have just passed two years with very dire conditions on account of drouth, and we are encumbered and in bad shape, and therefore with this large crop there are not very many people would say, “You folks are going to move on the prosperity line.” But no. Look at the indebtedness we have got to pay, and with the prices to-day, when you take out the percentage that has got to be paid to get our crop to market, compared with transportation—the per cent of the crop we raise, what per cent of that pays transportation and what per cent goes to the producer? It is a vastly greater percentage and to some people nearer, and consequently the deflation of prices are more on us than on people nearer to the market. Mr. MenGes. You said land in your section had advanced from $500 to $800 an acre. Did I understand you correctly? Mr. CrowpEr. That was in northwest Towa that I spoke of when I mentioned that advance. No, the lands in our part of the country got up to as high as $300 to $500. } Mr. MEnGES. Do you realize returns on land that you sell in your State at $300 an acre? Mr. CrowpERr. I can take you to my own books covering my own farms, and I can show where I have had returns up to 6 per cent on the investment, taking five years at those prices. Mr. Kercuam. At what valuation per acre? Mr. CrowpER. $500 per acre. Mr. KercuaMm. You live across the river? Mr. Crowpeg. I live in Union County, S. Dak., in the extreme southeastern part. Mr. Kercaam. I just want to refer to a remark, where you said “sur banks quite generally reflected the condition of agriculture? ‘Tr. CROWDER. Yes, sir. sir. Kercuam. Do you not really believe that it is the general con- census of opinion back there that probably you organized more banks than you ought? For instance, the little town of Springfield not very far from where you live? Mr. CrowpER. That is right. Mr. KEercuam. I happened to be there summer before last, and 1 found in a little town of not over 800 there had been three banks organized. And many other illustrations might be given of similar character. Do you not think that was a bit overdone, too? Mr. CrowDER. I might say in regard to that that our State is spond In statistics of banks, or was prior to the war days. There was pois m2 Site that led us in that respect. But our State was build- atid thon ba ka? making preparations for taking care of that growth NKS were prosperous up to the deflation.