12 CALIFORNIA AGRICULTURAL EXTENSION SERVICE [Crre. 18 
not yet reached the level that it occupied prior to the war. This 
apward trend in purchasing power was largely a result of the decline 
in the supplies of almonds available for consumption in this country. 
Although there was a substantial inerease in California production 
during this period it was not sufficient to offset the large decrease in 
‘mports. 
Two factors were mainly responsible for the recent decline in 
almond imports: (1) increase in the tariff, and (2) recovery of 
European markets. However, a considerable part of the effect of these 
two factors has by this time already occurred so that no further 
substantial decline in imports is likely to take place. We cannot, 
therefore, expect the supplies of almonds in the United States to go 
much lower. Nor can we expect prices to go much higher. Unless 
we should greatly inerease our plantings, however, the present favor 
able price position can probably be maintained. 
The most serious situation in the almond industry in this state at 
the present time is the low yield per acre. Many orchards yield so 
little on the average that they could scarcely make a profit if prices 
were twice as high. Some of them are so located that they will con- 
tinue to be unprofitable for the remainder of their life. On the other 
hand, well managed almond orchards in favorable locations have every 
prospect of returning their owners satisfactory profits during the 
zoming years. 
Summary —The past decade has witnessed great changes in Cali- 
fornia agriculture. Among the more important of these changes has 
been a phenominal expansion in the acreage and production of our 
fruit crops. The relatively high prices of fruit were the chief cause 
for this expansion. Growers followed a logical course of action in 
turning from the production of low-priced staple erops to high-priced 
fruit crops, but unfortunately they went too fast and too far. As a 
result the production of many of our fruits is now in excess of demand 
at profitable prices. On the other hand, a few of our fruits are still 
in a favorable price position, but they are not likely to retain their 
positions if production is greatly increased. It would seem, there- 
fore, that now is not the time to further expand our fruit acreage. 
From an industry point of view it is clear that we are faced with 
two alternatives, the expansion of market outlets which has promising 
possibilities, or the curtailment of production. The latter would 
undoubtedly result in a larger total gross return for the crop, but it 
will be difficult and costly to accomplish.