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The World War and subsequent events changed the United States from the world's greatest debtor to that of the second greatest creditor. Our country is today a mature creditor country. This is a new experience for us. As a nation we are still debtor-minded. We think and act like debtors; our policies are those that suited the pre-war period.

This change in our international financial position vitally affects the export farmer. His very existence is at stake. Table III, which gives the change in our debtor-creditor position, demands serious study. The story it tells is so important to the well-being of Iowa. farm people that it would be well if this table were framed and hung in every farm home in the state. We might then ponder more seriously the consequences of this changed state of affairs.

This publication is the eighth in the series on the "Agricultural Emergency in Iowa.'' The other circulars dealt with the general existing situation, the causes of the present emergency, the voluntary domestic allotment plan, the Iowa farm mortgage situation, control of the general price level, an analysis for farmers of the Iowa tax situation and monetary inflation.



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