Block 483

Cu a national basts, farmers’ net >me in 1956 rose to an estimated 11 H bill, a dollars, up four per cent from 19r>5. Payments under the new Soil flank and wool incentive programs accounted f< r about 300 million dol tavs ef the increase. The Termin ate million dollars reflected in "i ■ t-d .jP;s from farm marketings, only partly offset by Tie he- production expenses. In 1956. there was a net liqnida ■iou of inventories, especially cattle. In 1955. there was a net accumu •aiion of inventories. Net income of farm operators after adjustment for ■nventory change was 11.6 billion d 11 >rs in 1 :’“*i compan d wj'h 11 7 billion in 1955. Adding fann wages of 1.7 billion de'lars and 63 billion of income from non-farm sources to the ad iusted net income of farm operators gives 19 f! bdlion dollars as the total income of the farm population This was one per cent above 1955. With 'he fa m populai.nn showing very little change, per capita income also rest cne per cent to $1199. This was the first year since 1951 that per capita income of the farm popula tion did not decline. Pei- capita in come of the non-farm population in- , creased four per cent in 1956.