going to play considerably less in the future. We have cut our acreage in two years more than 500,000 acres and I am sure that next year there will be a reduction of another 500,000 acres.
North Carolina has already taken one tremendously long step in preparing for the new day that is upon us. No state in this Republic has prepared for the panic as completely as North Carolina. The live-at-home movement is paying a dividend when most dividends have dried up. The United States government tells of our regeneration in amazing figures. In the past two years, from 1929 to 1931, North Carolina agriculture has been in motion and a definite shift in emphasis has taken place. This year we will harvest 10,000,000 bushels of corn more than we gathered in 1929 and almost 2,000,000 bushels of wheat more than we threshed in 1929. Our oat crop is 2,000,000 bushels more than it was in 1929. Our rye crop 250,000 bushels more. Barley 350,000 bushels more. We have increased our production of molasses from 1,000,000 gallons in 1929 to over 2,000,000 gallons in 1931. We have enough molasses to sop up the depression. As some one facetiously said, we have canned everything but the cat. Our cow peas and soy beans have increased so much that we have not been able to calculate. We have even increased our peanuts 57,000,000 pounds in two years, hay more than 200,000 tons, and sweet potatoes more than 2,000,000 bushels. We are still raising too much tobacco and too many peanuts, but we will not raise too much in 1932.
We talk about tax reduction on land in North Carolina and debate the means to bring it about. Almost every type of legislation in the last General Assembly centered around the slogan that taxes on property must be reduced. In my judgment the biggest tax reduction that has touched land in North Carolina was the $16,000,000 in 1930 and the more than $20,000,000 in