THE BAY AREA, ITS PROSPECTS AND ITS PROBLEMS - 6 - Finally, it means that water and power, to the extent these are supplied by political subdivisions rather than by private industry, must be available in adequate quantities and at reasonable prices. As people and industry move into the area, they increase the demand for land, a natural resource in limited supply, and force the shifting of land to higher uses. Agricultural land yields to residential or industrial use, industrial land or residential land to even higher uses for office buildings and commercial properties. The result is a steady increase in land values and less acreage devoted to agricultural use. Fortunately less agricultural land has not meant less agriculture, for advanced technology has made it possible to produce greater agricultural output with fewer men and less acres. However, the economies of California agriculture is shifting constantly as the local market expands faster than local production.. Before World War II in many lines agricultural prosperity in California depended upon our ability to export our surpluses. Increasingly the local market takes a greater share of local production and now for some commodities we are dependent upon imports. As for San Francisco itself, business today is at the highest level in its history. The city has made tremendous progress. We are the headquarters city for the world's largest bank, the world's largest gas and electric company, the world's second largest railroad, and the nation's third largest oil producer. We're the headquarters city for 30 of the world's largest corporations with combined assets of over 28 billion dollars. Our City is first on the Pacific Coast in waterborne commerce, first as a financial and security market, first as a market and distribution center, first in per capita income and buying.