Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1879-12-10
Logic.

Under the heading Of Spectators and
Prices" Bro. Hoskins has an article in the
Watchnian as follows:
In its review of the market the NeU
York Bulletin, speaking of the rise in
prices of breadstuffs. says: A clique
headed by one or two New York receivers
and shippers, and backed by Wall street
capital and influence, has had control of
the wheat market for six weeks past.
During that time wheat has advanced
thirty. eight cents and corn fifteen cents
per bushel." To show how speculation
affects prices in Chicago, mess pork for
January delivery is one dollar barrel
higher than year ago, while lard is con-
siderably lower. A combination of dealers
or even a single strong capitalist, can
within certain limits, make prices 10 suit
themselves, regardless of the natural effects
of supply and demand. The RailCdy
Journal, referring 10 these speculative
movements, estimates that within about
two months "there has been an initiation
by speculation amounting to $435, 100000
in breadstuffs, and S267 100000 in hogs
and provisions" The avowed object of
these spectators is TO keep the farmers
poor, because if the farmers are out of
debt they can hold their crops so that
spectators cannot play with prices in this
way. A Chicago banker let the cat out of
the bag when he said: IF the farmers
were out of debt they could hold their
wheat and corn and derive the natural
benefit of the inevitable rise in prices
before another harvest" This not being
the case, the gain is taken by the dealers,
whose terms the farmers must accept in
order to realize money to meet the press
ing demands Of their creditors are
often these same men.
We suppose it is the lack of proper ag
ricultural education which prevents our
seeing clearly the logical force of some OF
the conclusions drawn from the premises.
An article published the last of October
or first of November states that wheat ha,
advanced thirty-eight cents, corn fifteen
cents per bushe and pork dollar per
larrel, within six weeks then past (Which
would take it back to about the middle Of
Septemher), by the action of spectators.
In this movement is seen another stroke
of spectators whose avowed object" is
10 keep the farmer< poor.
Let us see how the thing will work. By
tie middle or last of September but a
small portion of the wheat of the great
west is marketed. The corn is still stand
ing unhu ,ked,and the hogs arc still putting
on the fat. which will. by-and-by. app ear
as me- pprk. OF the corn and the FORK
The farmer holds in his hands the ,n.ue
new crop Of the articles on which tie
reported rise is made. Now, in December,
those prices still hold. or nearly So having
gone higher after the article was printed
and then fallen off little. The farmer
can sell these articles, corn and pork, at
that advance. How is he made the poorer
by tl
Butter and cheese took sharp turn
upwards in October and November. How
are the producers of butter and cheese
made poorer by selling at higher price
articles produced when all articles were
lower?
Here is an advance in hogs of S276 ,O0O,-
COCOON an article largely if not wholly in
the farmers hands. In breadstuffs, half
Of the amount, or, say, $4,000, 900, !
should go to the account of corn, which is
also largely in the farmers hands.
We can't see how they are damaged to
the amount of about S500,0O0,0OO by that
rise at this time. If that is the case, then
should a decline in prices to that amount
be considered an advantage to the extent
that the rise is damage, Or is any change
in prices damage?
Another part of the article we are q
little cloudy upon, which is the meaning
and scope Of the Chicago bankers re-
mark-"If the farmers were out of debt
they could hold their wheat and corn, and
derive the natural benefit of the inevitable
rise in prices before another harvest"
First here is rise in prices spoken of as
u natural benefit, and in this statement,
which seems to US simple one, Bro
HoskinS sees an avowed object to keep
the farmers poor" which we cannot see,
ewing, probably, to the lack aforesaid.
If we say of our neighbor-" If he were
out of debt he could live much easier and
more happily should we be chargeable
with the "avowed object ;" of preventing
him from living easily and happily? We
think such construction could hardly be
forced upon the language.
In all sincerity, we think there is too
much of this writing calculated to embit-
ter and set one class against another. The
more such writing is INDUCED in, the more
certainly, rapidly and clearly will our
population be separated into classes,
condition which We shall labor to prevent
as far as possible. and whose coming we
hope may be delayed indefinitely.