The great West. [volume] (St. Paul, Minn.) 1889-18??, 1889-10-18
The Markets.

IA he Markets.
ssThe Great West" will give no gem
eral analysis Of the markets this
week. It's table OF commercial ex-
changes and reports Is not Get COW
cred, nor are our facilities for work
in this field complete We have Sc
cured files of reports extending back
twenty-five years, however, and
shall make almost constant use of
them.
The man never yet was born who
could forecast the changes Of the cleo
trio dial in the Chicago Board OF
Trade. 1t is unfortunate that the
dial exists-but it does exfst-and
upon it's unreasonable and scheme
haunted machinery depends the for
tunes Of the great mass of producers
throughout the country.
The movements of the dial do not
depend upon any legitimate demands
of traffic The foreign trade has no
general control over it. This is a
bold statement We will undertake
to prove it hereafter, and incontro-
vertibly. Under the vast, boiling
and seething sea of contending
spirits, on the Board, are less than
twenty men, whose deals are SO
large that any temporary union OF
effort of a half dozen win send the
market in any direction. The ex-
periences in the midst of this mael-
strOm OF winners and losers has laid
bare the absolute rOttenness of the
concern as a commercial organiza-
.tion.
Now, it stands clearly to reason
that a buyer of the 'sreal stuff is
a bear. The s'long" dealer, (that is,
the man who is 'slong" because he
has purchases OF grain ir hand) is
temporarily bull-because he is
NOT NOW a buyer-but "seller!"
he wants to sell what he has. No
ordinary or general laws or maxims
govern a speculatOr-that is, the
nine-tenths of all on the Board who
buy and sell ON PAPER, but never see
kernel of grain. All laws or max
inns which can be drawn or applied
to the market pertain, and then but
dimly, to the dealer in the actual
grain. Among people at large, in
| all the avenues of commerce, the buy
er is bear. He wants the market
down to buy cheaply. 1t is so with
groceries, clothing and grain, and
everything else. The buyer is bear.
Hence, every man who handles the
..stuff' ON the Board, like an .shon-
est gambler is a bear.
eyes, you say, ''but' having
bought grain he then has the wheat
to sell, and wanting to get more
than he paid, becomes bull!''
Yes, but such is the case only with
the option man, the ''paper" dealer
The regular buyer of the grain it.
self is always bear because he only
buys to deliver what is already sold.
The "Old soldiers on the Board, the
ancient men who have stood up in
carnage for ten years, are all Bears
They buy FOR A MARKET-not to
make it! They buy to fill up
''shorts is, sales where their
wheat on hand is insufficient, or
"short," for delivery. They may al
SO buy for export on given sale.
They buy also for milling. You may
count on every actual dealer being a
bear. Hence, the helpless farmer,
who drives his load up to the eleva-
tor and humbly asks, "How much
may have to day ?'-puts his lone
appeal against the combined bear
pressure of every actual buyer in the
world.
We say, and say it with the en-
phasis which comes of a knowledge
of the truth of the above, that an end
MUST be put to this-must be put
to it, or serfhood and universal pow
erty await the farmer.
There is but one way to put the
actual seller, (the natural BULL, before
the actual buyer, the natural bear,
and that is for the farmers to yield
the control of the sale of their wheat
to an organization of themselves.
This means, in fat terms, the Or
ganization of ssCombine''-a trust
"a pool.
| The world is organized against
you. You are without justice and
fair dealing. You must either COM
bine against them or go to the wall.
This means the Organization of a
wheat trust. The work has been be-
gun at Topeka. 1t must be carried
forward. Mark this prophecy
| within twenty-five years the ALI
ances and the oranges, which thus
far have not even spoken of the mat
| ter, will have the Board of Trade of
Chicago on It's marrow bones! It