Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1889-08-18
STOP THE wREcKAaR.


While the farmers of this swestern
country are working hard to gain live
lihood by tilling the soil and raising the
products which form the basis of all
commercial transaction, the bear or vul-
ture, On change, is scheming to depress
and wreck the values of farm products
to the injury not only of the farmer,
but the merchant and the railroad. To
depress the market is to destroy the COM
merce Of the country. To wreck the
value of farm products is to prevent the
farmer from improving his property.
Every dollar taken from the pockets of
the farmers is so much taken from the
merchants and the railroads. The "short''
seller or bear on change who conspires
to wreck CT depress values of farm pro-
ducts is doing more to injure the country
than the combined forces of any power
put together.
It is estimated that the loss to pro-
ducers in each of the years 1885, 1886
and 1887 in the five articles of wheat,
corn, cotton. butter and cheese,
amounted to the enormous sum of $780,
600, 900.
The committee on agriculture at the
last session Of congress submitted the
following as part of their report on
this subject of dealing in futures:
''The committee are fully aware that the
evil sought to be suppressed by congress
sional legislation is widespread and disas-
trous in Its consequences to American
farmers, and that the practice OF dealing
in futures or the fictitious buying and
selling of the farm products, so extensive
ly carried on by boards of trade and other
public exchanges, entail upon the farmers
of our country, annually, the loss of hun
dreds Of thousands OF dollars.
These transactions are carried on
by observation-disclosures - regard
less Of cost of production, the laws OF
supply and demand, the interests OF Amer
lean producers or consumers, and sell many
times over the agricultural products
of the land, especially cotton. wheat, corn,
pork, lard, butter, cheese, etc.
On recent Friday il is estimated that
over sc, O00, 900 bushels of wheat alone were
sold in six boards of trade. The money of
the world, through boards of trade, con-
troll prices through these wicked devices
of spectators and gamblers, and the hon.
ces according to the law of supply and
demand.
These Spectators come between the
producer and the consumer, and by Shrewd
manipulation they fix the price for both.
With the combined power of the united
capital they dictate to the producers In
detail the market prices of their products,
and then in turn they dictate to the con-
sumers the price they shall pay for the
rar0 hu rtn IF ho
They break the market by flooding it when
the producer would sell, and they force 1t
up by withholding their accumulations
from the market after the producers have
parted with the great bulk of their crops.
The committee are unanimous in their
opinion that all such gambling transac-
tions should be suppressed by law, and
that heavy penalties should be inflicted
upon persons engaging in the same"
This committee after a thorough in
vestigation were compelled, from the
facts presented, to report in favor Of a
law to meet the case and arrest the in
jury being inflicted upon the farmers.
As yet congress has made no move to
stop it and the time has come for the
farmers to move in body and demand
a national law for this national evil.
The Hon. Geo. G. Jones, of New York,
in his remarks before the committee on
agriculture last year, says:
Until within the last few years trans
actions on board of trades and other ex-
changes, which make public and thereby
control the market or cash value of Amer
lean farm produce, were confined to legit-
innate operations, but now speculative and
gambling transactions in such places have
reached such an extent that they over
shadow all legitimate business and govern
the market value of nearly all products of
farm industry. Cost of production, legit-
innate demand or actual value of property
no longer exercise their proper influence,
but are all swept aside through the over
whelming control of fictitious transac-
actions"
The farmers should be alive to their
best interests, and Though their organi-
cations and representatives in congress
endeavor by concerted action to have a
law passed at the next session of con-
gress to prohibit the fictictious trading in
farm products. Each county of every
western state should send at least two
representatives selected from among the
farmers to Washington this winter and
press before congress the necessity or
immediate action in this motter.
Every railroad company that desires
to improve the traffic on their lines and
the commerce Of the country should join
with the farmers in this move and
secure the passage of this law.
Every merchant, manufacturer and
iobber in the country should use bis in
fluence to stop this wrecking or CAMP
ling in articles which effects tie legiti-
mate business. If this wrecking of
values is allowed to go on where will our
farmers be? What viii become of the
railroads? What will the merchant do?
Nearly every class of business is effected
by it.
What Will the harvest be? Better
prices or lower prices?
KANSAS IN COMPARISON