The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-09-26
THE BUTrERWORTH BILL AND ITS
CRITICS.

The latest claim advanced for the spec
ulators of New York and Chicago by the
Brooklyn Standard Union is that the re-
cent advance of prices in wheat and corn
is due to their efforts to buy, in anticipa-
ton of a shortage, which is not yet an
accomplished fact.
The same paper declares that ''the
very speculations the farmers are grum-
| bling about help them to speedy mar
ket at high figures and turns over to
| them certified checks" This reads well
by itself but when put along side other
well known facts does not impress one
so much.
-Four hundred million bushels of wheat
represents the wheat crop of this country
worth, as the price ranges, from three
hundred and forty millions to four hun
dred millions of dollars.
From speculation in this, as well as in
other classes of produce, immense for
tunes are made and in the different great
cities Of the country is supported a class
who make their living solely by dealing
therein.
Does any one seriously believe that
through any system of deals, the crop
can be yearly made to sell for more than
it is worth: 1t is not reasonable to sup
pose that if it is forced up beyond its
value for awhile, it must sink again be-
low its value, so that in the end with all
its variations, the purchasers pay for it
Just what its true value is as compared
with what they can obtain elsewhere?
Meanwhile, as a great deal Of money is
made by these deals, the question that
naturally suggests itself is who contrib
Utes that, the purchasers or the produC- |
ers?
The money comes from somewhere, |
and the theory of the opponents of the
Butterworth bill is that, through the |
of the spectators, the
purchasers are forced to pay a higher |
price for the produce than they would |
pay in the aggregate if there was no |
speculation in the produce; in other |
words, that they stand between the pro- /
ducers and consumers and prevent the |
former from being heeced by the latter:
but in so doing the spectators force the t
consumers to pay higher price for the
produce than it is worth, the spectators
and not the producers must reap almost
the entire benefit therefrom; for. while |
the products remain from year to year in
about the same pecuniary condition, al
though the number of consumers con-
5tantly increases, the spectators draw to
themselves such a share of the profits
that a continually accelerated movement
is attracted thereby to the city from The
country, through the hope which is
thereby excited that this wealth can be
acquired much more easily in cities than
IN the country. While this movement
from country to the city, then. adds
occasionally some shrewd, clear-headed
men to the successful men of the day. il
llso adds continually to the hosts of
Daupers. who crowd the great cities and
contribute TO their wonderfully rapid
growth.
1t is the recognition of these facts that
has dictated the Butterworth bill. and no
amount Of sneers can prevent attention
rom being directed to the thorough in
,estigation Of this matter. nor any
AMOUNT of sophistry prevent the passage
IF legislation to correct the evils arising
rom this unhealthy condition.