Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1891-07-18
Proposed Corner on Wheat.

ST. LOUIS, July ia circular which, it is
said, has been broadly circulated in Kansas,
ports to come from alliance sources, and its
main features are here given:
1.-The farmers alliance demand unani--
| Nously that the speculation for future de-
/, liveries of cereals shall be prohibited. The
greatest competitor of the farmer is the
Spectator. The Spectator sells for delivery
in any month of the year, and therefore
makes it necessary for the actual consumer
to lay in such stocks as he may consider rea-
sonably sufficient for his requirements. The
farmer coming in with actual grain finds
most of his customers supplied by the spec
ulator who promises to deliver. He has no
choice but to sell to the elevator man at q
lower prlce. It is competition between
gram and wind, in which the wind has the
advantage, as the wind crop is never short.
''This manipulation has robbed the farm
ers of this country of $500, OO0, 600 in the last
three years. This year seems especially de-
signed by Providence to help our farming
interest: Our wheat crop promises to be
good. The European crops are worse than
they ever have been and the reserves are ex-
hausted. Under such circumstances the true
value of wheat is gleater than ever before,
and it is astonishing that spectators should
dare. to bet on low prices. This, however,
explains itself for the following reasons.
LOW PRICES MUST NOT PREVAIL.
During the four years from 1884 to 1887
the speculation in low prices was successful
on account of the worlds crops being in ex-
cess of the demand, and during the past
three years this same speculation has been
carried on by check, and did not result in
disaster Only because there were resources to
draw upon. The success for seven years has
made the spectators think that they have
discovered the philosophers stoEe. and that
the betting on low prices can always be
made to earn them money. There is no
doubt that they would ruin themselves by
persisting in that policy during this year,
as the conditions are entirely reversed, but
if our crop PUSHES into market right after
harvest there is the danger that most of it
will have been sacrificed before the specula-
ton ON low prices is broken. There is. how
ever, q remedy simple, effective and entirely
within your control.
1.-THE stocks of wheat and flour are hardly
large enough to supply the wants of this
country until the new crop comes in. If for
some reason the rush of new wheat should
not come as early as anticipated the market
for this crop would start in with double the
price you have obtained during the last few
years. Could YOU not act as If an early har-
vest had been prevented, and could you not
for once avoid undue haste in supplying the
Spectator with the means of keeping down
your prides?
'.Resolve. for instance, that in view of the
condition of the worlds wheat crop mini
mum price of $1.35 for wheat in New York
is moderate and conservative, and that the
members of your organization pledge them
selves not to market their wheat at lower
prices unless they are under contract, and
that they will use their best efforts with
friends and neighbors outside of the organ
ization also to act on your resolution.
WATCH To BE KEPT.
Resolved, Also, that the state alliance
form q committee. which shall keep itself
posted about the state of the worlds market
and from time to time notify the farmers of
changes taking place, and advise them upon
the minimum prices that they may reasona-
bly, insist upon"
The clrcnlar gives lots of figures and sta
feasible, and dilates upon the money made
on the TRANSACTIONS of futures by spectators.
Farmers are told to hold back even when
better prices than those suggested are offered.
They are warned that when the circular is
made public Spectators will answer by
floods OF news from all parts of the world
alleging Improvement in crops, declining
markets and abundant supplies.
The state board of the alliance. the farm
ers are told. will keep them informed with
reliable news. The circular continues:
''This action would be similar to a strike,
but with this difference: The workingman
loses money every day the strike lasts. while
be Inconvenience for few weeks for ready
cash. they will surely not be poorer by it"
The authors of the circular say they feel
confident that most farmers will heed their
advice, and then wind up with the assertion
that the minimum price they suggest is not
would certainly want So if he had the say.
BY holding of and marketing gradually the
farmers are assured that they will soon see
their power.