The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-07-16


1887 the speculation on low prices was
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crops being in excess OF the demand
and during the last three years this
same speculation has been carried on
by cheek, and did not result IN disaster
only because there were resources 10
draw upon. This success for seven
wears has made the spectators thlnk
that they have discovered the phlloso-
pher's stone, and that betting on low
prices can always be made to earn them
money.
:sThere is no doubt that they would
ruin themselves by persisting in that
policy during the year, as the condl-
tions are entirely reversed; but If our
crop rushes into the market right after
harvest, there IS the danger that most
Of will have been sacrificed before the
speculation for low prices is broken.
There is, however, a remedy, simple,
effective and entirely within your con-
troll. 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 Tor
this crop would start in with double
the price you have obtained during the
last few years.
Could you not act as if early harvest
had been prevented, and could you not
for once avoid undue haste in supply
ing the speculator with the means of
keeping down your prices? Resolve,
for instance, that in view Of the condi-
ton of the worlds crop a minimum
price of Sl.95 for wheat in New York is
moderate and conservative, and that
members of your organization pledge
themselves 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 organization also to act
O.. your resolution. Resolve, also that
the State Alliance form committee
whicA shall keep itselfposted 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 reasonably insist upon
The circular gives lots Of figures and
statistics to prove that this scheme
would be feasible, and dilates upon the
money made on the transactions in
futures by spectators. Farmers are
told to hold back even when better
prices than those suggested are offered
they are warned thatwhen 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 sup
plies.
EThe State Board OF the Alliance, the
farmers are told, will keep them in
formed 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 You do not lose
anything, and if some should be incon-
venienced for few weeks for ready
cash, they will surely not be poorer by
it." |
The authors Of the circular says the
feel confident that most farmers VIII
heed their advice and then viii / un ;
with the assertion that the minimum |
drice they suggest is not at all unreason- i
able, and that the speculator would
certainly want 50 if he had the say:
By holding ofandmarketing gradually !
the farmers are assured they will soon
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