Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1892-04-28
AN ANTI.OPTlON ADVOCATE.
A Well Known Farmer Discus
ses the Cause of Low Prices
for Wheat.
Wind Sales and Government
Crop Reports Largely
to Blame.
Seward Post, G.. A. r., Scores
A Successful Dramatic
Entertainment.


In answer 20 an inquiry from an Alert
reporter as to what are, in his opinion,
the chief causes for the decline in the
price of wheat, the following from Mr.. FL.
M. Taber of Ann Arbor, Mich, IS of
interest. Mr.. Taber is one Of the large
farmers of the James River valley, crop
ping for himself and others in 1891, some
1000 acres OF land, and his opinion is
worth considering, coming as it does,
from a practical farmer who raises wheat
simply to sell at profit, having no other
connection with board Of trade, eleva-
tor or transportation companies, to IN
hueuce his views. &
"When the farmers Of North Dakota
we're engaged in threshing their wheat
last fall, there was a we'll grounded opin-
ion prevailing that the condition of the
worlds crop warranted the expectation
that better prices would prevail, and
great deal of wheat was held by the
shlewdest and most farsighted men with
this idea in view. The history of the
wheat market from that time till the
present must convince any sensible man
that supply and demand are not the only
factors, and perhaps not the principal
ones in fixing the price of wheat. The
farmers CT this state should study the
causes that have led to this disappointing
condition of things and ascertain if there
is any remedy. Undoubtedly speculation
and manipulation of the market is to
great extent responsible for this unex-
pected turn in prices, and the bill now
pending before congress may be relied
on to correct this evil, to some extent, at
least The farmers of North Dakota
should be unit in favor Of this bill.
Any legislation that will tend to
prevent the offerings of wind wheat"
which not only supply the demand for
'"'wind wheat" but to considerable ex-
tent must supply the demand for the
actual stuff In sales for
future delivery, will be beneficial.
1T Is claimed by those opposing this
bill, that for every seller of speculative
wheat there must be y buyer, and that
ono offsets the other. Was that true in
Chicago two weeks ago, when Partridge
offered so much wheat that the market
refused to take it and decline OF five or
six cents a bushel resulted? It is un.
questionably true that sales Of "wind
wheat" for future delivery, made to par
ties who are after the actual stuff must
tend to depress the market, for in it's
effect 1t is putting so much wheat on the
market that does not exist, and in a
measure supplies the legitimate demand.
The Chicago board of trade in it's circu-
lar issued for the enlightenment of con-
gressmen on this question, admitted that
the sale of "wind wheat" in''bucket shops"
unquestionably tended to depress the
market, and strongly advised that these
sales be prevented by legislation,
but the circular fails to explain
how the sales of "wlnd wheat"
on the board of trade are beneficial,
while such sales made in bucket shops
are injurious to the farmers
interests. It strikes me that in
their effect they are very much
alike. Sales of wheat for future
delivery, where the sales have not the
actual wheat back of them and which
are not consumated by actual delivery,
should be stopped. This is one of the
things that the farmers should labor
to bring about.
THE GOVERNMENT CROP REPORT.
"Another question that the farmers
should be investigating Is. as to whether
the crop reports issued by the agricul-
tural department at Washington are not
a positive injury instead Of benefit to
them. Assuming that the person or
persons controlling the issuing of these
reports are always strictly honest, and
are never engaged in speculation them
selves or are in collusion with specula-
tors, and assuming that the information
obtained by the department is entirely
reliable. the question still remains, is 1t
sensible or businesslike that the farmers
should allow the government to collect
the minutest information in regard to
their business, and put the buyers of
their products in possession Of this in
formation? No individual conducts his
own business in this way. IT the govern
ment was engaged IN seeking information
in regard to the products that We are
importing, such as tea, coffee, etc., there