The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-09-03
Supply and Demand and the Trust.


A convention of representatives of
farmers cooperative associations has
been called to meet in Chicago on
September Sth with view to taking
action for the betterment of the con-
dition OF the agricultural classes.
The Chicago Inter- Ocean says the
meeting may do something OF value,
| provided it does not attempt too
much. 1t may, for example," con-
tinues the Inter-Ocean, Suggest
means for q more accurate reporting
of crops, markets and prices. Itmay
also promote the formation OF coop
erative agencies that will save the
farmer expense by eliminating unnec-
essary middlemen. But the idea that
farmers can by any sort OF an Or
ganization do what one OF the appa-
rent promoters OF the proposed con-
| vention seems to think possible-get
81 bushel for wheat, so cents for
corn and 40 cents for oats through
out the years. a delusion, when
conditions are considered." Proceed
ing, the paper quoted says:
'"The prices of farm products are
like all other 'prices-the result of
demand and supply. And the field of
| competition between farmers is world
wide in every sense No country has
a natural monopoly of food products
of general use and Importance.
| Any attempt to set minimum prices
for these products will certainly fail.
No sort OF OrganizatiOn-call
it trust or what you will-can per-
manently override the laws of supply
and demand. When wheat is worth
81 a bushel in the world s market the
farmer will get that price. When it
is not he will not, and then no sort of
organization can get it for him. No
matter how firmly farmers may be-
lieve they ought to get 81, they will
not get it unless it is worth that
price And they are no friends of the
farmer who encourage him to cling
to the 'dollar-wheat' delusion.
! These conclusions are probably
correct as regards wheat and other
cereals, but there is now available in
North Carolina evidence to show
that a trust can ''override the laws
of supply and Demand" at least for
a time. Whether this accomplish
ment can be madepermanent remains
to be seen, but it is a fact that at
this time, since there is no COMPETE
ton in it's purchase, tobacco is not
bringing what it cost to raise it. The
farmers of Eastern North Carolina
are thoroughly aroused on the sub
iect and are organizing for self-pro-
lection. We sincerely hope that they
will find a way OF loosening the grip
OF monopoly upon their throats, but
cofness that we do not see much
hope OF success SO long as one com
pany alone is in the market for their
product There is a movement to
boycott the American Tobacco Com
pany, but, as III all cases, that is a
wrongful proceeding and in this in
stance it gives no hope of success.
The farmers cannot force the trust
to pay them more than it is willing
to give for their tobacco, but, as we
have said before, they can quit rails
ing the weed and turn their attention
to the production OF crops for which
there is an open market.
Leaving out tobacco and perhaps
a few other articles which may be
controlled by a monopoly. The
Inter- Ocean is doubtless correct in its
conclusion regarding supply and
demand. One OF the freak ''ideas
which went out with the decline OF
Populism was that supply and de-
mand had nothing to do with prices
1t has practically all to do with it
unless the natural laws are throttleo
by the existence OF an irOn-claC
monopoly.