Tensas gazette., 1909-09-10

something unheard of in this country.
May wheat passed dollar and thir-
ty cents; July wheat was proportion
ately high, and, IT, spite of a drop, II
is predicted by grain spectators that
the prices will go up still further.
This condition of things is supposed
to be the outcome of an extensive
grain speculation-a wheat corner
manipulated by one James A. Patten,
of Evanston, Ill.
Patten predicts shortage in wheat.
On the other hand, James L. Wilson,
United States Secretary of Agriculture,
says In his report that there are 143-
900, 900 bushels of reserved wheat. Pa
ten says that Wilson gets his reports
from postmasters and country mer-
chants and does not know what he is
talking about. To which the Secretary
OF Agriculture answers:
That fellow in Chicago is engaged
in scheme to rob the consumer and
make money. We don't get our in
formation from postmasters. We get
1t from farmers who are reliable, con-
scientious men,"
1t can hardly be doubted that the
statement of the secretary of agricul-
ture is correct.
But what is there to be done?
Ii is unnecessary to elaborate what
wheat famine would mean in this
country. Already bakers in large
cities have held meetings for the pur-
pose of raising the price of lCead-
after the size of the loaf has been con-
tinually diminished for the last five
years. In New York, Chicago and 9TH
er places there are now fears of bread
riots.
And it is significant that Patten
finds a defender of his wheat corner
In J. Ogden Armour, his old pit foe
and opponent.
The meat magnate is of the opinion
that the system of trading in futures
of grain is legitimate, is necessary and
is here to stay, and that congress can
not and will not change it.
However, the excuse and justification
of modern industrial trusts were al
ways based upon the fact that the
trust methods simplify the production
and cheaper the product, and that the
squeezing out of existence of thous-
ands of independent concerns was
therefore a matter of progress.
But all that can be said in favor of
grain speculation is that in this way
the price of grain is regulated by TAX
ing into consideration the crops of the
different grain producing countries
and the grain on hand.
1t is a mighty poor regulation at
best. And in this country, so far, this
has only resulted in holding down the
price of the harvest when the farmer
sells it, and in making it more ex-
pensive when the consumer buys it.
However, this is declared to he
necessary for modern business. 1t has
been defended by some influential pa
pers for no other reason than that
with which these papers defend every
thing favorable to the rich man.
Mr.. Patterns wheat corner is also a
proof that the mercantile school OF
economics, with its wisdom of '1ais-
sez faire'' ("let it alone'O, has been
carried ad absurdum by modern cap
talism. The general statement that If
we let the grain business just take
care of itself grain prices will take
care of themselves and find their
proper level has been shown to be a
mis-statement.
In days gone by the policy of all
governments was different 1t was an
axiom of every government that looked
for permanency-wheth republican
or monarchical-to prevent bread fam.
| ines
In former days, when commerce and
transportation were very limited and
the population very largely dependent
upon a comparatively small territory
for its sustenance, that was no simple
question to solve.
In old Rome the republic sought TO
prevent a dearth of grain by laying in
a supply which was purchased abroad.
Later on, grain came in more plenti-
fully as tribute from the provinces
This was sold at very low price to
the citizens.
Since the days Of the Gracchi, this
became a fixed policy of the Roman
government in order to prevent rev.
olution. And the Roman emperors not
only supplied the populace with bread
but also with amusements-''panem ct
circenses" C'bread and games') be-
came a maxim of the wisdom of all
Roman statesmen when dealing with
the people.
In the Middle Ages there was no un-
restrained trade in grain. The cities
regulated it according to the principle
that the entire population had a right
to a sufficient amount of corn. And
corn was the name Of the most i'm
portant grain of the vicinity, whether
oats, barley, rye or wheat.
For over a thousand years the vari-
Gus governments kept up the same
policy. Any artificial rise in the price
of grain was considered corn usury,"
and punished very severely.
Some governments tried to prevent
even the possibility of dearth-as
far as this was possible in those days
of limited facilities and primitive agri-
culture-by prohibiting the export OF
grain.
Later on they put heavy export
duty on all agricultural products, in
cluding cattle, butter, cneese, etc.
This policy was changed in France