New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-20
President Taft Issues State
ment Based on Reports Sub
mitted by Secretary of
Agriculture.
SAVING OF S5OO,OOO,OO
This Alone Is on Nine Great
Crops of Country, According
to Prices of October /,
1912-Farmer to
Have Share.

From a staG Correspondent OF The Tribune
Beverly, Mass" Oct. 19.-"The wave
Of extremely high prices for food
throughout the civilized world has
reached it's height in the United States,
and is subsiding. The American people
have cause to be thankful that, because
Of our industrial prosperity, il has not
been attended here with the great hard
ship which has prevailed in some for
,ion countries, where high prices have
combined with low wages to reduce the
working people to point bordering on
starvation
This statement was made to-day By
President Taft, who bases his conC!u-
sion on the results Of an inquiry he
caused 10 be made by the Department
of Agriculture, and which shows that
as a result Of the bumper crops and
the great prosperity Of the American
farmer there has been a material de-
crease in the cost of food products, al
though in most instances the reduction
has not yet reached the consumer, and
in some. at least, will not do so for
some months. The most notable in
stance Of the latter is the case Of corn,
which is ultimately marketed in the
form Of meal products. The increased
crop will inevitably result in cheaper
meats. but not until the cattle, sheep
and hogs fattened on this years crop
have had time to reach the consumer.
Secretary Wilson reports that, As
compared with a year ago, the aggre-
gate crop will be about 20 per cent
greater, and that the supply this year
will average 10 per cent greater than
it has been for a number of years. He
shows. too, that already certain staple
articles are showing the effect in re-
duced prices. This years wheat crop
is nearly 1OOOOO.OOO bushels larger
than it was last year, and already a
ing at the mills so cents less a barrel
than it did a-year ago. There are 80
0N0,000 people in the United States.
and the average consumption Of flou"
is one and one-hfth barrels. so that
this item alone, even at the present
price will affect a saving Of SlOSOOO,-
600
The corn crop. for the first time in
the history OF the country, exceeds
SOO00OOOOO bushels, amounting to 20
per cent more than last year Although
this crop will not be freely marketed
for a month or more, there is already
a decrease in the price Of seven cents
bushel as compared with last year.
The immediate and temporary effect
Of the big corn crop is a scarcity Of
meat and an increase Of price, because
the farmers are waiting for the cheap
er corn with which to finish their
stock for market. but the ultimate
effect will be cheaper meat. That is
inevitable.
Second only to corn, the hay crop
affects the price Of meats. This year
The hay crop amounts TO 100000
tons, as compared with 55,00O,OO0 tons
year ago Average price Of hay had
fallen on October l TO $11 rs a ton
a reduction Of 50 "a from the price pre-
yailing a year ago. In addition to
making for cheaper meats, the reduced
prics Of hay will affect similarly the
cost Of milk, butter, cheese etc.
What is true Of wheat and corn and
hay is also true of oats, but to a still
greater degree. This years crop
amounts to 1,417,OO0000 bushels, an
Increase over last years crop Of more
than so per cent. Most Of this crop is
used for stock, and the increased crop
and lower prices-on October 1 a
bushel Of oats cost 1876 cents, as com
ii NJ