Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1914-12-31
PRICE OF CORN
BEATEN DOWN
BARLEY QUICKLY FOLLOWS

4AoO"o vel pSO WIS IiiS
writer pointed out in several articles,
that Notwithstanding that this coun.
try had a shortage of seven hundred
million bushels of corn as compared
with the year 1912, the grain specula
tors beat the price of corn down from
ten to twelve cents a bushel The
most astounding part of this trans
action was that during the veyy time
| that the grain spectators forced the
price of corn down in our markets, it
actually rose in the Liverpool mark
cts, so that all of the time between
Dec. Goth, 1913, and May Is, 1914,
| the farmers OF this country sold
corn ten to twelve cents bushel
below what the buyers could have
paid according to the Liverpool
markets, and still have a good mar
gin of profit.
The same game is being played this
year, even to a greater extent, not
withstanding the tremendous demand
| from abroad on account of the Euro
pean war. On the 5th day of Decem-
ber. the date of this investigation,
corn sold in the Chicago markets
| (cash) new, mixed at an average of
&C. About thirty five days previous
to this date corn reached the high
point of SO to SAC a bushel on the Chi
cago market. Yet while this decline
of more than zoe bushel occurred
in the Chicago market, there was no
decline in the Liverpool markets; /;
and corn, new, American mixed is
quoted on that market at this writ
ing, Dec. 5th, 1914, at 6s lid, which in
our money means 93c for So pounds.
Publications under the control of the
grain spectators last year tried to
explain this enormous robbery of the
| farmers, particularly the PRICE CUR
RENT, of Chicago, by claiming that
the high price prevailing in Liver
pool was old corn. This claim was a
| palbable falsehood, we'll known to be
so by those making it. Others in a
vain effort to divert attention from
the celessai steal tried to make the
farmers believe that it was because
million ushels had come from Ar
| gentine. OF course, either ignorance
or dishonesty was back of both
claims.
We Have Always Imported Some
Corn
During the past forty years we an
nually imported more or less corn to
points remote from the centers of
distribution, on account of high
freight rates; but at the same time
we have sold abroad an average an.
nually of ninety million bushels.
This should be a sufficient answer to
any person honestly in error as to
the absurd proposition that a tariff
could possibly hold the price of corn
In this country, when every year on
an average we have sold abroad near
ly one hundred million bushels, and
the samelis true of wheat, only on a
larger scale, and other great Ameri
can staples.
But we shall give stronger proof
so strong that even if honesty anG
square dealing toward our greatest III
dustry will no.. nduce people to refrain
from attempts to throw chaff in the
farmers eyes, the blush of shame
may prove etficacious. If the tariff
affected the price of corn it would af
feet it at one time as well as another
The removal 6f the tariff from corr
would not cause the prlce of corn tt
drop about twenty cents bushel as il
has this fall. just as the farmers are
ready to market and regain tha
amount as soon as it is well out O.
the farmers hands and into the hands
of the speculators, would it? But ha.
the price of corn been manipulated
until it has fiuctuated in this man
That is precisely what has been don.
and what has happened, not only the
past fell but every year since tht
Department of Agriculture kept
record of prices.
The following figures were obtain
ed from the Department of Agricul
: ture. The highest and lowest prices
in each year since 1911 only will bt
given. 1t will be noted how The
market manipulators understand tht
condition of the farmer. and at tht
time when the farmers must sell theil
corn to obtain money with which te
meet their obligations, grain specu.
lators, who control the price, always
meet them with depressed price:
Jan. 1911 sold at 4sc. July CSC; difference lsc
JAM 1912 corn sold at 62c June SIC: difference 20c
Jan 1918 corn sold at 48c, Sept 75c difference 27c
JAN 1914 corn sold at Csc. Sept &c., difference I4c
: Present fall the drop was from s3t
to 63c.
The figures for this fall were not
l.