Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-12-05
the price of beef steadily increased
during this period.
EXuoTtS nppIinp Prices IIi0hpp


the price Of beef steadily increased
during this period.
Exports Decline, Prices Higher.
Shipments abroad of canned beef
lard, wheat, oats cotton, breadstuffs
and cottonseed oil decreased in like
ratio during the year, although the
prices in each case mounted materi-
ally
A combination of foreign shipments
with decreased production undoubt-
edly contributed to the increase in
prices, officials say, but it is diff
cult to determine where the effect of
scant production leaves Off and the
effect of ofreign demand for Ameri-
can goods begins.
The reports as to crop shortage in
the country are startling. Wheat pro-
duCtion in 1916 was about 600 .00G,U
bushels as compared with 1000, 000,-
600 bushels in 1915. At the same
time the world wheat crop for the
year declined SOOOOO0OO bushels.
Early frosts also blasted the canned
goods production in the northwest
greatly curtailing the output.
As compared with a normal cotton
crop of 100000 bales, less than
! 100000 bales We're produced this
year Three-fourths OF the Ameri-
can cotton crop goes abroad eNen in
normal times, so that an embargo on
this product undoubtedly would serve
TO reduce prices although its wisdom
is subject TO question
Wages Would Feel Effect.
The officials express fear that the
first result Of an embargo would be
to reduce wages They point out
that the producers of the country are
very quick to seize a loss for them
selves and pass it on to the other fell
low and they declare the other fellow
IS almost always the laboring man
and the ultimate consumer 1t is GER
tain that the farmers never will con-
sent to a food embargo, unless a re-
striction on shipments of shoes, cloth
ing, machinery and other goods,
which the farmer buys is also impos-
ed A reduction in market for man
ufactured goods could not but work
adversely to all men engaged in man
ufacturing.
The second plan proposed for re-
lief of the high cost of living and one
that is almost certain to be offered as
counter suggestion to the embargo
is government control of marketing
of the necessities of life and govern
mcnt control of prices. The pur-
pose of this measure, as it is present
cd by some officials, is to minimize
middlemen's profits, to prevent mo-
nopoly of products for the purpose Of
boosting prices and to produce great
er efficiency in distribution.
Government price fixing would he
longer step i'm the direction of So
cialism than the United States ever
has seriously considered, but many
men believe 1t offers the only hope of
real relief for the consumer
Europe Limits Prices.
All the countries of Europe, now at
war, have found it necessary to i'm
pose stringent restrictions on the
marketing Of necessities and it was a
wave of high prices such as the Unit
ed States now faces, that made these
restrictions imperative.
Steps undoubtedly Will be taken by
the department of justice to prose-
cute persons who are monopolizing
food products In a manner contrary
to the antitrust laws, but the results
Of similar prosecutions in the past
have not been such as to promise any
real hope of relief Most of the food
are interstate affairs and
for that reason do not come under
the federal laws An amendment of !
the laws, making all monoples which |
affect interstate as well as state bust
ness amendable to the federal laws.
probably be proposed to congress.
The federal reserve board already |
has outlined Hesitation which it will !
propose, designed to reduce the adj |
verse effect Of the large amount of
gold now in the banks. The effect of .
the laws proposed would DO 10 bring |
larger portions Of the gold reserves |
into the federal reserve banks ana to I
make them more easy of investment.