Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-05-26
Speculation Running Riot.
=. A. LaBaume for the Norfolk &
XastArn Railway Co. writes:

=. A. LaBaume for the Norfolk &
Western Railway Co.. writes:
1T IL Just announced that the fed
eral government 10 investigating the
holding Of $1,000 barrels Of -four by
food spectators In Richmond. It is
also reported that several thousand
bushels of beans have been purchased
for speculation and are being held in
Lynchburg. We are advised that
spectators are travelling through
many sections Of Virginia offering
farmers $l.75 Pc. bushel on a contract
basis for their 1917 crop Of potatoes,
and the prices Of all other food stuffs.
groceries, meats and bread. have
advanced from one to three hundred
percent during the past few months.
I'VE American people in our mad
desire to provide for the future, are re-
sponsible for this riot in food stuff
speculation. While the war situation
has its very serious side. nevertheless.
the sacrifice that our men at the front
may be called to make has Its COM
persation in results to be achieved.
The rapacity Of private greed. how
ever. that will trade upon the exigen-
cies and necessities Of the American
people cast into the throes Of war. will
only result IN piling up individual for
tunes at the expense Of the masses OF
our people.
THE really great misfortune that
confronts US lies in the tendency OF
our citizenship not to recognize the
need OF strict economy. Most Of us
are living as abundantly and indulging
in as many unnecessary Injuries to-
day as We did before the war was de-
clared. and il we will get together as a
whole and reduce our purchases to i'm
mediate needs and to the lowest mini
mum consistent with good health,
these unprincipled food spectators
will soon be driven to cover
Above all things. let us refrain
from purchasing in quantity to take
care Of possible future needs. The
purchasing OF food supplies for future
consumption hv the people is just what
spectators most desire because it re-
duces the present visible supply and
thus helps to boost prices. Let US all
he patriotic enough and play the game
fairly so that we will not be induced
70 take advantage Of others by buying
for storage against future needs.
Coal AZ $50 per ton Is twice the
normal price. Don't buy it nCw-the
probabilities are that II will not go any
higher and will very likely fall con-
siderably before needed for winter use
and refusal to purchase now by the
masses Of our people will inevitably
result in price decline. Let all of us
he game and take our fair percentage
Of the chance OF further increase by
not purchasing beyond our immediate
needs"
II If as plain as the blood in an T.
boats eye that the food and fuel supply
is much larger than put out for scare
purposes in the interests Of speculat-
ors and market manipulators II the
American people will settle back in
harness and refuse to be scared into
buying for possible selfish comforts
when others are suffering from an ac-
tual shortage. these selfish agencies
would coon come TO their knees and Of
fer their goods at reasonable prices
giving them reasonable profits.
II the coal sharks are confronted
with the fear that the people are turn
ing to wood, or are Withdrawing to
smaller quarters with less heat. they
will see a new light.
II the holders of -four and beans and
feed grains learn that farmers are
selling off their grain eating stock, are
turning to corn and vegetables in
place Of -four. are refusing to buy
fancy packages because they cannot
eat the costly wrappings, are saving
and canning. and drying. and are cut
ting down purchases of everything.
then the storage houses Of greed and
treason will open.