The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-09-01
sTABILIZING BUSINESS.

The delay to business by reason. of
the time taken to probe the cost of
production in an effort to ascertain a
fair price basis for different commo-
dities, must be taken philosophically.
1t is part of the time and money
cost which is involved in the enormous
operation of shifting the industrial
machinery of a great nation from a
peace to a war basis. On the whole,
the operation has caused a moderate
amount of damage when we consider
how far-reaching and complicated an
upheaval such change must involve
Take, for instance, the great and rev.
dictionary steps which have been
taken in the matter of food control
since the passage of the bill making
H. c. Hoover national food dictator.
Mr.. Hoover is the only buyer of
food crops worth billions of dollars.
He is also the only seller. He is the
market. Under such an arrangement,
to which there is already universal
agreement, trading in futures drops
out almost automatically. 1t has al
ready been abolished voluntarily by
probably will be eventually in nearly
all. There never was such power in
commerce given to one man before;
but there never before was such an
emergency.
Mr.. Hoover's task, says the Bache
Review, is not to disrupt trade. but to
stabilize it. In wheat, for instance
the millers cannot buy grain except
thru him at an agreed price for flour
to the baker, with the bakers. agree
ment as to the charge for bread Ordi-
nary profits will be allowed, but not
excess profits. The storm-Wind is TAX
en- out of the sails, but the motor con-
tinues to work steadily and the shin
moves on. So it will be with all foods.
Wheat must be saved for the allies.
and under this preponderating power.
1t will be. The country and the great
business forces of the country are with
Mr.. Hoover in his giants task. If
there is any opposition to him it is
from political blatherskites, and they
will be swept away by the force of
public opinion like dead trees before a
sirocco.
Sterilization of trade is a good thing
for all business, in the long run. Spec
ulation in a commodity may have a
steadying effect in peace times if the
supply is good. but speculative ex-
cesses are bad for all trade, and espe-
cially bad in initiation times like these
when excess speculation is likely to
break out. Crops in which there is a
world shortage are liable to these ex-
cesses. A serious world shortage is
now developing in raw sugars. Hence
speculation in sugar was beginning to
show some excitement. The Hoover
ban has been applied and the specula.
tive market here, too, is now dead II
is better for the trade to have prices
held at a reasonable level
These colossal and unprecedented
vast business operations are being con.
Quoted by the best business leaders as
voluntary assistants to the food con.
troller. and the adequacy and effec.
tiveness of results are producing in all
lines of business thruout the country a
spirit of patriotic pride and desire tc
cooperate with the government in
every possible way to help in the
prosecution of the war.
Thus the mighty power of America
is being modified and when fully ir
operating efficiency the effect will be
irresistible upon the common enemy.
| Many instances are recorded in his