The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1917-07-11

speculative price of from 30 to 100
per cent and the producer gained moth
ing.
Must Eliminate Speculation.
After such study and investigu ion.
II is evident that this unbearablc in
crease in the margin between pro-
ducer and consumer is due not only to
rank speculation but more largely to
the wide margin OF profit demanded
by every link in the chain to insure
them from the great hazards of trade
in the widely fluctuating and danger
ous price situation during Il year when
all normal stabilization has been lost
through the interruption OF world
trade and war. All these factors rem
der 1t vitality necessary to initiate sys-
tematic measures which will absolute
~ eliminate all possibility of specu-
lation, curb eNtortionatc profits and
effect proper distribution and restric-
ton on exports to a point within our
own protection. These measures can
not be accomplished by punitive prose-
cutions OF cvil-doers but only by
proper and anticipatory organization
and regulation all along the lstribu-
ton chain.
At Mercy Of Allied Buyer.
-. During recent months tho allied
governments have consolidated their
buying into one hand in order that
they might relieve the burden OF spec
ulation from their own consumers and
as the restricted exports to neutrals
are but Il minor item, the export price
II not controlled, Is subject to the will
or the allied buyer. so that in a great
measure the American producer Is left
to that buyers judgment and is with
out voice.
"furthcrmore. in normal circum-
stances, United States and Canadian
wheat is moved to Europe largely in
the fall months such shipments aver
aging about 4o.00O.0O0 bushels per
month and relieving ii corresponding
flow from the farms into the interior
terminals. This year. owing to the
shortage of shipping. the allied SUP
plies must proceed over a large period
Of the year and will not, during the
fan months apparently average over
20oo0ooo to 25.oo0,0oO bushels per
month.
Situation at Harvest.
I'VE must therefore expect Il rlut in
our interior terminals during a con-
siderable period. The financial re
sources OF the grain trade are probably
insufficient to carry this extra load
without the help of spectators and.
moreover. the consolidation of prac-
tically all foreign buying in the hands
or the allied buyer has further tended
10 diminish the resources of capital
available by putting n number of firms
out of business and limits the financial
capital available in export trade.
The net result Of this situation Is
that unless some strong and efficient
government action Is Immediately set
tied ana brought into play, the Ameri-
can producer Will face a slump in
wheat. and in any event the price of
export wheat will be dictated bv a
single agency and the American con-
sumer will be faced with the situation
that a large part of the essential
hreadstuff has passed into the hands
or spectators: for some one must buy
and hold not only the normal flow
from the farmer. but this proba bile
glut
"4-With great reduction in the con-
sumption of wheat bread now fortu-
hhteIy In progress. the employment Of
our mills must he greatly diminished
and the reduction of domestic flour
production and our daily feed from
wheat rcsidues will be greatly cur
~