Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1918-09-12
PRICE OF s2.2o FoR WHEAT NOT
INTENDED TO BRiBE FARMERS
WITH DREAMS OF WEALTH.
NOW IS TIME FOR SERVICE
James .. Flnney, Assistant Federal
Food Adninlstrator Of Tennessee,
Addresses FarmSrs' conven-
ton Of West Tennessee.

James l. Finney, Assistant Federal
Food Administrator OF Tennesses,
made An earnest and eloquent defense
Of the Food Administration, declaring
that It's achievement in turning q food
deficit into food surplus was, to date,
Americas greatest contribution to the
cause Of democracy and humanity. Mr..
Ftnney spoke. in part. as follows:
The price Of wheat was fixed at
1920 not to bribe the farmers OF this
nation with dreams Of wealth or to
satiate their avaricisus appetites for
gain, but 1t was fixed at that price be.
cause 1t was believed that 1t would
guarantee them protection against the
speculator and would at least insure
them fair return for their expendi-
ture Of brain and Drawn and capital,
while at the same time giving bread
the great staff OF life, to the millions
Of workers who are not producers Of
food, but whose efforts in the nations
behalf are absolutely essential for it's
existence. The Food Administration
mas sought to deal fairly and justly
between the farmers and the consum-
Crs. II has denied, and ] deny with
all the emphasis at my command that
the farmers OF America ask special IA
vora Of the government; they would
be the first to resent the imputation.
Furthermore. in order to meet the
exigencies OF our allies, there has been
consolidated into one buying agency
the purch1sing power for 100, 0c,o00
OF people, n phenomenon never before
Witnessed in the entire economic his
tory OF the world, for It was obvious
that with shortage Of shipping and
q rationing system in effect through
cut those nations It would not do to
trust the purchasing to the ordinary
agencies of trade. We have furnished
during the past year half Of the food
that has bees consumed by 120,009,0o0
OF people In addition, we have had to
concentrate In one agency the pur-
chase Of food supplies for from 5000
600 to 5,ooO 900 men under arms. 1t
could rot be otherwise, for 1t Ia I'M
thinkable that one agency OF the gov
eminent would be permitted to go into
the markets and bid for the same COM
mcdities in opposition to the other
agencies of the same government. II
Is also equally unthinksble that We
should bid against our allies, when, as
thu president has we'll said, we must
eat at common table
Therefore, that these buying agen-
eiss might not become rivals and get
Into each others way, It has been
necessary to consolidate them under
sne control. Hence. in the final analy.
sis we found ourselves with this most
gigantic monopoly in buying, and nee
essarily with the power either to make
or tremendously influence. prices.
ut is true that IL ia price fixing
after manner never before contem.
plated in the economic history of the
world, and necessarily all our old the
cries OF price fixing through the ope-
ration of the ancient law of supply
aud demand had to go the way OF all
flsrh at least during this great up
ro1vel In such situation 1t was alb
ro'~tely necessary that the govern
ne1t through the Food Administra-
ten, should stabilize prices and fire.
uuentiv exert an influence that
amounted to price fixing. Only the
price Of wheat has actually been arbi-
trarily fixed, but the price Of pork and
Indirectly many other food commodi-
ties has been very greatly Influenced
by this volume Of buying exercised
through one agency.
'sNow the government faced this
It could have purchased
the commodities needed for our allies,
bought tie supplies necessary for the
army and navy in total disregard OF
the rights of our civilian population,
sither Of the consumer or the produc-
or. That would have meant that after
the governments agency had taken
pare of the needs of the allies and our
Military establishment teen the re-
ksinder, an amount under ordinary
admittedly grossly mad
squate. would have gone to the high
sst bidders among our civilian popuea-
ION. This would haze meant conserva-
ion for the rich, t''ose able to offer =
re highest bids; It would have meant
suffering and want among the less for
innate. and 1. would have brought
.bout such an orgy of speculation as
he world had never contemplated.
"The flow of food commodities from
he producer to the consumer Is sea-
lonable. 1t is subject to many yicis-
studies of transportation and weather.
Temporary shortages would have led
o a debauch of speculation, hence the
.bsolute necessity for price stabillza-
ion. We have tried to be fair to our
leroic allies; we have tried to furnish
hem supplies at fair and just price;
,s have tried to be fair to the great
rasses of our civilian population, both
he producer and consumer.
"Ts my mind, tie achievement Of
he Food Administration of the United
'tates during the first year of its ex'
stence. In turning food deficit into
food surplus. to date. Americas
reatsst contribution to the cause of
smocracy and humanity. Although,
d you NIL know, crop failures were
sneral last year throughout the
Ycrthern Hemisphere, America made
he smallest wheat crop it had made In
generation.
"Hasing our consumption on the pre- I
ar basis, we actually had for export
reun our harvest OF 1917 little over
hna GOO hnshals NJ wheat. That