The daily banner. (Cambridge, Md.) 1897-2008, 1918-07-15
PRESIDENT VETOES
HIGHER PRICED WHEAT
Gives Reasons For Doing so i'll Mes
sage Accompanying Veto-Balti-
more Grain Dealers Approve Ac-
ton of The President.

ton of The President.
Washington, July 13.-President
Wilson Yesterday sent to the House
his third veto message in ten days.
He disapproved the bill carrying the
annual appropriation of the Depart
ment OF Agriculture because 1t con-
tanned a proviso fixing the minimum
price of wheat at $2.4O hushel for
this years crop. The Presidents
message was:
To the House of Representatives
regret to return without my sig
nature so important measure as II.
R. 9054, entitled AN Act Making
Appropriations for the Department
of Agriculture for the Fiscal Year
Ending June 80, 1919" but ! feel
constrained to do so because OF my
very earnest dissent from the point
of view of principle as well as OF
wise expediency from the provision
of that part of Section IA which pre-
scribes a uniform minimum price for
No. Northern Spring wheat OF
$240 per bushel
l dissent upon principle because l
believe that such inelastic legislative
price provisions are insusceptibie OF
being administered in way that will
be advantageous either to the pro-
ducer or to the consumer, establish
ing as they do arbitrary levels which
are quite independent of the normal
market conditions, and because | be-
lieve that the present methodg of
regulating by conference with all
concerned has resulted in the most
satisfactory manner, considering the
complexity and variety of the sub
ject matter dealt with.
1t is evident that the present
method Of determining the price to
be paid for wheat has had the most
stimulating effect upon production,
the estimated crop of Spring wheat
for this year exceeding all high rec
ords in a very remarkable and graft
flying way BY an overwhelming ma
jority of the farmers of the United
States the price Enthusiastically fix
ed has been regarded as fair and lib
eral, and objections to it have come
only from those sections of the
country where, unfortunately, it has
in recent years proved impossible, to
depend upon climatic conditions to
produce a full crop of wheat and
where, therefore, many disappoint-
ments to the farmer have proved to
be unavoidable.
Personally, / do not believe at
-e4rv-frr.- J-uCPcHo
their utmost to serve the nation and
the world at this time of crisis by ex-
erting themselves to an extraordi-
nary degree to produce the largest
and best crops possible. Their pa
triotic spirit in this matter has been
worthy of all praise and has shown
them playing Il most admirable and
gratifying part in the full mobiliza-
ton of the resources of the country.
To a very greatly increased produc-
tion of wheat they have added an in
creased production of almost every
other important grain, so that our
granaries. are likely to overflow, and
the anxiety of the nations arrayed
against Germany with regard to
their food supplies has been relieved.
The administrative method OF
agreeing upon a fair price has this
very great advantage which any ele-
ment of rigidity would in large part
destroy, namely, the advantage OF
fiexibility, of rendering possible at
every stage and in the view Of every
change of experience a readjustment
which will be fair alike to producer
and consumer.
A fixed minimum price OF $2.40
per bushel would, it is estimated add
50 per barrel to the price OF f1our;in
other words, raise the price of flour
from the present price of $10.5O at
the mill to $3.50 at the mill, and.
inasmuch as we are anticipating
crop of approximately 100000
bushels of wheat, this increase would
be equivalent to the immense sum of
S3S7,000,000.
Such an increase of the price of
wheat in the United States would
force a corresponding increase in the
price of Canadian wheat. The allied
Governments would, of course, be
obliged to make all of their pur-
chases at the increased figure, and
the whole scale of their financial OPP
erations in this country, in which
the Government of the United States
is directly assisting, would be there
by correspondence enlarged. The
increase would also add very ma
terially to the cost of living, and
there would inevitably ensue an in
crease in the wages paid in practi-
cally every industry in the country.
These added financial and economic
difficulties affecting practically the
whole world cannot, l assume, have
been in contemplation by the Con-
gress in passing this legislation.
WOODROW WILSON.
Baltimore Grain Men Approve.
| Baltimore grain dealers were not
surprised that President Wilson We
toed the bill carrying price of