The Washington herald., 1918-07-13
WILSON SENDS VETO
OF BILL FIXING $2.40
AS PRICE OF WHEAT
CONTINUED FROM PAGE ONE

CONTINUED FROM PAGE ONE
normal market conditions, and be-
cause / believe that the present meth
cd of regulating by conference with
all concerned has resulted in the
most satisfactory manner. consider
ing the complexity and variety Of the
subject-matter dealt with.
Production Stimulated.
at is evident that the present meth
cd 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 satis-
flying way. By an overwhelming ma
jority of the farmers of the United
States the price administratively flied
has been regarded as fair and lib
eral, and objections to it have come
only from those sections of the coun-
try where, unfortunately, it has in
recent yearJ proved impossible 10
depend upon climatic conditions 20
produce a full crop of wheat and
where, therefore, many disappoint-
ments to the farmer have proved to
be unavoidable
Personally. I do not believe that
the farmers of the country depend up
on the stimulation OF price to do their
utmost to serve the nation and the
world at this time OF crisis by exertine
themselves to an extraordinary degree
TO produce the largest and best crops
possible. Their patriotic spirit in this
matter has been worthy of all praise
and has shown them playing q most
admirable and gratifying part in the
full mobilization Of the resources OF
the country. To a very greatly in
creased production OF wheat they have
added an increased production OF al
most every other important grain, so
that our granaries are likely to over
flow, and the anxiety of the nations
arrayed against Germany with regard
to their food supplies has been re-
lieved.
FIexibilIty Needed.
1.-THE administrative method Of agree
ing upon a fair price has this very
great advantage which any element
Of rigidity would I'm large part de-
stroy, namely, the advantage OF flexi-
bility. 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 $40
per bushel would. it is estimated.
add 50 per barrel to the price of
-four; in other words, raise the price
of -four from the present price of
s10.50 at the mill to s12.5o at the
mill. and inasmuch as we are anti
cipating a crop, of approximately
900. O06, 900 bushels of wheat, this in
crease would be equivalent to the
immense sum of s3s7. 200. 900.
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
operations in this country. in which
the government of the United States
is directly assisting, would be there
by correspondingly 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 tho country.
These added financial and economic
difficulties. affecting practically the
whole world. cannot. I assume. have
been in contemplation by the Con-
.gress in passing this legislation."