The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1919-06-27
GUARANTEED WHEAT PRICE.

wheat director of the United States,
with the aid of q miller's committee,
for carrying into effect the govern
ment's guaranteed wheat price to pro.
ducers Is a simple one. 1t is much
more 80 than had been expected The
plan seems to be easily understood
and Is a tribute to the understanding
aud comprehension OF Mr.. Barnes.
His selection for the, tremendously
important place he holds could not
have, been improved upon. He holds.
to an exceptional degree the conf
dence of the millers and grain deal.
ers of the country, and he can be de-;
pended upon to give the farmers a
square deal. Next to Herbert Hoover
be Is by long odds the ablest man
brought into public service by the
Fpod Administration.
In brief the Barnes plan simply re.
auires the licensees of the Food Ad-
ADMINISTRATION, and all millers must be
licensed to do business, to buy at the
.fairtprice' established, which is bas-
ed on No. / wheat at certain prima.
ry4points. Buyers at distance from
these primary points must buy on the
basis of the most favorable price to
the producer. That Is the local miller
must base his paying price on the
pDrt or primary point where he can
sell at the best figure. New Orleans
has the best rate from this county so
that the local buyers must base their
price on that port. No. wheat sell
ing at 1927 New Orleans is the basis.
From this the buyer is allowed to de-
duct the freight of eighteen cents a
bushel and a reasonable" carrying
charge, which will be locally four
cents, making wheat that grades No.
q worth to the producer in Maury
county approximately $2.O5 bushel.
y 1t is by no means assured that
the grain corporation, which will be
and must be the ultimate buyer of the
huge surplus grown in the United
States, will be able to dispose Of 1t
at ooat price. IA other, words it is not
Improbable that the worlds market
Oh wheat will be under the govern
ment's guarantee. Hence it is nee
essary to protect licensees who must
pay the guaranteed price. To do this
the Food Administration Grain Cor
poration agrees to make good any loss
esthat the buyers OF wheat (licensees)
may sustain by virtue Of market price
from "resales" that may be made by
gveornmeht agencies. In other words
should the grain corporation find it
necessary to dispose of a consign-
ment OF whoat or it's products on a
vaulation of say 81 bushel it must
make good between this price and the
fair price to licensees on whatever
stocks Of wheat or its products they
may at that time have on hand. or
course the government does not guar
antee.. the millers or other licensees
against any loss that may be sustain
sdsbecause of a reduction in price OF
wheat, or its products that they may
bring about through competition. This
guarantee against loss applies only
when the Grain Corporation through
Its sales has produced lower market
price.
/, In order that settlements may be
fairly and honestly made, in the event
otethe contingency here suggested. 1t
is necessary for the licensee
to keep accurate records and
make reports, full and complete at
stated intervals. The nation has been
divided into zones after the manner
OF the federal reserve system, for the
administration of the affairs of the
Grain Corporation. Local millers will
report to ST. Louis, where Bert Fl.
Lang, another miller of ability who
served the Food Administration dur
Ing the war with fidelity and ability,
Is in charge.
Millers are not entitled to the dock
age on wheat unless it exceeds one
per cent, Every effort is being made
to safeguard the rights of the produc-
efs against the Vaccinations of un-
scrupulous buyers. This is as it
should be. The guaranteed wheat
price was made for the sole benefit of
the producer who took every risk in
producing the crop and he is entitled
to all the benefits
Under the Barnes plan If the gov
eminent should force lower market
by reason of it's resales of wheat or
It's products the millers must
reflect the reduction in the sale price
that they place on their products. In
other words the miller will not be,
permitted to accept reimbursement
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