The sun., 1919-03-10
HOOVER SEES NO
US. WHEATLOSS
Says Billion Guarantee to Pay
Farmers 1926 Is Likely
to Be Made Up.
PRICE MAY GO TO $3.50
Food Controller Opposed Gov
ernment Pledge, but Asserts
1t Helped Win War.

PARIS March 9.-Herbert c. Hoover,
United States Food Administrator,
asked here to-day whether the United
States Government would lose the
billion dollars appropriated to support
the guarantee for next years wheat
crop. said:
The question of Government loss, II
any, will revolve around several diff
ferent factors-first, whether we or the
world will have any surplus from the
1915 crop to carry over into this year;
second what the supply and demand
will be for the 1919 crop and third
whether the Government should delib-
erately decide to take a loss in order
to lower the price OF bread.
AS to the supply and demand for the
1915 crop, changes in the world demand
during the last month, shown by wide
spread investigation of the food needs OF
Europe, indicate that there will be no
surplus TO carry over into the 1919
crop. The Indian famine has proved so
serious that large part Of the Austria
liam wheat must 60 there at once. In
addition. considerable proportion OF the
up for years has spoiled.
Europe's Needs Above Estimated.
The needs OF Europe are larger than
our previous estimates. Altogether the
balance OF the supply and demand for
our present wheat now looks as though
we might see wheat at $3.50 a bushel, as
II was in the spring OF 1917, II there is
a free market in wheat and uncontrolled
9 ri Sn fn he
There can be no free market OF 90
per cent. of the worlds exports. Wheat
is controlled by the wheat executive N
London.
"As TO the 1919 crop, it is of course
too early to come to any precise con-
clusion. Our crop looks anything from
10 TO 20 per cent. greater than last year.
Before the war Russia, India. Bulgaria.
Serbia and Rumania all exported large
| amounts of wheat. The war famine.
loss of seed. lack OF fertilizers and an
archy have turned these countries into
| importers OF wheat for the whole of next
year.
Central European seeding will be be-
| low normal. The Australian 1919 crop
is small; the Argentine crop is no larger
han that OF Europe. Altogether II
would appear now that there would be no
! bread to waste In any quarter Of the
world for the next year. even il the
world had the money TO pay for It and
il the Bolsheviki did not get more ter
| rltory.
Therefore, to all present appearances
| IL should he possible to market the whole
| Of next years crop without loss TO the
! Government. - -
! Loss Depends on OmciAIs.
"As TO whether the Government will
! deliberately take loss below the price
Of S2.26 a bushel in order to lower the
price of bread is a matter that will have
to be determined by the officials OF tho
day. 1t appears 10 me that the worlt
price OF wheat, II there is q free market
may be above $226, and in any even
such a loss would be a direct subtraction
from bread prices, just as II is now pait
I in most of the European countries
, There are very great technical dlficul
ties In the way of such procedure in tn,
! United States"
Asked concerning certain criticisms
I arising from the Government havinl
fixed the price of wheat. Mr.. Hoover sal,
, he originally opposed the fixing OF tn,
price and afterward on every occasion
when Congress endeavored 10 raise IN,
price. He added that he considere,
then, and also did now, that the worl,
situation required a stimulation to pro
| duction by guarantees to farmers, hu
that he was anxious to have the matte
left to the Administration, He recon-
mended that the guarantee should h.
placed on the basis OF so much an acr
Of wheat planted, he said
Had this course been followed. NJ
Hoover continued. the Govcrnmcn
would have known precisely rs lahN
ity at all times and could have re
leased wheat at prices to be detcrmme,
by the law of supply md demand, If r.
We're at any time considered advisable
The courage which the large Ameri
can production gave 10 Europe was on,
OF the contributing factors which wor
the war, II the present outlook con
tinues the world may be as slatefu
for the billion hushel wheat crop o
next year az it has been for our 800,
900 600 Crop last YEAR