Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-04-08
THE GOVERNMENT FOOD TRUST

Famine Prices in Food in Spite OF
an parable Wheat Supply
Medieval Economies and Political
Bediam
(From the New York Evening SUM
Last week tn, Government reports
from $4,000 elevators. warehouses
grain mills and wholesale firms
showed for early March three times
as large stocks Of wheat in their
hands as there we're the the year De-
fore. This. moreover. took no ac-
count Of the big quantities OF wheat
held on the farms. .
Mr.. julius H. Barnes. president OF
the Grain Corporation OF the Fooo
Administration, cannot understand
why the farmers should not send
their stores to market at the present
high prices-higher, in some IN
stances. by 90 cents, go cents and
even 40 cents a bushel than the Gov
eminent price. He cannot under
stand why the farmers should hold
back when an avalanche of new
wheat is to come down upon the Am
erican markets within the next nine
ty days.
Bat the explanation IS simple
enough. The Government Food
Trust itself is responsible. The Am
erican farmer knows that he is go
ing to get at least the Government
price anyhow. whether he sends IN
1 his wheat today or next month, OF
any time within the 1919 wheat seas
on. The American farmer, more
over. is a pretty good sport. Assured
that he isn't going to the poorhouse
in any event, because OF the Gov
ernment's guarantee. -.e Will take
reasonable chance to be able to slip
in his wheat some time between no"
and the arrival of the new crop, at a
fabulous price which may be created
by the wild prediction of $3.50 wheat
: by Mr.. Hoover the head OF the Gov
eminent Food Trust.
! How Prices Are lacked Up
7. is the Government Food Trust
and nothing else which has encour-
, aged the farmers to hold back their
I 1915 wheat. just as it is the Govern
ment Food Trust and nothing else
which, with its lacking up OF wheat
prices to the public regardless OF an
over-abundant supply. has sent up
the prices Of corn and Of other grains
| has sent up the prices of pork.
when there are more hog products
in the storehouses and more hogs
| on the hoof than this country ever
| had before or ever dreamed Of hav-
ing.
This week the preliminary esti-
mates indicate that the government
official report due next week will
| forecast a winter wheat crop of from
I $50 ocn, coo to 800. 600. 900 bushels.
Think of winter wheat crop in
round numbers of nine hundred mil
lion bushels.
This is more than the bumper win
ter and spring crops put together in
1914, when in the early summer be-
! fore the world war broke out Ameri-
can wheat was begging for buyers at
20 and so cents hushel.
Prospect Of Wheat to Burn
This estimated winter wheat crop
alone of 900. G00.O10 bushels in 1919 is
| nearly SEQ. 600. COCO bushels more than
our combined winter and spring
! wheat crop in 1917. And with win
| ter wheat crop i'll sight of 9g0, co.,
600 bushels. there is still to come -l,e
spring crop just now going into the
, soil in tens of millions of acres
throughout the United States and in
millions more or acres throughout
Canada.
If the increase Of spring wheat
! aaeage IS anything ike the increase
of winter wheat acreage. if the crop
now planting gives anything like the
promise of the winter wheat now
sprCutirg. there will be not merely
crop this year of LOO, COCO BUSH
els as we were all acclaiming a few
weeks ago. There Will be a crop sure
y Of 1900 900. 000.Gc0 bushels There
may be crop possibly well beyond
a billion and q quarter of bushels
Squeezing the Consumer
Yet. with .s00.o00.000 bushels of
winter wheat right on the heels OF
our carry-over. and with some three
hundred millions. perhaps four hun
dred millions of bushels of spring
wheat colse behind those 5000, 900
bushels of winter wheat-with, in
fact. sure surplus supply ahead of
| half billion bushels. with a possible
supply of three-quarters of a billion
bushels more than the normal con-
Stunning power OF our country-with
wheat. in Il word, an incompatible
glut on our market. the Government
Food Trust still insists on making
the American consumer pay war
famine prices.
The Government Food Trust still
continues. by holding up the price of
wheat. to jack up the cost Of all
food TO American consumers The
Government Food Trust, marking in
to wheat a price twice its natural
value at time of unprecedented
supply. drives up corn and other
grains. and. driving up those grains,
drives up the cost of beef and NUT
ton and pork. OF poultry and eggs. of
milk and butter and cheese.
= Merely to Save It's Face
w this ear OF bursting graneries.
of superintendent breadstuffs of all
kinds. Of national plenty. the Govern
ment Food Trus;. to save its face in
the matter of its wheat guarantee to
the farmer. will cost the American
consumers billions OF dollars which,
under the free workings of the law
of supply and demand. they never
would have to pay for their bread
and meat: which. under the law of
common sense. they never would be
permitted 20 pay. but which. under
an administrative policy OF the dark