Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-09-03
HOOVER PUTS BLAME
FOR \. c. Of |. ONTO
FOOD SPECTATORS.
SAYS GAMBLERS ARE RESPONSE
BILE FOR RISING COSTS, DESPITE
oVERPRoDUcTlO IN THIS
+ COUNTRY.


Paris, Sept IA distressing era Of
speculation in foodstuiis in the United
States and throughout the world Is pri-
mary markets is largely responsible
tor high food costs, in the opinion Of
Herbert Hoover, chairman of the IN
ter-allied relief organization who, oh
the eve Of his departure for he nitcd
States, granted the Associated Press
an interview.
Wharves and warehouses in north
eIn European ports are oyeriioWinE
with foodstutfs, principally meats, fats
and dairy products, sent by merchant
all over the world, Mr. Hoover SAID.
These merchants, he declared had
gMbled' on sales in Poland Czechc-
-Iota .Na, the Baltic states and Ger
u at high prices, hut these states
uaer only deprecated local currency
ana many commodities are in danger
of spelling. as the central European
market for foodstutls is limited 70 the
ability Of the peoples to buy on credit /
Responding TO an INJURY AS 10
how food speculation could be checked /
III America, Mr.. Hoover replied
"Attorncy General A. Mitchell Pal. .
1ner is On the right track when he en-. 4
deay DIS 10 break down speculation !
and seeks powers never possessed by /
former administrative to enable him /
to accomplish this step. The situd-j
ton is one hat may we'll cause anX-
iety also from another point Of view
We are now coming into a flood OF
production Of fOodstuf1S in the north.
en hemisphere and will again have a
great surplus in the United States T..
in the meantime. Europe has not
found credits to purchase the c0miu@
win ers supplies, we are likely 10 have
IA glut and prices may fall below the
cost Of production TO American farm.
ere.
The present high prices Of food are
not due to 0vereXportS to Europe from
the United States during the past
year. That can be demonstrated hy
the fac that We enter new harvest
with larger stocks of previous year,
production that at this time last year.
Yet prices are very much higher. ii
We are to account for the high price
level on the basis of overexports 40
would have to find a depletion of our
national seeks"
NJ. Hoover pointed out that Che
problems involved in the speculative
wave We're very difficult to deal with.
because il was worldwide and not cor.
fined TO the United States.
The law Of supply and demand" he
continued, is not working normally.
While prospective food supplies for
the next twelve months are equal to
the apparent need, unstable political /
situations, recurring shortage If !
ahll ping, shortage of credit and \ {
combination of either buyers or sellers
VIII tend 10 create great speculative G
wave and may initiate prices to a )
point uncomfortable to the consumer. or
in she reverse situation uncomfortable a
to the farmer u
We Will have a large surplus neyt 4
year and must have a prosperous farm. >
ing community If We are TO have the
world led in the future and maintain !
stability at home and abroad.
Recommends Big Credits.
Par4s, sept 3,-Appearing before
the subcommittee Of the congress fonal (
committee on war expenditures. Her. r
bert Have, director general of inter v
allied relief said he believed il i'm n
perative for the United states 10 OK
tend to Europe credits of from $4,000. b
OtU, TO $1,000 900 600 for a wear and =
half or two years in order to pro. h
vide market for the American sur. Il
plus and save Europe from disaster n
Paris dispatch on Sept / said Il
MI HLJNcr's appearance before tie
congl cssonal committee would be ON c
his own request and that hi. tc-n
inony would be taken as a matter of
record, Mr. Hoover, il is said, In yiey,
OF alleged inaccuracies in evidence adj.
duced Ne'ore congressional commit.
in the United States and also he
"r@ nc subcommittee with regard 70
~" food situation. desired an omar. A
u.y to correct them. r
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