New-York tribune., 1919-01-23
Produce Exchange Asks
President to Remove
Food Restrictions

Urging the necessity Of a reduction
IN the cost of living, the New York
Produce Exchange has formally ap-
pealed to President Wilson for an early
removal Of the present Federal restcic-
tions upon foodstuffs. Resolutions
adopted by unanimous vote of the ex-
change members yesterday declare that
the war being over. values and prices
OF foodstutfs should be allowed to take
their own course as regulated by the
normal laws of supply and demand.
julius Barnes, head of the United
States Grain Export Corporation, is ex-
pected to return next week from Eu-
rope, where he has been canvassing the
food situation with Herbert Hoover,
Aliied rood Commissioner, and it is
Delieved that the matter of a possible
removal or modification of restrictions
Will be referred to him.
Points in Resolutions
The resolutions adopted by the Prod
uce Exchange say in part:
The New York Produce Exchange
nefeDy earnestly appeals to the Presi-
dent Of the United States to take
prompt action to- remove the restric-
.ons mplained OF and to discontinue
inc price-hxing as now applied to hogs
grain and other foodstuffs. to the end
mat prices may return to their normal
and natural bases, controlled only by
conditions of supply and demand, and
~ BRING about a material and necessary
1eductlon IN the cost of living now
bearing so heavily upon the mass of
our people, such reduction in living ex-
penses being especially called for in
'nis period of reconstruction and re-
Eu1lcfnnEnt har
considerable discharge of labor, or at
!east reduction of wages, to meet dimin-
isned demands incident to stoppage of
tne intense and abnormal war actiyi-
ties.
For Equitable Adjustment
in cases where the government is
obligated either by law or BY agree
ments entered into in good faith to
maintain prices, we are in favor of an
honorable fulfilment on the part of the
government Of such obligations up to-
.ne present time, but not beyond, and
mat sucn obligations should be at once
terminated or cancelled, and that Just
and equitable adjustment should be
made 10 provide for any actual bona
noe loss accrung under such agree
mehts, believing that such a course
, would be wiser and economically safer,
az well az more just and equitable,
NAN TO maintain the prices at q high
and artificial level to the benefit Of
spout 30 per cent producers against
ABOUT 10 per cent consumers. who are
gov suffering from the high cost Of
n'ing, which we believe is not justified
Dy the actual conditions of supply and
uemand now existing. We firmly be-
heye that the longer present artificial
yilee levels are maintained the worse
sne loss will be from the ultimate price
Isaolustment, which must inevitably
e"me, sooner or later"
Would Retain Wheat Plan
IN view Of the fact that many dealers
'R hour have been selling that com
iaodity in the belief that an early drop
~ prices Is impending, the members
VI The Produce Exchange have re-
scested the food administration to is-
sae statement assuring the trade that
: Tar as IL is in it's power the pres
~ metnod of handling the 1913 wheat
:. Up and prices will not be changed
=. - "ss asserted by members of the ex-
~nanse tnat Il state of decentralization
s.lxIsts IN the -four trade al result OF
,a ,"s uncertainty over what the food ad-
..~'..n'ssfation IL going to do with the
Ean Essas ana hour in itg possession. II Is
yrfys fysn tnat statement from the ad-
@,nnissfation will clarity the situation.
On ,he return Of Mr.. Barnes from
vii sssyps ~ 10 expected an announcement
h.s hn Ds made Of the tentative plans that
@s Dsen laid for feeding Europe as
Issuit Of the survey made by Mr..
Hooysf and Mr. Barnes.
Foreign Grain Held I'm
a, hsrs ~ little immediate possibility
1iss. nustralisn and Argentine grain sup.
~. nguring in an important way In
"a .ofid market, 1t was stated at the
49, Sss - oI the United States Grain TX
- - corporation, Lack Of available
ss 70 esrry Argentine corn and