The Bridgeport times and evening farmer., 1919-08-09

toned crops from their own fields, foreign mines resume their former output, foreign merchants set up again their old machinery of trade with the ends of the earth.
 All these things must remain un- certain until peace is established and the nations of the world have con- certed the methods by which normal life and industry are to be restored. All that we shall do, in the meantime, to restrain prof1teering and put the life of our people upon tolerable footing will be makeshift and pro- visional.
 There can be no settled conditions here or elsewhere until the treaty of peace is out of the way and the work of liquidating the war has become
 the chief concern of our government and of the other governments of the world. Until then business will inev- itably remain speculative and sway now this way and again that, with heavy losses or heavy gains as it may chance, and the consumer must take care of both the gains and the losses There can be no peace prices so long as our whole financial and economic system is on a war basis.
 Europe will not, cannot recoup her capital or put her restless, distracted peoples to work until she knows ex- actly where she stands in respect of peace; and what we will do Is for her the chief question upon which her quietude of mind and confidence of purpose depend. While there is a14J possibility that the peace terms may be changed or may be held long in abeyance or may not be enforced be- cause of divisions of opinion among the Powers associated against Ger many it is idle to look for permanent relief.
 But what we can do we should do, and should do at once. And there Is a great deal that we can do, provls- ionaI though it be. Wheat shipments and credits to facilitate the purchase of our wheat can and will be limited and controlled in such a way as not to raise but rather to lower the price of flour here. The Government has the power, within certain limits. to regulate that.
 We cannot deny wheat to foreign peoples who are in dire need of it, and we do not wish to do so; but for tunately, though the wheat crop is not what we hoped it would be. it is abundant if handled with provident care. The price of wheat is lower 1 in the United States than in Europe
 and can with proper management be kept so.
 By way of immediate relief, sur plus stocks of both food and cloth ing in the hands of the government 1 will be sold, and. of course, sold at l prices at which there is no profit l And by way of more permanent i correction of prices surplus stocks in
 private hands will be drawn out of i storage and put upon the market l Fortunately, under the terms of the ] food control act the hoarding of food
 stuffs can be checked and prevented; i; ] and they will be, with the greatest l energy.
 l Foodstuffs can be drawn out of
 storage and sold by legal action which | the Department of Justice will inst1- | tute wherever necessary; but so soon | as the situation is systematically dealt | with it is not likely that the courts | will often have to be resorted to. l Much of the accommodating of stocks 1 has no doubt been due to the sort of 1 speculation which always results from | uncertainty. Great surpluses were l accumulated because it was impossi- l ble to foresee what the market | would disclose and dealers were de-
  | might happen, as well as eager to
 reap the full advantage of rising | prices. They will now see the disad-
 vantage, as well as the danger, of l holding off from the new process of | distribution.
 l Some very interesting and signifi- ] cant facts with regard to stocks on
 hand and the rise of prices in the
 face of abundance have been disclosed
 by the inquiries of the Department of Agriculture, the Department of Labor and the Federal Trade Commission.
 They seem to justify the statement i that in the case of many necessary f commodities effective means have 1 been found to prevent the normal operation of the law of supply and i demand.
 1 Disregarding the surplus stocks in the hands of the Government, there was a greater supply of focdstuffs In 1 this country on June 1 of this year than at the same date last year. In
 the combined total of a number of 1 the most important foods in dry and
 cold storage the excess is quite 9 per | cent. And yet prices nave risen. l The supply of fresh eggs on hand l in June of this year, for example, was greater by nearly 10 per cent. 1 than the supply on hand at the same
 
 time last year, and yet the wholesale price was 40 cents a dozen as against 1 30 cents year ago.
 l The stock of frozen fowls had in l creased more than z98 per cent, and yet the price had risen also, from 34 F cents per pound to STA cents. The
 supply of creamery butter had in
 creased 12s per cent. and the price from 41 to 53 cents per pound. l oF l ausmented 8 per cent. and the price
 had gone up from ss4 a barrel to sse
 a. barrel. CannedI corn had increas- | ed in stock nearly s2 per cent and had remained substantially the same in price. In a few foodstuffs the prices had declined, but in nothing
 like the proportion in which the sup i ply had increased.
 For example, the stock of canned i tomatoes had increased 1o2 per cent. and yet the price had declined only a5 cepts ner dozen cans. In some