The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-08-09
Full Text of Presidents
H.C.L. Talk to Congress

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inevitably remain. speculative and sway
now this way and again that, with heavy
and the consumer must take care Of both
the gains and the losses. There can be no
peace prices long our whole financial
and economic system L. on q basis.
Europe will not, cannot, recoup her cap
ital or put her restless, distracted peoples
she stands I'm respect of peace. and what
we will do. is for her the chief question
f f Of purpose depend. While there
/ is any possibility that the peace terms
may be changed or may be held long in
/ allegiance may not be enforced because
Of divisions of opinion among the powers
! associated against Germany 1t is idle to
| look for permanent relief
Must Do What We Can at Once.
! But what we can do we should do. and
/ it be. Wheat shipments and credits to
facilitate the purchase OF our wheat can
a way 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
what we hoped it would be, 1t is abundant
IL handled with proYident care. The price
| Of wheat is lower In the United States
than IN Europe and can with proper man
BY way, Of immediate relief surplus
hands OF the government will be sold.
and OF course sold at prices at which
m more nS gtO Correction 4hG Des, 81
plus stocks in private hands viii be drawn
, ont Of storage and put upon the market.
HoardInE win Be Stopped
Fortunately, under the terms Of the Food
| be checked and prevented, and they will
be, with the greatest energy. F0Odstuffs
| legal action which the department of JUS
| tice will institute wherever necessary; but
as soon as the situation is systematically
dealt with IL Is not likely that the courts
will often have to be FesOrted to.
| Much Of the accommodating of stocks has
| no doubt, been due to the sort Of specula-
ton which always results from uneer-
talnty. Great SURPRISES were accumulated
because it was impossible to foresee what
the market would disclose, and dealers
/ were determined to be ready for whatever
might happen, as well as eager to reap the
| full advantage of rising prices. They will
now see the disadvantage of. as well as the
| danger of, holding off from the new pro-
| cess Of distribution.
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 agricuiture' the department
| of labor and the federal trade commission.
They seem to justify the statement that in
| effective means have been found to pre-
vent the normal operation of the law Of
I supply ana demand.
Huge Stocks. Yet Prices Rise.
Disregardhg the surplus stocks in the
hands OF the government, there was a
! greater supply Of foodstuffs in this coun-
same Cd date last year. In the combined total
Of a number Of the most important foods
in dry and cold storage the excess is
quite 10 per cent, and yet prices have
/ risen. The. supply OF FRESH eggs on hand
IN June of this year, foT example, was
| Hun a ST
| year and yet the wholesale price was 40
cents a dozen as against 80 cents year
The stock of frozen fowls had increased
| more than 290 per cent, and yet the price
had risen also, from 341k cents per pound
butter had Increased 100 per cent and the
| price from Il to So cents per pound.
mented 3 per cent and the price had gone
up from $34 a barrel to $50 a barrel. Can
ned corn had increased in stock nearly o.
per cent and had remained substantially
the same I'm price. In few foodstuffs the
prices had declined, but in nothing like the
creased. For example, the stock of canned
I tomatoes had increased 102 per cent and
yet the price had declined only % cents per
dozen cans. In some cases there had been
the usual result of an increase Of price fol-
lowing a decrease Of supply, but in almost
every instance the increase Of price had
been disproportionate to the decrease IN
/ Attorney General VIII Act.
The attorney general has been making
a careful study Of the situation as n whole
and Of the laws that can be applied to bet
ter IT and IS convinced that, under the slim
ulation and temptation of exceptional cir
| eumstanccs, combinations OF producers and
combinations of traders have been formed
for the control of supplies and of prices
which are clearly in restraint Of trade, and
against these prosecutions will be prompt
ly Instituted and activity pushed which will
in all likelihood have prompt corrective
There is reason to believe that the prices
of leather, Of coal. OF lumber and Of tex
tiles have been materially affected by forms
OF concert and cooperation among the pro-
ducers and marketers ~of these and other
universally necessary commodities which
Il will be possible TO redress. No watchful
or energetic effort will be spared to accom-
pfsh this necessary result. ! trust that
prosecution viii be necessary. Public action
haps unwittingiy adopted illegal methods
to abandon them promptly and Of their
own motion.
Publicity Il PrOnteer's Foe.
And publicity can accomplish a great
deal. The purchaser can often care for
fluences he is dealing, with and pur-
chnsers are not disinciined to do any
mag be f neeessaag for their self pro ase
ton. The department Of commerce, the
, department OF agriculture. the depart
ment OF labor and the federal trade COM
mission can do a great deal towards sup
plying the public, systematically and at
ing the actual supply of particular COM
modlties that is in existence and available
with regard to supplies which are In ex-
tstence but not available because of hoard
. ing, and with regard to the methods OF
price fixing which are being used by deal
ers In certain food-stuffs and other ne
! cessaries.
There can be little doubt that retailers
arc in part-sometimes in large part--re-
|, sponsible for exOrbitant prices; and IL Is
! quite practicable for the government, thru
the agencies 1 have mentioned, to supply
i the public with full information as to the
prices Mt which retailers buy and as to thu
costs Of transportation they paid, in order
that IL may be known just what margin
of profit they demanding. Opinion
and concerted action on the part Of puK-
ehasers can probably do tho rest.
Congress Must Supply Funds.
| That Is, those agencies may perform