The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-03-11
Hoover's $3.50 Wheat With Enough
OF 1t to Burn.

|
ment was ever uttered by babbling
tongue than Mr.. HoovER's that if,
here in the United States. there
should be an open market in wheat.
working under the law of supply and
demand, 1--WE might see wheat $3.50
bushel as it was In the spring Of
1917"
Although Mr.. HOOVER is the head OF
our Government Food Trust he may
know nothing at all about the funda-
mental principles of supply and de-
mand; he may know nothing at all
about what, by the laws of nature.
makes q high price or low price
but at least it is incredible that Mr..
HooIrR has never heard of the differ
enas between the wheat situation in
the year 1917 and the wheat situa tion
in the year 1919.
II Mr.. Hoover knows anything at
all about the history OF wheat he must
know that in the spring of 1917 this
country had just come through one
Of the worst wheat years, one of the
lowest crops, it had experienced in a
long time. Our wheat crop of 1916
had Ueen only 63G. 100000 bushels.
That quantity was not a great deal
in excess of the requirements Of our
own home consumers. Mr.. HOOVER
must know, If he knows anything at
all about wheat history, that in the
spring of 1917 this country was fac
ing another disastrously bad whea
year. with an estimated crop of only
650,00n,OOO bushels.
Nor was that all. With Europe
crying out to the rest of the world for
breadstuffs because the physical ener-
giei and efforts of Europe's man
power were being expended no longer
in the grain fields, but on the battle
fields, there was no available shipping
to transport the surplus wheat OF Ar
gentina, Australia and India. There
was scarcely available shipping to
transport the relatively small surplus
wheat of Canada. So, with the sur.
plus stocks of Argentina, Australia
and india locked up in their grana-
RIGS for lack of bottoms TO freight
those stores, the Allies were bidding.
urgently, anxiously. desperately, for
some of our expected 650,O0O 400
bushels of wheat-a poor enough sup
ply for even our own people.
In the spring of 1917, when there
was scarcely any too much wheat in
this country for ourselves and when
hundreds of millions of human beings
in Europe were demanding some of II,
the wonder is that our wheat could be
had for export at any price.
But Mr.. Hca"GR must &no~ II haI
knows anything at all about wheat,
that we are just now closing I'D
great wheat season, whose crop OF
1918 was 92OOO0,0OO bushels. as
against the measrc 636, 100000 bush
els of 1916.
Mr.. HOOVER must know, II he knows
anything at all about wheat, that we
are just now facing n gorgeous wheat
season with an estimated crop in 1919
Of at least 100000, 900 bushels. prob.
ably 1,2Oo,OOO,0Oo bushels possibly / =.
250,000,O00 bushels. Canada likewise
Is now facing a relative overabun.
dance of supply.
And after those years of war the
surplus stocks OF Argentina and OF
Australia are at last open 10 the !
world. TO carry their wheat to carry
Canada's wheat, to carry our wheat. |
to carry the wheat OF any country
anywhere on the face of the globe that
raises more than 1t needs, millions of
tons OF old shipping have been re-
turned from war uses 10 peace uses
Millions Of tons of now shipping are
afloat Wherever it may be any ex- !
port wheat may now 20 TO market.
Yet this time the trouble may hc de- |
mand. Let the wheat crop of India |
he blasted; forget the wheat of Aus
tralia; forget the wheat OF Argentina 4:
forget the wheat even OF Canada, and