The Miller press. [volume] (Miller, S.D.) 190?-current, 1920-10-21
BIG PRICE DROP
EFFECTS FARMERS
American Farm Bureau Grain Com
mittee Of Seventeen TO Make
Report

cities just now over the general smash
in prices. 1t is said that we are at
last on the high road back to pre-war
condhtions-or, as 1t Is most frequent
ly put, getting back to normal With
reference to the recent smash in the
grain market, however. we desire to
sound a note of profound warning lest
in our zeal to get back to normal" we
deliberately invite other ills more
| serious than those from which We
now suffer for to be able TO buy
bread and meat at a rather high price
is better than not to be able to buy
enough of them at any price.
Contrary to popular opinion I'm the
cities, farmers did nor, as a class
make money out OF the war period.
On the contrary, during a large por-
ton of that period they actually lost
money both i'm production OF grain and
livestock and il there are those who
doubt this statement. let them consult
the income tax returns OF the last
several years. Therefore, the farmer
was in no particularly happy frame
Of mind when the recent raids on the
grain market began. Speaking of
wheat specifically, some weeks ago a
responsible committee of growers rep
resenting the wheat producers OF
Kansas, Nebraska, Oklahoma and Mis-
souri, estimated that taking the aver
age yearly yield OF wheat during the
LIST ten years, il cost the farmer ap-
proximateIy S2.77 per bushel to pro-
duce the 1920 and when this produc-
ton cost is compared to the unfair
price which the manipulators Of the
grain market have brought about dur
ing the recent days. one can easily
imagine how the farmer feels about
it.
Furthermore, hundreds OF country
elevators, are at this moment filled
with wheat purchased on the higher
markets of q month or six weeks ago
and because of the car shortage II
was impossible to get this wheat to
market. II is not an exaggeration to
Say that IL the present price OF wheat
is maintained the working capital OF
many of these elevators will be swept
completely away. and yet despite these
distressing conditions an ex-president
of the Chicago Board of Trade was
quoted by the Press some days ago
as having boosted that the various
| Boards of Trade deserved a great deal
of credit for having brought down the
high cost of living because they had
| forced down the price of grain. And
to all such gentlemen we desire mere
" TO say, 'You may be able to so
manipulate your Boards of Trade and
thus force a loss running into millions
| against the wheat producers OF the
United States this year-but n the
farmers is so hard hit financially that
next year and the year thereafter he
will be unable to keep food production
ND to the Nations requirements and
# the thereby the cost of bread Is
forced much higher, the consuming
public will realize that IL traded OF its
birthright for a mess Of pottage. In
a recent address delivered by Mr..
Herbert Hoover to the National Bank
ers' Association at Atlantic City, he
made the statement that ON the basis
of the market price of wheat two
weeks ago, the farmer only received
3 cents put of The IL cents which the
consumer pays for a loaf OF bread.
The public can therefore form Its own
conclusion as to whether or not the
wheat grower is a profiteer.
And the same general facts apply
to livestock, for never were the pas
lures and feed lots OF the country as
empty as now-and again the answer
Is that the farmer is tired OF produc-
ing hogs and cattle at a loss. II, az
certain gentlemen profess to believe
the farmer is getting rich" then why
the fast diminishing receipts OF prime
hogs and cattle at the leading stock
yards?
The public must not forget that the
production costs Of the wheat, corn
hogs and cattle which the farmer haf
on hand at this time were fixed by the
conditions Of the past and that ht
cannot accept losses running into thu
hundreds OF millions without a shocl
to Agriculture from which It will MOI
soon recover--and IL in the face o.
such conditions and as q matter OF sci
preservation the farmer permits hi
fields 10 lie idle and his feed lots 4
become still more empty, the people
will be compelled to pay dearly TO-
the blind folly Of those who are try
Ing to cure IN the space OF Q few shor
months. conditions which began form