The Barre daily times. (Barre, Vt.) 1897-1959, 1920-03-19
Advisers Who Need Advice.

In the sugar investigation in Con-
! gress the fact was brought out by Sen
ator MeNary that in August and Sep.
TENDER sugar was selling in Cuba for
6h cents pound; that five weeks ago
| the crop could have been bought for
| 1914 cents a pound, but that since
| then spectators have been buying
sugar of the new crop on the basis Of
1874 cents "a pound. Commenting on
| this, Senator Pomerene said: 1.-THE net
| result of the delay in the purchase by
| this government of Cuban sugar has
been an increase of four cents a pound
against the American consumer" and
| he added: II want to observe for the
benefit of the Senate that this ia evil
dence of the fact that by adhering to
the advice of professional economist
sugar is going TO cost the American
people four cents a pound more than 1t
would have cost. II some of the pro-
fessional economists would take a
course in practical business common
sense it would be an excellent thing
for the public purse
Senator Pomerene's criticism was
against Professor Taussig, who, it is
stated, had advised President Wilson
in August last against purchase of the
Cuban sugar crop at the price prevail
ing Senator Pomerenes suggestion is
good one. A very large proportion
of the professional economists in the
colleges and universities of the country
have never had any business expert
ence, and apparently are absolutely
lacking in the application Of ordinary
common sense TO business operations.
President Wilson has been the victim
of much unfortunate transformation
and bad advice. He has vigorously in
sisted that the cost of living would be
decreased We presume that this was
based on the advice Of some of the pro-
fessional economists IL must be ex
tremely Notifying for him to realize
that this statement as to the high cost |
of living has proven absolutely with |
out any foundation in fact He has |
made many other statements, doubt I
less based on similar unwise advice OF
unwise advisors, and the lamentable |
fact is that he has exhausted his own
physical vitality under the strain of |
following bad advice, and, too. the
country is paying the penalty IN many |
cases other than the sugar situation.
On the basis Of an average advance II
of five cents pound wholesale for the
coming sugar crop over what it could
have been bought for a few months
ago. the American sugar consumers
NAV have to make to Cuban planters
an outright gift of between 100000,
600 and s5O0,00O,OOO above the price
at which they could have bought the
Cuban crop earlier in the season. Add
t. this munificent gift of nearly half a
billion dollars to the planters, the in
creased cost TO the spectators, the re-
fners and the wholesale dealers who
buy up the crop, and we must neces-
sarilv add larger profit than the for
mer profit because Of the larger amount
Of capital needed to handle the crop at
the big prices. The actual loss to the
sugar consumers Of this country By
reason of this unwise advice by politi
cal economists. whether Professor
Taussig be the one at fault or some
other political economist, viii be a :
s.unendous loss to the entire country.
while Cuba will revel in a plethora Of
money such probably a. no other linn
tied population Of an agricultural peo-
Die In the worlds history ever knew
Manufacturers Record.