Great Falls daily tribune. [volume] (Great Falls, Mont.) 1895-1921, 1920-11-06


very phase of grain marketing
Jess to answer questions from n
Mr.. Barnes said that it was his con-,
ction that the present system of grain
arketing thr ough open exchanges, by
aintaining highly competitive mark
at all times, worked to the advantage
both producer and consumer, and
lat future trading was beneficial in
|at it furnished insurance for traders
,ainst destructive losses on commit
argins of profits without exchange
|dging.
He urged the development of a bet
understanding of the ''the great ex-
anges and cooperation with them In
veloping their full service and elimin-
ing their defects and abuses" and
mmended the committee for it's tenn
r to 'lay aside prejudice and previous
nceptions to learn the truth about
sic facts on sound marketing"
Futures Prevented Full Drop.
Touching upon recent declines in
leat prices, which some agricultural
terests of the country have claim ed
e unwarraINe ed by the existing supply
d demand, Mr.. Barnes said that the
leat producer had escaped the full
kfect of deflation," because Of the
lushion" found in future trading.
He cited figures tending to show that
e decline in wheat from the peak post
lr price to the current level has been
ly Is per cent as against decline OF
per cent Ia potatoes for which there
no exchange market. Similar com
llrisons reveal declines of 55 per cent
cotton, Al per cent in beans, and 46
J. cent in barley, the statement said.
iications that the deflation is world
de in character and not confined TO
nerican farm products alone, Mr.
lrnes said, was found in the fact that
ported farm commodities such as as
gar and coffee fell off from 81 to td
i cent during the same period.
Failure Producers Marts.
In answer to a question from a COM
ttee member as to whether it would
4 feasible for producers to market
l,ir own crops, Mr.. Barnes said the
Z,sent system maintained lower
,de toll between producer and con-
\mer than would be possible IN any
stem which eliminated hedging and
At, in his opinion, any organization OF
Miners for price fixing would not be
creed just by the American public.
Wnere MonOpufy Oe9fhs' -,
Particular emphasis was given the
.tement that cooperative efforts OF
,ducers in local territories to elimln-
unfair practices where monopolies
stad were not to be confused with
ion-wide marketing system which
Md itself constitute monopoly. Inc
.mer. Mr.. Barnes declared, is sound IN
monte principle and will succeed,
/ s;Io the latter is not sound In that II
ks to establish market influences 9TH
than the fundamental laws of supply
demand.
Why Co.operators Are Barred.
Questioned as to why cooperative
ling organizations were not permitted
hold memberships in grain exchanges,
Barnes said that while he was not
! ailiar with the rules of all exchanges,
personal opinion was that to permit
\ operative agencies to hold member
yps would be unfair to commission
1ses and other interests which have
sblished and maintained the marketing
rem thus far Huge investments IN
marketing business by private Trims
Md be ieopardized by the swing of
,;nass to the co-operative concerns
m which profits would revert to TAR
rs, he said.
Exact Information Needed.
rirst among constructive suggestions
,mitted by Mr. Barnes was that "ex.
and accurate information on all
,ses that affect marketing and price,
h national and world wide, verified
endorsed by organizations in whose,
pment the producer has confidence"
given farmers to aid them in deter
Inc values Efforts to improve trans
tation facilities, and increase domestic
sumption were also mentioned as
ans by which market conditions might
made more favorable for the producer.
Effect Of European Finance.
he disorganization of European fin
es is to some degree responsible for
present light export demand. and
!. in turn. is due to the Impossible
,osphere created for private business
the world political situation Mr.
mes declared, adding that he believed
had the United States contributed
efforts to the readjustment of world
hrs '1ong ago." American business
i'd not be undergoing the strain
ch it is now experiencing.
.eports that Mr.. Barnes is to head a |
600 600 corporation for exporting !
In were flatly denied before the com