The Washington times., 1920-10-17
.FOODGOUGERS
REAPN||LL|ONS
Farm Board Head Charges
S3eculator With Response
blIity for High Prices.

Food spectators now are indulg-
jng in an orgy Of profteering in
comparable with any price padding
during the war period" President
Charles S. Barrett, Of the National
Board Of Farm Organization, de-
clared here today.
sPECULATORs STILL ACTIVE.
millions paid for food by consum-
ers are pouring into the pockets OF
spectators and middlemen," said
Barrett, who announced he is prepar-
ing to prove his charges with Gov
srnment reports. Barrett cited the
price reports OF the Labor and Agri-
culture Departments.
Retail food prices dropped approx
mately O per cent In the thirty-day
period ended August is. according to
the Labor Department records.
Prices paid farmers for food
dropped 25 per cent between August
] and September 80, according TO the
Agriculture Department.
Spectators are pocketing the 10
per cent difference" charged Barrett
FARMERS ARE LOSERS.
Furthermore, farmers whose labor
and products are thus filling the
pockets of spectators are losing
money because prices now paid Tor
farm products at the farm are gener-
ally far below the cost OF production"
Representatives OF more than thirty
farm unions will meet here october
25 to make another attempt to get
relief for the farmers. Barrett an
nounced today. The same represen-
tatives held series of conferences
here last week, during which they
presented demands to Secretary of the
Harding, of the Federal Reserve
Board. ...
Threats of a strike by farmers de-
termined not to produce more food
than enough for their own needs were
voiced freely at the conferences with
Houston and Harding.
The Secretary and the governor,
however. plainly told the farmers
neither the Government nor the Fed
eral Reserve Board would grant re-
lief intended to enable the farmers
10 hold their crops for higher prices.
Farmers this week plan to lay their
demands for relief before the Amer
lean Bankers Association in session
here
The discount rate and the present
are believed responsible for the pres
ent nationwide price-cutting cam
paign The campaign, which began
last spring soon after action by the
Federal Reserve Board, has boosted
the value OF the dollar IS cents since
July /. according to Government
price reports. The dollar now is
worth So cents, compared with its
pre-war purchasing value. July 1 1T
was worth only 81 cents on this same
basis.
Governor Harding Of the Federal
Reserve Board, yesterday flatly re-
fused the demand by the farmers and
,otton growers for credits by Federal
Geserve banks on farm collateral
ihat would enable them to hold their
c~ops for higher prices. The credit
situation, he declared, has so vastly
approved that II 10 ample to meet all
Ultimate requirements.
rood PRODUCERS SEE RUIN.
The present disturbances in price
, nd demand Governor Harding in
jsted, are the inevitable and up-
yvoidable consequences of the econo-
lIic degrangements occasioned by the
,-orld war. He told the farmers that
their chief markets should now be in
llis country and not abroad.
when informed of this decision rep
resentatives of the farmers and cot
ton interests who have been urgently
presenting their case before Governor
Harding and Secretary of the Treas
ury Houston all this week, expressed
belief that the Federal Government
has entirely failed to appreciate the
crisis that confronts the farmers of
the country. They see nothing ahead
but total ruin, they said.
The farmers plan to hold monster
convention in Washington early in
December, and will bring every pos
sible pressure to bear upon Congress
TO modify the Federal reserve acts
so that IL will better serve the agri-
cultural interests.