The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1921-09-23
Tariff
IS DECLARED
failure NOW
GRAIN SELLING AT HIGHER
PRICE AT WINNIPEG THAN
IN MINNEAPOLIS, EN-
PERT SHOWS
Canadian Grain Sold in Minneapolis,
Market in July for @2.lO, While
U. s. Grain Sold Same Market
For Less Than 4l.65
That the emergency tarin bill,

That the emergency tariff bill,
placing a tariff of 25 cents a bushel
on the importation of Canadian
wheat, has not resulted in an in-
crease in the price of wheat, as grain
growers were led to believe, and that
Winnipeg than at Minneapolis, is
wheat has been selling higher in
pointed out by the Wall Stree Jour-
nal.
Workings of the law may be profit
ably studied, the newspaper says. in
view of pending permanent tariff
legislation.
when the Emergency Tariff bill
was being discussed" says the publ
cation. sgreat things we're promised
the farmers OF the United States.
Wheat. like other raw materials. was
seriously depressed. The remedy
proposed was to put tariff OF %
cents a bushel on wheat from other
countries, and thereby increase the
price that much to the farmers
Ridiculous as the proposal was 1t was
taken seriously and enacted into
law. As the same experts have en-
bodied their ideas of economics into
the permanent tariff bill now before
the senate, the workings OF this law
may be profitably studied.
United States Department of Com
merce reports show that consider
able Canadian wheat $4,000
bushels-came into the United
States in July. Some must have been
FOR re-export, but great deal was
FOR domestic grinding, because oul
millers need that wheat in theil
blendings. According to Fordney
economics. wheat in the United
States should have been 25 cents q
bushel higher than in Canada. How.
ever, the daily quotations of prices
show that there was not day ir
July when Canadian wheat sold as
low as in this country. 1t actually
averaged 25 cents bushel higher in
Winnipeg than in Minneapolis.
s'The Price Current of Chicago
shows that when Canadian grain solo
in the Minneapolis markets in Jul,
for around $2.1O a bushel, Uintet
States wheat sold in the same marke
for less than $1.65. Minneapolis mill
ers were simply paying the Winni
peg price plus the tariff and freight
The farmers of the United State
did not get that tariff-increase'
price, but they helped pay it for al
the -four they purchased.
"Comparing the daily quotation
of prices on the Winnipeg and Min
neapolis exchanges. the Fordne
fallacy is exposed No. northern
selling at approximately the sam
price for December delivery, with a
advantage in favor of the Canada
grain. For October delivery, th
Winnipeg price is higher. The clio:
ing price for December wheat Of tn
same grade on September 10 We
$1.41 in Minneapolis and $1.41 B.
in Winnipeg; while at one time
the day the Winnipeg market was
cents higher than the Minneapoli
fComparing the closing prices over
number of weeks, the Winnipeg prit
for the same grade of wheat has bee
several cents higher than in Mi
neapolis.
"Never since the tariff law wei
into effect has wheat in the Unite
States sold higher than in Canad
On the other hand. wheat from Cal
ada has continued to come In
needed, and sold at Winnipeg prf'
plus the tariff. Minneapolis II
bune.s Sept. 16.
GOODWILL LUTHERAN CHURC