The Washington times., 1923-02-13
PRICES
DEPEND ON
NEW CROP
Pierre ]. Smith Sees no Reason
Why They Should
Advance.
BY PIERRE J. SMITH.
President Of the Federal Suga
Refining Company.

Refining Company.
tcopyrisht 1893: By cosnopolitaa New
NEW YORK, Feb. 13.-I can zee
no reason, all this time, why the
price of sugar to the people Of the
United States in the near future
should advance, although this de-
ponds largely on how the next crop
may turn out. Just now there 10
no way, Of course, of knowing what
the coming crop may be.
say that / can perceive no
reason why sugar should 90 higher
to American consumers for quite
some time, If then: unless It be
forced up by spectators, and this
they seem inclined to do through
the not intentional act Of the De-
partment of Commerce In It's report
published on February IL, in which
it declared that there is likely to
be shortage Of 725,0O0 tons in
the 1923 crop.
BEames Publicity.
Incidentally, someone was guilty
of breach of faith in making
public the report on the date meR-
toned, when it had been stated bS
the department it was not to be
made public until February IL. I
am not accusing the department of
wrongdoing, but some one in au.
thority must have permitted it
being given out ahead of time.
This gave SPECTATORS and others
an opportunity to take advantage
OF the fact, to their financial bet
terment. 1t would seema that an
inquiry into all the circumstances
should be made, so that the re.
sponsibility may be fixed. TO give
out important Government reports
in advance Of the time announced
is a dangerous procedure. 1t has
been done before. with disastrous
results to many and beneficial re-
suits to others. No one. Of course,
can justly accuse the Government
Of having the least hand in any
thing of the sort, but it was always
the act of some one in authority
who, Of course, had access to the
reports.
Beyond all this. the report il mis-
leading. The statement that the
sugar needs for 1923 viii be 725, 900
likely to prove incorrect. I should
like to know on what basis this
forecast is made when no living
being can tell what the amount of
the next crop win be. The distri-
button OF last year certainly cannot
be accepted as guide, because last
year raw sugar was selling AZ low
as IL and az cents below cost of
production, while this years prices
have gone as high as AZ cents
c. 1. +. plus the import duty.
Increased Production.
Those engaged in the sugar In.
dustry are confident that as q
result of the prevailing prices there
will be a great increase in produc-
ton, particularly Of sugar available
after October /. Cuban and other
producers, by reason of this fact
will be compelled to distribute their
sugar previous to that date. But
even then, American producers OF
beet sugar can compete with 2-cent
Cuban sugar. At a price Of even
cents they can make q profit Of
$50 per ton, so their position seems
we'll assured.
1t would be interesting to know
where the Department of Commerce
obtained the figures on which its
report is based. The public looks,
to the Government to get its facts
right, and there is no reason why
it should not. It certainly did not
in its report made public one day
ahead of time, but of course the
spectators are finding no fault
with that