The Monmouth inquirer. [volume] (Freehold, N.J.) 1865-1933, 1923-03-29
HIGH SUGAR PRICE
WITHOUT EXCUSE
Secretary Hoover So Declares,
as He Tells Public Investiga-
ton Had Started March q.
,REFUTEs MANLY's CHARGES
Progressive Bloc Press Agent 5Iames
Commerce Department for Cost
MISUNDERSTANDING Quotes
Records

Washington Demands now being
made for an investigation OF sugar
price fluctuations "are about month
behind" Secretary Hoover said, add
ing that such an inquiry had been
instituted by the government on
March a.
The secretary said he was con-
WINGED there was no economic 5ustifi-
cation for high prices of sugar and
that the Department of Commerce
and other governmental departments
were investigating conditions in Cuba,
under authority of law pass I'd by
Congress, authorizing inquiry into
combinations of foreign producers of
import commodities
Action of Basil Manly, director of
the Peoples Legislative service form
ed by the progressive bloc in Con-
gress, who wrote to President Hard
ing that Department of Commerce
statements had assisted sugar specu-
lators, was characterized by Hoover
as the circulation of legend.
"As / have repeatedly stated there
is no economic justification for the
high price of sugar, as there is an
estimated world surplus Hoover
said. sMr. Manly is about month
behind the times in his proposed in
vestigation into the rise in price. I'm
der authority of Congress to investi-
gate combinations of foreign pro-
ducers of import commodities, this de-
partment. as soon as appropriations
were available on March 4, instituted
an investigation into the situation in
Cuba. AS the department has no
jurisdiction in domestic questions of
the kind, informally suggested to
the chairman of the Federal Trade
Commission that it should undertake
this end of the matter.
II wrote to Senator Brookhart, Re-
publican, Iowa. on February 26 in this
connection a letter which was read in
to the Congressional Record as fol-
lows.
- am in receipt of your letter Of
February %. The only laws at all re-
lated to the subject to which you re-
fer are the restraint Of trade acts.
as all price and other war regulations
have been long since repealed by Con-
gress. This department necessarily
has no knowledge of any corner in
sugar as such matters are dealt with
by the Department of Justice and
Federal Trade Commission. AS to
the question of'sugar supply, a world
survey made BY this department
showed that the stocks of sugar on
hand from last year plus the prodVc-
ton of this year. were estimated at
total of 19,511000 tons, whereas the
consumption for the year was esti-
mated at 19035000 tons, leaving
probable surplus at the end of the
year OF 476000 tons. Some miscon-
ception has arisen because the esti-
mated surplus at the end Of the year
showed a decrease from the abnormal
stocks at the beginning of the year.
mere Is obviously no suffrage III
sugar and, moreover, an undue in
crease in price will decrease consump-
ton
81 would be delighted to see any
impartial inquiry into the speculation
which has brought about the rise in
the price of sugar or any other phase
of the matter There is nothing that
the Federal administration wishes
more than to see a reasonable price
and a stable market in sugar and
other commodities without specula-
ton.
"As to Mr. Manly's discovery of the
supposed sugar conspiracy year ago
ON his own statements (Which |
confrm) my part was that | told the
Cuban officials who came to Washing
ton that il they wanted to set up a
restriction in the then oyer-produc-
ton of sugar. jointly with American
beet producers, they would have to
get the approval of Congress. Need
less to say this was never obtained"