Evening star., 1927-09-28

full consideration Of the entire gov
ernmental practice of prOphesying
economic factors. Cotton has been
the outstanding example of the un-
settling effect of this practice. There
have been samples of the same thing
in respect to other crops. to oil and
even to employment conditions" The
Dallas Journal believes that sit is
more than likely, in view of the fight
ing spirit that has been aroused that
a. determined effort will he made in
the next Congress to compel even
more sweeping changes in the
methods governing the issuance of
crop statements"
Forecasts of future market condi.
tions, based upon mass of statistics.
are held responsible for number of
serious losses to agriculture" it is re.
called by the st. Joseph NewsPress.
while the Chattanooga Times asserts
that "the Department Of Agriculture
ID concerning itself with price fore
casts without the authority of Con.
gress." The Lincoln Star condemns
governmental meddling in private
business matters" with the further
comment. And vet there are some
people who think it would aid the
farmer to create another Government
board and give it control over mis-
business"
1.-The object of the statistical serv
ice of the Government. as applied 10
all crop matters. is. by making the
facts generally known, to give every
body his equal guess at price pros
poets. This end if accomplished
says the Dayton Daily News, would
have a stabiliZing effect on prices"
The Norfolk Ledger Dispatch believes
that 1.-The department will more nearly
accomplish the purpose for which IL
was created if it will devote it's huge
appropriations to research work. tO
aiding the producer and to encourag
ing modern methods of production
than it will by estimating and fore
casting"
President Coolidge has made it
plain states the Saginaw Daily
News. that he regards any forecast
ing of crop prices as hazardous and
has approved Secretary Jardine's pro-
posal to discontinue statements for
cotton in the future on price trends.
He feels that Government
agencies cannot predict with accuracy
what prices are going to be in the
future. In disseminating this
bad practice the department has taken
desirable step in the direction OF
farm relief" The Atlanta Journal
agrees that "pernicious guessing of
this sort has no warranted place in a
Government agency which was estab-
lished to help the farmer, not to make
him a victim of wild speculation"
Affirming that this particular pre-
diction was body blow to the South
less the Birmingham
News continues: "Mr. Jardine halls
from the wheat belt. Suppose some
predecessor of his in the Agriculture
Department had predicted that grain
buyers would do well to hold off for
several months, as every indication
pointed 10 lower bread prices. how
would that astounding statement re-
act on MIR. Jardine?"
The indianapolis Star observes that
In view of the uses to which infor.
nation of this character could be put
by taking advantage of semi-official
statements affecting the speculative
markets, great care should be exer
cised in authorizing public announce
ments." That paper. however, notes
that fortunately, the statement of
the bureau economist and the losses
)f the Spectators will not alter by
one bale the South's actual production
Of cotton" The Trenton Evening
Times feels that "this is a case In
which a rule will not work both ways.
The Government is free to give TO
he public figures and opinions when
hey will favor the growers. but not
or the protection of the public-that
8. the manufacturers and the ulti.
nate consumers"