The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-11-08
The Week
By SAM'L HILL.

By SAML HILL
Stamping Out Radicalism.
It's Very Strange!
Paper Wheat.
Very Kind II Me!
GOtham's Gehenna.
PrOgressives in France.
Alexander Legge was in earnest
when he told Chicago bankers in
a speech that something had to be
done to stamp out radicalism. He
knew or felt that the old progress
sive spirit was being kindled anew
on the prairies. If it got under
way it would be no use for the fat
boys to take to the tall timber. 1t
would build a fire under them. So
with that as a prelude the Farm
Board announced on October 26th
that it would lend a farmer as
much on his wheat as it would
bring at his local station. That is
it will LEND $1.25 a bushel on No.
1 Northern on. Minneapolis bas-
is, On that day that grade of
wheat was bringing $1.19 to $1.21
in Minneapolis. This of course is
cash wheat, not the wind that the
spectators were playing with on
options, The Board will also LEND
SLIP a bushe on No. 2 durum
Duluth basis,
The day before, bitten with the
madness of the stock exchange
grain gamblers let go all holds
and the price of wheat sagged Il
cents bushe. But when the Farm
Board announced its intention the
price crawed up 6 cents. Since
then, although the option or gam
bier price in Minneapolis has beer
at times below the Boards figure
the "card price," which is sent ou
to the local elevators by the Cham
Der of Commerce has-oh, it's yer!
strange-been a cent or tw'
ABOVE the loan value of tn
wheat as fixed by the Farm Board
Here is a headline from tn
news reports: Avalanche of sell
ing swamps wheat mart. Million
of bushes dumped into pits at Win
nipeg and Chicago. Takes suddel
turn. Widest trading in 80 year
occurs on Chicago Board o
Trade. Sounds like all the farm
ers in creation were selling wheat
Yet, if anything, the farmers wer
selling less than usual! They wer
stickingl They were hanging o
to the grain-those who coulG
Well. what was sold and what wa
dumped into the pits? Pape
wheat my dearsl Pure wind an
nothing but Gamblers I o Us wel
falling in the gaming house liE
snow on Christmas eve. Then ii
Farm Board interviewed. Yo
know what happened.
The Farm Board pegged Il
price at $1.25 a bushel. If that
not price-fixing then nobody know
what price-fixing is. Yet all Il
pious humbugs of the administr;
ton recoiled with horror from Il
McNary-Haugen bill and Coolidy
vetoed it because it was a pric
fixing measure and hence "eco,
omically unsound." What w
burn the farmer up is that til
was not done months ago when
was marketing his grain. It mig
have helped them. It has help,
some farmers. But coming at e
end of the season. sort of
layed pass-it has helped the gra
gambler who bought wheat for {
rise in price. The fellows w
profit are those who have t
farmers wheat in their termin
elevators. They are singing mo-
"The Board was kind to me, We
kind to me, very kind to Niche
III uellgnCIul harmony.
Need anything be said of
Republican deflation in w
Street? Nothing much except
point to Senator Brookhar
statement that the effects of
will slowly penetrate into
country and reduce in some degl
this Republican prosperity. It ca
be done. You can't take bree
from a Highlandman! But here
this thought Senator Brookh;
gives: The country banks Il
have been sending their spare CO