The midland journal. (Rising Sun, Md.) 1885-1947, 1930-10-10
NEWS. REVIEW OF
CURRENT EVENTS
Rulers of Soviet Russia De-
moralize Wheat Markets
of the World.
BY EDWARD w. PlcKARD

BY EDWARD w. PlcKARD
COVIET Russia does with her might
- what her hands find to do, espe-
cially If it is something that may an
noy and embarrass the "capitalistic"
mountaineering all that are not
Soviets. OF late the Communist die
tators in Moscow have been devoting
much attention to wheat, selling short
on the Chicago Board of Trade and
dumping grain on the European mar
kets at cut prices, resulting in the
lowest prices for wheat in many years
and much indignation and alarm in
various countries.
The Russian operations on the Chi
cago board were made public by Sec
rotary Of Agriculture Hyde, who asked
the officials Of that organization to do
something about it. Those gentlemen,
while instituting an investigation, init
mated that as the board was open to
the world for trading they might not
be able to do much to prevent such
hedging in the future. Anyhow. these
operations were in themselves far less
important and portentous than the
dumping of Russian wheat and the
evident fact that Russia was becoming
a serious competitor in the grain mar
ketS of the world with the United
States, Canada, Argentina and other
wheat-growing countries. The Soviet
rulers absolutely control the produc-
ton and marketing of grain in Russia,
and though that country is not yet
producing enough for it's own needs,
they are keeping the Inhabitants on
short rations and selling the grain
abroad because they need the money.
Soon, maybe, by next year, their sys-
TEN of, mass production aided by the
use of American farm machinery will
be in full effect. and apparently the
farmers of other countries will have
to meet the situation by similar mass
production methods, or go under.
nURING the week many suggestions
~ for relief were made in many
quarters. "A Rumanian in the League
Of Nations assembly pleaded for a
European preferential tariff to protect
the farmers of eastern Europe. The
Swedish head Of a great Argentine
wheat firm said the best method would
be for. the world to boycott Russian
wheat. In the Baltic states there were
demands for government actionagainst
the Russian dumping that threatened
the ruin of local industries and trad
ers. Four Representatives of the
Canadian grain trade sailed for Lon
don with the dominion premier and
other cabinet members to attend the
imperial conference opening October
1, making 1t likely that. the grain sit
uation would be considered by the
conference. $50 ,scygf a /,
Officials of the American Farm Bu-
reau federation, the National Grange
and thelFarmers' Educational and Co.
operative union announced they had
been investigating the disastrous
wheat slump situation and would re-
port their findings soon. The farm
federation, Secretary Winder states,
has had under, consideration for some
time legislation designed to more
thoroughly regulate the boards of
trade to prevent just such manipula-
tion as has occurred during the last
few months" Congressman Fish Of
New York. chairman of the house COM
mittee on Communist activities. sum-
moned the members Of the committee
to Chicago for hearing on the Rus
sian short selling on the Chicago
board.
Toward the close Of the week wheat
prices recovered somewhat in the
United States and Canada, due to lib
eral buying and to reports that the
Russian interests were covering their
short deals. In Chicago the Russian
scare was regarded as about passed.
but from London came dispatch say
ing that Canadian and Russian grain
was competing for sales and that
American hard winter wheat was in
small demand.
DROSPECTS for early disarmament