The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1933-08-04
Friday, August a, 1888
The GRAIN MARKET CRASH

Ute (INHIIV N1HVAEAL1 OIAHOAI
Alto, tho market smashed in the third week of July
bo Roosevelt administration made strenuous attempts TO
hold up prices the gamblers. 1t decreed limits 10 tne
daily fluctuations in grain prices.
During each of the last days in July the market
fell the full INIT The Roosevelt administration realzeo
that if this were allowed to continue eae SLUMP
On AUGUST l. therefore, the Chicago Board OF trade
abolished the limited daily fluctuations t4aG mao S9J there
should be trading at prices lower than the Crossings u
July 81 .e 49, o,-,n,,,ino Of The entire mar
lnt structure is of extreme Importance to all
only as regards the present prices OF gram but as revealing
the holowness of the deal in its entlrety
Three factors have aided the spectators in forcing up
prices during the past few months initiation the I'M
parraeIed short crop and the bayhoo Of the New Deal
The situation is such in the United States today that
the market is cracking despite the combined power OF these
three factors.
Why is it that in the face of high speed initiation,
the grain market should crash? Against what brick
wall has the runaway speculative market smashed!
The GOLD standard has been abandoned, imitation has
been resored to in order keep the capitalist ship aoa
The working people, however, poor IN inflated dollars
they in gold dollars, while prices Oh WhaC tneE guy
The living standards of the working people of the coun-
try are SO low that in the face of hunger they cannot
pay any more for bread if the crop is shor-THY
MUST DO WITHOUT BREAD.
The New Deal propaganda has not raised the nvlng
standards of the majority of the American working popua
ton by one ota If the working people could sustain lie
on propaganda they would have been well fed during the
past five months. But it is bread they need and the New
Deal has given them none OF it.
The grain market has crashed because the working
pie of this country existing not living When the spec
ao raise the price of wheat to people that
they cannot buy what they have bought before Unless the
working people of the country eat there will be
ket for grain pork and beef cotton and fruit
The New Deal has not improved the living stand
ards of the working people of the country After five
months of existence Roosevelt administration has
breIgbt us an even more critical condition than when
office Tho Cifu iC mOrn
only the markets have crashed because the
financial crisis is widening but because the workers.
farmers professional people and small business people
being pushed closer to the brink of existence ITSELF
This is revealed in smashup of the market and the
present attempts to stabilize it.
this respect that must judge the prospects
of the present peggg OF the grain market Another spec
ative injection might prevent market crash on August
l5 Another speculative injection cannot however alter the
fact that August 15 there will be greater cOnsump
ton of products than there is
For us the market crash emphasizes again the
necessity for united struggle of all farmers and
joint struggle with the city workers against the misery
in which are living
The short crop this year means that there are areas
throughout the entire nation where there NO crop
speaking Of that if there price these farmers
It in these areas especially that the struggle for re-
lief must be broadened and intensified that the farming
population in this country will not starve succumb for
lack of medical aid and attention.
protest that will shake the seats of the mighty. The
cards of the New Deal are stacked against us. Our
best card is action and if put this into play
the results of the deal win be different.
Where there crop the collector hordes will descend
to finish the task that the hoppers and drought did
accomplished leave destitute Where there is croI
it must be OUR The question to be decided between
and the rich is whether they shall have our years tot
whether families shall eat and be cother this winter
For us there can be no choice.
Our decision must be that he'll Itself shall not take
this CROP this crop that life to our families
These tasks only be accomplished If the creates
possible mass pressure is raised to win them The mos
powerful assistance that gain anywhere is tn
mighty arm of the city worker His power Joined TO orr
- F
AS we need the city workers in our struggles in orde
20 make them effective must orally to the side of tn
city workers IN their struggles for relief against wage cuts
and against terror. So w
These are the lessons of the grain market crash