The midland journal. (Rising Sun, Md.) 1885-1947, 1945-04-27
LOOKING
! AHE4D
" GEORGE S. BENSON
h Presidenf--Hardixg college
Searry. ArkaAsas
Fixed Laws


Economic laws are laws of nature,
rigid. They are divine laws in the
same sense that the law of gravity
is law of God. Such laws were in
force long before the first man-made
statute was ever written, and no
natural law was ever repealed by
act of parliament. Natural laws can
be broken but they all carry within
themselves suitable penalties for
violation; hard to escape.
Under natural law, every producer
earns profit when he serves the
public well; takes a loss when he
serves the public poorly. When
nanipulators, government planners
or any other kind, use artificial price
controls, they violate natural law.
1t makes no difference whether the
aim is greed or to protect ''lame
ducks" from loss. Price controls en-
courage incompetence.
Wheat Price Parity
Claude r. Wickard, Secretary of
Agriculture, recently told an, audi
ence of wheat growers in St. Paul
that U. S. production last year was
100 million bushels compared to
600 million in a typical prewar year.
This is deemed to forecast post
war over-production of 100 million
bushels or more year. There is
law compelling government to hold
up wheat prices for two years after
the war.
Taxpayers may as well brace
themselves. It is time to start Won
dering what it's going to cost per
bushel to prop up the wheat price
and hold it at parity; or what bonus
per acre must be paid to non-grow-
ers of wheat for not growing wheat.
Another wonder: Can the price sup
port be removed after two years or
must the taxpayers continue guaran-
teeing a wheat price indefinitely?
Observe Natural Law
There is an honorable way: Leave
each industry's problem for men of
that industry to solve. Using
wheat as an example, permit the
Department of Agriculture to pre-
pare such data as Mr.. Wickard
gave the farmers and make the
figures available to the whole in
dustry. Let the farmers use their
own judgment in the light of the
facts. They will do a better job than
government men, and it will not
cost the taxpayers anything.
One advantage is obvious: Men
of an industry can consider an
industrial problem unblinded by a
dust storm of political considera-
tons. Governments proper func-
ton is to serve the citizens. Govern
ment can get statistics more con-
veniently than an organization of
business men, and government ex-
perts undoubtedly can offer valuable
interpretations, but interference is
not help.
Men Can Think
Business men can understand
government figures, interpret them
and apply what they have learned.
Figures from the Department of
Commerce and the Census Bureau
have benefited many industries in
the past, interpreted by statisticians
in the employ of trade associations.
If wheat is over-produced one year,
bread will be cheap. The next year,
wheat men can plan more eau
tiously.
What did the cotton subsidy do
but open the gate for rayon to storm
the cotton planters market? A fic-
titious wheat price can only bring
that industry some similar calamity.
It is bad enough to have loyal citi-
zens taxed without mercy to build
false price structure; worse when
you know that the result will be to
lift big essential industry off its
economic foundation and perma-
nently cripple it.