Show Economist Says Rising Food Prices Blessing in to Public I Two dollar wheat heat coming coining all food prices going up but at atI atthe atthe which will solve I the same time therell there'll be more money help I Professor Goode I unemployment problem Professor I By KENNETH W W. PAYNE Tho The Telegram Special to C CHICAGO I In I. I 1 J Jan an 03 Blood letting that's s what hat this export drain on like leeches the flanks onks aro are on nations wheat supply really 11 t is 15 Th The e European our our Of America AmoriC nourishing themselves by byI j her life stream bread stream sucking J. J Q Ji- Ji from rom h her bert cr I i i The Tho startling was waa offered by J.- J. h- h i I M c t. t 1 fl f t. t Prof J. J Paul pau 1 G Goode 00 d C one 0 of th the tho 0 astion nations nation's na as- t 7 L tion tion's s 's 8 leading economists when I said i ft J for I 1 had come to him an authoritative ft q from Horn th t tho h 13 economists economist's i t a f scientific survey kf o It point of view viC of tho present alarming l i d 1 t L tt 1 it 1 wheat cri crisis f Undo Undoubtedly the tho wheat t crisis together to to- I 1 t t 1 gether with the terrible unemployment i constitute America a two Jf if v 1 f 4 s situation i lr l. l most pre pressing ing and present problems r io Sent to Professor G Goodo Goode 00 d 0 for or an exI explanation ex ox- f. f f nation pla-nation of the former unexpectedly former unexpectedly I j. j I I got sot a solution of tho latteri o t You know the old time Hmo doctors used J IDI ft- ft I imf h to bleed a man t hene whenever er he fell ill oJ I 11 el fit l smiled Dr Goode They applied d l leeches as a panacea Sometimes the tho Jj t J.- J. J blood letting killed tho the man b but t once in awhile by puro pure luck Iud the victim was ilS I q f ti q- q W. curc cured I t t 1 0 Well in just the same me way by a avery avery L very odd chance tho the blood letting beI being be be- ing jug practiced d on America by the hungry TP l Goodie nations of oi Europe which are draining our wheat supply Is helping to cure us of one of ot our gravest ills ilis meat ment s Prof Professor or Goo Goodo's Goodes os o's analysis J of the wheat crisis erms lad leading n to this thIs as astonishing conclusion oD c carries the authority of an export a student and a scientist Dr r. r Goodo Goode is professor of economic in lD tho University Uni of Chicago It is inexactly m in exactly I the ifie province of economic geography that tho the study tudy of grain gram production and exports falls Advance of Wheat Inevitable CI Taking tho the present situation b bv by and md lar large larie I he ho said H the tho tho a advance vance it in the price of wheat is inevitable Ine With Russian wheat shut in by the closing of ot t two to o Dardanelles with the Ar Argentine crop cron poor and nd the Indian crop worse tho the worlds world's demand must inevitably fall ou tho the United States State and such a demand can only toreo the price of ot wheat way v n ay up lip Hut But lInt r what at tho the pu public lic wants ants to Know knoy is whether tho the speculators in the wheat pit are re playing a a fancy tracery for their own profit o over cr this perfectly natural and inevitable lc rise In In Iii my IT opinion they are arc not 1101 to any aD great reat extent Of course there thera is always some manipulation forcing forcin- prices above normal and a n o investigation will rill probably jerk them down a little just juet a as it did when tho the war scare sent them baloo ballooning in last fall But Dut on the whole the tho operations of the board of trade arc ate beneficial and will unquestionably prevent what would otherwise bo be a real bread famine in the course of time tulle For Por speculation prevents tho the wheat supply being quickly exhausted exhausted ex ex- ex hausted at a cheap price As s it is there will be no bread famine and there is no cau cause e for excessive w worry rrt over oer tho the extremely hi high h prices of wheat though these pric prices indeed are going higher vet yet T TWO DOLLAR ILAR WHEAT IS INEVITABLY COI COMING G IN U MY IY PlC PRESENT OPINION The advance to about a bushel which is creating a near panic is 18 thus only oDly a starter And the tho continuing F rise WILL WILLS FORCE FORGE UP THE PRICE OP OF ALL OTHER STAPLE FOODSTUFFS For it is an nn economic law that when one food goes up people begin to substitute other othor foods and their increased demand de do mand and forces these fools foods up also Prophesies Still Higher Higier Prices So the American public mav may as well accustom itself to the prospect peet of O oven even ovena evena CD a higher cost of living li Corn rye meats these meats o all con continue to advance 11 iu in price X Now oW those e erho who demand an embargo on wheat aro are undoubtedly acting in inthe inthe inthe the immediate interest of the thc eon consumer umer An embargo would bring down the prices with a thud But none the Ices lees an embargo would not bo ho wise For in the present difficult industrial situation tho wheat exports constitute tuto tute almost the only hope of amelio the tho great unemployment crisis An expert recently told toM inc ine that 2 2 per cent of tho the wheat crop cron is in tho the farmers farmer's 8 bands At an any rate it is sure that a a. reat part of the profits prots from tho the sale of wheat abroad at nt a hi h price Irice are aro aro going into his pockets And tho the farmers farmer's 1 s prosperity is s undoubtedly e y tho the basis basH of the nations nation prosperity More l Morea over or the tho other profits arc aro divided dJ amou the small mall rain the small middlemen the central elevators the big and aud to brokers II Thus these big profits which Europe Europa must pay are arc bein- bein scattered scatter throughout through through- out the tho nation in many pla places cs and nl amon among different cla classes rhe create at once a n bi big purchasing ing power which will show itself in a new demand domand for the products of American The liThe demand will im create new business and tend to open up new jobs for tho the unemployed Now as things stand because of the lack of foreign trade e and of ships to toc c carry our products wheat is the only big bis item in iD our export aside from war mu mu- But the only present solution of our unemployment problem lies in bi big ex- ex X ports orts bj big profits nt at Europe's and resultant to American in in- T Thus u THE fHE OF 01 1 WhEAT EAT IS NOT A MENACE but a bless blessing ns for it is almost almot th the tho on only present remedy for The The severe favera ne rise J iu in the tho price of food foodstuffs is IS an inseparable consequence of it It b but t ou on the whole it tt is ib Iti compia comparable le to a tariff tax which we must be willing to pay in or order cr to stimulate our timid industries and furnish new labor to tho the unemployed un un- un employed who constitute today an even more menacing problem than that of the I n Tnt OTI O of foOl food food |