Show COUNTRY CANT CAN'T BE BUILT UPi UP WITH FACED BARE-FACED GAMBLING I I IN STAPLES PERMITTED Senator Capper Charging Wheat Prices Are Manipulated Quotes Miller On How Situ Situ- Situation Situation Situation Affects His Industry By CAPPER C United nitro State Mates S Senator froni Kans Kan- Kan s and anil JAad Leader r of ot lh the tho Farm Firns Bloc p Jal DI Dispatch to Tho Stand Stand- ari Copyright by the th Consoli- Consoli Consolidated Consolidated dated Frees Pren Association TOPEKA Kans April 18 lt beat ha has hai been runnIng hog lId on the th Chicago board of trade rade aa as It U used to do In the days daYI before there here was a grain train futures act That om s f m to be b the th only word Ford tot for It Ko No one on can imagine lne the deliberate law of supply and demand yanking down prices 22 2 In 21 4 hours nor El 61 centS cent In liIS 15 days Ono One day dat wh when n Chicago received 1 9 3 cars can car of wheat the th board oX o E trade arade dealt In bushelS Another day with foreign do- do wand de-wand moro more mor than l usually active there was a price slump of 14 i LOOKS LIKE UKI Then came cam the abrupt order irom the he secretary ry of agriCulture who it-ho Is I charred charged with enforcing the tho th train anti law directing n immediate probe probo of the tb tran- tran of the grain train exchanges exchange That will take tako a few days das day or weeks It has every look ot or a ted market Perhaps some som of the tho th bl bit big opera opera- opera Tor Tors Ion wintering at Palm Paint Beach Deach have keen jen taking a flier Some one or some ome ome group wa was abl able to JUIle juggle prices price re regardless of f So visIble change In the tho th world supplY and demand situation It IL hu has ha been a war ar between gamb gam b- b IkU Farmers lo suffered no treat groat losses b 1 the big drop In prices price any more han han they madO mad gains by 1 hat 2 1 Most Moat of their was old soon loon after arter harvest before that rico was anywhere Any near The United States State department of report reports only 13 per cent tt t f the Ure th total crop In the hands hand ands o of ot Starch Arch 1 i When the in usua T Jor r year 10 average la is moro more mor than thanA A 8 per cent nt About bushels of wheat were Vels In ut the th coun country r ry mills and elevators last year yearend end bushels buhel lea less than thanin tha In Ih UI 2918 A dependable market forecasts ft a a over carry of at o 10 bushels smaller than a ai i i Hear ear ago aeo w With a season eason not especially favorable crable for winter wheat there is II liEo To great bear boar dope dop In these ChANCE roil FOR I But this does docs not melna meana manip manip- manipulated market between seasons as 38 no harm barm In It The famous May squeeze of o HS 1928 demoralized 10 O Oio milling trade trad and Injured the th domestic demand for or wheat for toi The Tho Th ill III effect on legitImate grAin caused by the th recent curry In the th market may be b judged arom irom om this extract from front a letter I 1 ave received from the Clyde CIde Mill Mill- g and Elevator company Clyde Kane Kans III It Ii manager and secretary Ir Sager Bacer writes write me a The Thc last week or ten days day haTe hatO een a gel 2 of only 00 barrels barrel of ol lout flour and we Wl have hav lost 1000 b bar bar- bar t r l more which could have hav been old bad had the th market remained steady teady How JIow can the th interests of the country bo b built up men em- em employed em employed 1 loyed and the th general welfare benefit when faced bare gambling is II permitted in It such luch a basic con and foodstuff u as a wheat T TIn In the th same sam way a It manipulated market scares aa away real buyer And sellers ellers by creating creating- artificial values alues with the th result on result an eastern market reviewer point out the out market speculators speculator have hav to sell lell sellout ellout out to one on another This Thi means meana ruin for the th losers loser the th do- do delado lad de-lad bach lado Is I prolonged so aO far tar as a pos pos- Ible Ible J PLEDGES AID AlD I have assurance from Secretary Jardine that tile the th department of agriculture will vill go o the limit of Its lower ower under the th law and forego o opportunity to ascertain the In- In Influences In Influence fluence that have been at work In the lh market Under the grain anti gambling g law artificial manipulation of wheAt prices price Is I a penitentiary of- of tene of-tene tense fene Another and more mor drastic remedy emedy should hould the discloSe unlawful practices would be to cancel the trading privilege liS a a 1 contract of any an grain rain exChAnge found not to have enforced the th rules rubs for tor the th proven proven- prevention tion ion of illegal trading And nd nd vicious short hort selling selling- This Thi would would would be b a II step te but no more mor serious than the th Chi Chi- Chicago o eago cago board of trade trad WI was wa Itself forced to adopt the month after we went to wr war with Germany German when trading wu was wa suspended on the th Chicago o board of trade May If 17 1917 1911 It IT by order of la its It directors be- be because because because cause the market was u wa runnIng away away and the th board at that time felt compelled to act aeL The Th Chicago board of et trade has hns always had bad the th means mean to control and prevent the Hi evils evil practiced by ti professional market gamblers ra but bu has consistently declined to applY appi them SnOW DOWN DESIRED The Capper law Will was waith the th result of a thirty years year WAr WArto warto waito to compel such market ston sion Ion It was wal passed with difficulty difficult and the th first draft WA was killed b by bythe I Ithe the h supreme court It Is the th first flut fir legal lecal action of III its kind and sill still I is somewhat In the nature of nn an experiment As A legislation It was wall the best law that could be drawn from knowledge kno then availAble The department of agriculture ap- ap approved approved ap approved proved It and It K Is I now up to the department to 10 co IrO the tho th limits of its broAd authority to enforce It Sec Sec- Secretary Sec Secretary Jardin JardIne JardInes JardIne's determination to todo todo do this will be generally generall and heart heartily ily lIy commended If It the th findings finding show how how the law Jaw need needs strengthening str or discover loop holes hole which need stopping up the department should recommend and sponsor such luch changes chances No Xo one wants want the Ih grain anti antl gambling law repealed except repealed except for selfish reasons It will not bo be b to- to repealed re repealed pealed It Jf round In any way In- In Inadequate In Inadequate adequate It will be b made fullY equal to Its mission A down show how how-downIn In the present prent instance Is In every way desirable |