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Show PUTS BLAME ON WAR II U " " ' I - - I HiftiSIJ 8ffitfsWStftttl AaJcLaJ.Ja. it .i -JuS .''j C. H. Canby, president of the Chicago Chi-cago board of trade, who testified in the New York state investigation into the rise in the price of bread, declared that the law of supply and demand and not the furore of the Chicago wheat pit, was the cause of the increase. in-crease. "Europe wants our wheat," Mr. Canby declared, "and the world price governs the American price. Every country in the world is trying to purchase pur-chase wheat here. It is a matter of bidding between the Arnarican consumer con-sumer and the foreign buy.r. "I think the New York investigators investiga-tors are on the wrong track. No group of men have sufficient power to boost artificially the price of wheat. A conspiracy con-spiracy to restrain trade in wheat and flour is well-nigh impossible. "I am unalterably against a federal fed-eral embargo on wheat exportations. Not only would that be a great blow to our commerce, but it would be tampering with our economic fabric. Speculation' has been but a drop in the bucket in comparison with the real cause of the increase in tha prices the war. "There is no shortage in our supply. We still have 75,000,000 bushels for export. The new crop will be in circulation in 15 weeks. "For the first time in years the farmer is getting a fair price. Formerly he had to compete with cheap labor in Austria, Argentina and other w:heat-rsising w:heat-rsising countries." |