Word: wheats
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Dates: during 1920-1929
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...suggestion that freight rates on export wheat be lowered if possible, President Coolidge shows at least a better understanding of the causes of cheap wheat than the farmers or their representatives. Lowered freight rates on wheat for internal markets as the latter demand, would be a mere drop in the bucket; while raising the import tariff on wheat would be like shutting out imports of dirt. There simply ain't no such animal. the reason for low prices is, as President Coolidge comprehends, the almost complete absence of a foreign market, and consequently a mass of grain, usually exported, tumbled...
Meanwhile if the President and the Senate do not see fit to attack the problem at its source, they had best leave well enough alone, however many shouting Magnus Johnsons may leap up in the wheat states. The Northern Pacific and Great Northern Railroads, two of the principal wheat carriers, are already in a shaky financial condition through unprofitable wheat traffic. That the results of lower rates are not viewed with pleasure is known by the fact that the common stock of these companies took a "paid drop of several points on the New York Stock Exchange when the President...
President Coolidge continued his innumerable conferences with almost everyone who thought he knew what was the trouble of the wheat farmer. The first signs of action on the President's part developed. Such action is still in its initial stages...
...Managing Director of the War Finance Corporation. As far as announcements go, it is still rather nebulous. But its main feature is the organization of cooperative societies among the farmers which, availing themselves of the credit facilities supplied by the last Congress, will undertake the orderly marketing of the wheat crop, especially abroad. Mr. Meyer studied the situation abroad some time ago and reported that whereas before the War European merchants financed wheat marketing, buying grain continuously and storing it until the consumers were ready to eat-on account of unsettled conditions abroad this is no longer the case...
...Significance. In so far as Mr. Meyer's plan, if put into practice, will make for more orderly marketing of the wheat crop and prevent dumping on markets where there is small demand, it will aid the farmer. It cannot, however, increase prices by creating a demand where there is none nor reduce the high cost of production as compared to market prices...