24 FARMERS' UNION AND FEDERATION 



selling orders in one supreme effort to force the price down 

 to their mark as the maximum farm deliveries come on. The 

 producer, seeing his daily loss, and no bottom to prices in 

 sight, now becomes panic-stricken and rushes his wheat to 

 market on double-quick time. He has already lost the 

 year's wages of himself and family. Creditors are clamoring 

 for theirs, the mortgagee demands his, expense bills for 

 threshing and other labor must be paid at once. Wheat 

 has lost its security value, as no one sees a bottom to its 

 price except the big gamblers, and they won't tell. They 

 now quietly change over to the buying side, fill their million- 

 bushel granaries with the surplus wheat, fill their contracts 

 on options they sold months ago at double the price, and now 

 buy options on millions of bushels in later months which 

 they expect to sell then at twenty-five to one hundred per 

 cent increased price when the growers are sold out. A few 

 of these big wheat gamblers and speculators get more money 

 out of a wheat crop than ten thousand wheat raisers do. 



Will it pay to unionize to take from the gamblers and 

 speculators the power to price your own wheat, and set the 

 bottom price high enough to get for yourselves those mil- 

 lions of dollars they swindle you out of? If you are wise 

 you will say it will, and proceed to unionize. No existing 

 organization of farmers, nor all of them combined, can put 

 a bottom to prices of farm products. They are not organized 

 for that purpose. It will require this plan of unionizing. 







Natural and Artificial Supply and Demand. 



Farmers have been taught that supply and demand reg- 

 ulated prices. But there are two kinds of supply and de- 

 mand one natural and one artificial. With a demand for 

 only an average yield a big crop would give an over-supply, 

 while a short crop would cause an over-demand. The board 

 of trade is a device for making an artificial supply or de- 

 mand on short notice. When the " bulls" make a concerted 



