52 



FARMERS' UNION AND FEDERATION 

 TABLE III. 



It is claimed by many that the Chicago board of trade 

 is a necessary stabilizer of prices, but this table, and all 

 other price tables, disprove it. Nothing is more unstable. 

 It is not to the interest of gamblers and speculators to have 

 a stable market; but it is to all others. Millers and all 

 dealers in wheat and its products must have a greater mar- 

 gin of profits to cover a fluctuating market. 



You will note the great differences between the low and 

 high prices in the same months, when there should be little 

 difference ; and the big difference between the lowes t and 

 highest prices of the year when a drop of eighteen cents to 



