HIS LIFE AND WORK 



Norway, France, and the United States; and 

 the nations that have voted "Nay'' are Ger- 

 many, Holland, Belgium, Australia, Switzer- 

 land, Greece, and Argentina. Canada has been 

 divided on the question, since the Province 

 of Manitoba broke up the Winnipeg Grain 

 Exchange by legislation in 1908. 



In the end, as organization increases, specula- 

 tion will decline. Chicago will try to push 

 prices up and London will try to pull them 

 down; but there will be fewer violent fluctua- 

 tions. Better methods of farming and a more 

 reliable system of news-gathering will eliminate 

 the element of chance to such an extent that the 

 wheat trade will offer less and less scope for 

 speculation and no inducements at all to the 

 reckless plunger. Already the frantic methods 

 of marketing wheat have been outgrown in 

 the Exchanges of Liverpool and London. In 

 neither of these places is there any Wheat Pit, 

 or any maelstrom of frenzied brokers. Without 

 any shouting or jostling or wild tumult of any 

 kind, the English brokers are buying two hun- 

 dred million bushels of wheat a year, and con- 



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