22 ANARCHY OF AGRICULTURE 



stated that the St. Louis market could absorb twelve cars of 

 peaches per day and no more. Yet, on one occasion a Georgia 

 shipper, desiring to consign peaches to St. Louis, took the precau- 

 tion to wire Mr. Hockaday for information concerning the peaches 

 billed that day over the road to St. Louis. A brief examination 

 disclosed the fact that seventy-five cars were on the way on this 

 one road, to St. Louis! No wonder shippers find their commission 

 men and other consignees sometimes paying prices less than 

 original cost of production! Where does the blame lie? And 

 where is the remedy? Both rest largely with the shippers. 



The problem of marketing and the problem of the organized 

 exchanges must be discussed in later chapters. But it is obvious 

 that in some specialized, limited crop areas a part of the present 

 anarchy in agriculture can be removed by organized production 

 and by organized marketing. But the farmer cannot eliminate 

 all risks. Much speculation in the products of the farm must 

 ever remain. 



QUESTIONS ON THE TEXT 



1. Show the significance of lack of coordination of supply and demand in 



agriculture. Cite illustrations. Compare other industries. 



2. Show why coordination of supply to demand is difficult, and in some re- 



spects, impossible. Show clearly the factors of uncertainty. 



3. Show that with the existing "anarchy" in agriculture, speculation is 



rendered inevitable. 



4. Quote the Government report on the Cotton Exchanges. What are the 



five functions of the speculator? 



5. Quote Emery's definitions of speculation and gambling. 



6. Quote Brand's statement about cantaloupe production and distribution. 



7. Quote Vrooman's statement about the "fallacy of large yields." 



8. Show the fundamental necessities back of storage and financing of farm 



crops. 



9. Illustrate how market gluts arise. Who is to blame? 



QUESTIONS SUGGESTED BY THE TEXT 



1. Define anarchy. Can this term be applied to agricultural production and 



distribution? 



2. Distinguish between speculation and gambling. 



3. Do we ever have overproduction in agriculture? If so, who gains thereby? 



Who suffers? 



4. Would the farmer gain by combining and producing smaller crops? Dis- 



tinguish between individual and social welfare. 



5. Have you any suggestions to make concerning the improvement of present 



methods of storing and financing farm crops from harvest time to con- 

 sumption time? 



6. To what extent ought farmers to enter the fields of storing, conditioning, 



and financing their crops, and to what extent ought specialists (middle- 

 men) perform these functions? Ought a farmer to specialize exclusively 

 in fanning? 



