FARMERS TO THE FRONT 73 



as one kept on selling steadily at the old price? 

 Clearly not. The lowest price asked for a commod- 

 ity must be the prevailing price, for the reason that 

 the buyers will pay no higher price than the lowest 

 at which goods can be secured. 



It is precisely so with the farmers. Recently the 

 announcement was made that the farmers of Indiana 

 seemed to be holding on to their wheat, and the 

 question was asked whether attempts to organize 

 them under the banner of "dollar wheat" were meet- 

 ing with success. One of the millers said : 



"It is a simple proposition which Indiana farmers 

 will face if they withhold their wheat from the mar- 

 ket. Other producers will supply the urgent demand 

 and the holders will be glad to get what they can for 

 their wheat after the others have sold out. The 

 question resolves itself into the old one of supply 

 and demand." 



The supply and demand question has already been 

 discussed, but on the main point the miller is right. 



A combination of Indiana farmers can not fight 

 against freely sold wheat in other sections of the 

 country. Another miller said that he had no doubt 

 that there was a combined effort on the part of Indi- 

 ana farmers to withhold their wheat, but he said, 

 and truly, "Indiana farmers can not control the mar- 

 ket here as long as we can buy elsewhere at the same 

 price." But suppose they could not buy elsewhere? 



