1 84 THE THIRD POWER 



lation will accomplish little. In resorting to this, 

 there is, too, the further danger of raising prices so 

 high that people can not or will not buy. The farm- 

 ers can check the present competition by combination 

 more easily, and more effectively, than governments 

 can kill it by law. 



And the key to the situation is in the hands of the 

 Americans. If they will refuse to compete with 

 Europeans on the present basis, and will combine 

 with them to lift the price of farm products all over 

 the world, it is clear that, though competition will 

 not be destroyed, it will be put on such a basis as to 

 make it possible for all to profit. Every advance of 

 price here, provided it be firmly held, will raise the 

 price of the competing product abroad. 



A combination among American farmers even 

 without help from abroad would have that effect. 

 It would establish a level below which the European 

 farmers would not need to go in competing with one 

 another. But with all the farmers in the combina- 

 tion the effect would be much more marked. 



It seems strange that the European farmers 

 should look for salvation to their most dreaded 

 competitors, but it is from these latter that salvation 

 must come. For they have found that in beating 

 their European rivals they have also injured them- 

 selves. Now they propose to take themselves out 

 of the unprofitable struggle for cheapness. And 

 until they do withdraw from that struggle there 

 will be no hope for any one. So this chance is of- 



