258 THE THIRD POWER 



A. 1. We don't think they will need to hold. 2. But suppose 

 they do : under the new system it will be profitable to hold ; 

 therefore, more will hold than under the old plan. Each addi- 

 tional farmer who holds will make a better market for the poor 

 farmer who can not hold. 3. A slight increase in price will be 

 made each month to offset interest, shrinkage, etc., to those 

 farmers who hold. This is not intended to be enough to be 

 particularly profitable, but for protection. However, if enough 

 don't hold, the monthly advance can be made larger until it is 

 profitable to hold, and until the supply dries up enough to 

 maintain the minimum price. This will give the poor farmer 

 the early market all to himself. 4. With a minimum price es- 

 tablished dealers will want to buy all they possibly can. They 

 know the price won't be lower, and will be higher (on account 

 of the monthly increase in price). We believe there will be buy- 

 ers for more grain and staple crops than will be offered. It will 

 be the aim of the society to keep the bulk of the crops out of 

 the hands of speculators and back on the farms or in farmers' 

 warehouses, and feed the markets as they need it. If the 

 farmers would sell all their wheat, corn, oats and other grains 

 to me now at prevailing prices, and contract all their year's 

 output of meat, dairy products, eggs, poultry and fruit to me 

 at prevailing prices, I could make a billion dollars profit on the 

 deal. Perhaps it would be necessary to destroy some of the 

 perishable products, but I would not market a single lot of 

 stuff except at a profit. All I would want, is control of the 

 products, and I would make the market price. This is what 

 the A. S. of E. proposes to do, by farmers cooperating. 

 5. With profitable prices secured, farmers would take the rest 

 cure for themselves and their farms. Thus there would be less 

 production and a better chance to maintain prices. 



16. Q. Is the 1903 wheat crop worth a dollar a bushel? 



A. From the producers' standpoint it undoubtedly is and 

 will afford a very meager profit at this price. The average of 

 this year is only ten to eleven bushels per acre. From the 

 consumer's standpoint there is nothing else he can buy of 

 equal intrinsic value. From the standpoint of production and 

 consumption it is abundantly worth a dollar. All fair people 

 will admit our claims, and it is a crying shame that the price 

 is arbitrarily withheld from the farmers who have been mar- 

 keting at a less price. 



17. Q. Will dollar wheat come? 



A. I predict it will. It will come when the first run is 

 over. Harvests ended in September. The world is taking and 

 consuming the wheat as fast as it comes to market all over 

 the world. Warehouses and elevators are empty. Those farm- 

 ers who hold will get their price, after the farmers of the 



