THE STORY OF THE NONPARTISAN LEAGUE 



Chicago was affected by cabled despatches 

 received from Argentina or India, that often 

 these despatches were spurious or sent by 

 accomplices of the gamblers in Chicago. Yet 

 he knew that when such false intelligence had 

 put down by five cents what was called the 

 price of December wheat in Chicago, the next 

 day the price of wheat would fall at least five 

 cents at his local elevator in North Dakota. 

 Even if the month were September this fall 

 in the December quotation in Chicago would 

 have this effect in North Dakota. And he 

 knew all the time that the so-called December 

 price meant merely that one gambler had bet 

 the price of wheat would be five cents less in 

 December, and another gambler had bet that 

 it would not, and the farmer stood to lose 

 five cents on each bushel merely because of 

 this bet. 



He knew also that at no time could there 

 be any assurance of reality in the so-called 

 market quotations, since at any time there 

 might be progressing a gigantic deal in which 

 all the reported values would be fictitious. 

 He knew that as a general rule the price of 

 grain was made low when the farmers had 

 grain to sell and high when they had sold out, 

 and he knew that this was merely another 

 evidence of manipulation. For instance, here 

 is a table that shows how the price of corn 

 was manipulated in the year 1911: 



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