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Editorial
July 17, 1917
Free Trader Journal
Ottawa, La Salle County, Illinois
What is this article about?
The editorial criticizes conservatives opposing government price-fixing, noting private groups like the Chicago Board of Trade and others are already setting prices informally during the war, urging responsible government intervention for public welfare instead of profit-driven private control.
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Full Text
PRICE FIXING.
The conservative gentlemen who object on principle to governmental price-fixing might do well to ponder the fact that the Chicago Board of Trade has just fixed the price of corn, by establishing a maximum trading price for it, and is likely to fix the prices of other important cereal crops in the same informal way. The Elgin Board continues its usual practice of setting prices for dairy products. The packing houses set prices for meat. Coal men are still setting prices for fuel, in spite of the government agreement. And the gamblers are setting prices for everything they can get their hands on, by the simple expedient of cornering the market while congress dawdles over the food control bill.
Prices will be fixed, never fear. They are being fixed now with a vengeance, and it's going to require a Herculean effort to unfixed them on a popular and equitable basis. The only question is whether they're going to be fixed for the rest of the war by irresponsible private interests, for the sake of their own bank accounts, or by responsible government agencies, for the sake of the public welfare.
The conservative gentlemen who object on principle to governmental price-fixing might do well to ponder the fact that the Chicago Board of Trade has just fixed the price of corn, by establishing a maximum trading price for it, and is likely to fix the prices of other important cereal crops in the same informal way. The Elgin Board continues its usual practice of setting prices for dairy products. The packing houses set prices for meat. Coal men are still setting prices for fuel, in spite of the government agreement. And the gamblers are setting prices for everything they can get their hands on, by the simple expedient of cornering the market while congress dawdles over the food control bill.
Prices will be fixed, never fear. They are being fixed now with a vengeance, and it's going to require a Herculean effort to unfixed them on a popular and equitable basis. The only question is whether they're going to be fixed for the rest of the war by irresponsible private interests, for the sake of their own bank accounts, or by responsible government agencies, for the sake of the public welfare.
What sub-type of article is it?
Economic Policy
Trade Or Commerce
What keywords are associated?
Price Fixing
Government Control
Private Interests
War Economy
Market Cornering
Food Control Bill
What entities or persons were involved?
Chicago Board Of Trade
Elgin Board
Packing Houses
Coal Men
Gamblers
Congress
Editorial Details
Primary Topic
Private Vs Government Price Fixing During War
Stance / Tone
Advocating Government Price Control Over Private Interests
Key Figures
Chicago Board Of Trade
Elgin Board
Packing Houses
Coal Men
Gamblers
Congress
Key Arguments
Private Entities Like The Chicago Board Of Trade Are Fixing Prices For Corn And Other Crops Informally
Elgin Board Sets Prices For Dairy Products
Packing Houses Set Prices For Meat
Coal Men Set Prices For Fuel Despite Government Agreements
Gamblers Corner Markets To Set Prices While Congress Delays Food Control Bill
Prices Are Being Fixed By Irresponsible Private Interests For Profit
Government Agencies Should Fix Prices For Public Welfare
Unfixing Prices Will Require Herculean Effort On Equitable Basis