584 
AGRICULTURAL RELIEF 
(The tabulations submitted by Mr. Anderson are as follows?) 
MEMORANDUM FOR THE COMMITTEE ON AGRICULTURE, HOUSE OF REPRESEN- 
TATIVES, PREPARED BY SYDNEY ANDERSON, PRESIDENT MILLERS NATIONAL 
FEDERATION 
In response to the request of the committee for tables showing the relation- 
ship of cash prices of wheat during the first four months of the crop year to the 
cash price for the last eight months of the year, I submit herewith four tables. 
These tables cover a period of 28 years from July, 1899, to October, 1927. The 
figures are taken from statistical bulletin No. 12 of the Department of Agricul- 
ture, entitled ‘“ Wheat and rye statistics,” and brought down to date by the 
department. 
From 50 to 60 per cent of the total wheat crop moves out of the farmers’ hands 
in the first four months of the crop year. 
Table No. I compares the average price of No. 1 northern spring at Minne- 
apolis during the first four months of the crop year with the average price for 
the last eight months and indicates the differences (plus or minus) between the 
two periods. This table contains similar figures for No. 2 red winter at St. 
Louis and No. 2 hard winter at Kansas City. The figures show that the average 
price during the last eight months of the crop year was less than the average 
price for the first four months in the case of No. 1 northern spring at Minne- 
apolis in nine years out of the 28 indicated. The average price of No. 2 red 
winter at St. Louis during the last eight months of the crop year was lower than 
during the first four months in five years out of the 28, and the price of No. 2 
hard winter at Kansas City was lower during the last eight months of the crop 
year than during the first four months in seven years out of the 28. 
Tables II, III, and IV show the deviations (plus or minus) from the average 
price of the first four months during each of the eight months following for 
No. 1 Northern Spring at Minneapolis, No. 2 Red Winter at St. Louis, and No. 2 
Hard Winter at Kansas City, respectively. Table No. II shows that in the case 
of No. 1 Northern Spring at Minneapolis there were only eight years in which 
the average price during some one of the last eight months of the crop year was 
not below the average price for the first four months. Table No. III shows that 
in the case of No. 2 Red Winter at St. Louis there were 15 years in which the 
average price during some one of the last eight months of the year was not below 
the average price for the first four months. Table No. IV shows that in the case 
of No. 2 Hard Winter at Kansas City there were only nine years in which the 
average price during some one of the last eight months of .the crop year was not 
below the average price for the first four months. 
These tables do not show the maximum or minimum deviations from the four 
months average which may have occurred on any individual day, as of course 
the monthly averages tend to even out the maximum fluctuations both up and 
down. The figures cover the basic grades of substantially comparable wheats. 
They do not indicate fluctuations which may have occurred and probably did 
occur in other grades, and so far as I know no figures showing these fluctuations 
are available. The price relationships between different classes and grades of 
wheat are so variable that it would be extremely difficult if not impossible to 
arrive at any actuarial basis which might be used in the determination of losses 
under an insurance provision such as was provided in the McNary-Haugen bill 
of the last Congress. and that such insurance if available would be of very little 
value.