Economic essays

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Monograph

Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: The holding movement in agriculture / Jesse E. Pope

Collection:: Economics Books

264 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK THE NuMBER oF MonTHS THE FARMER, BY Horping His Crop, CouLD HAVE Sop AT A GAIN OR Loss, For EACH SPECIFIED YEAR AND FOR THE TEN YEAR AVERAGE WHEAT Corn | OATs CorToN 1903-04 1904-05 1905-06 1306-07 1907-08 1908-09 1909-10 1910-11 1911-12 1912-13 1913-14 Ten Year Average a 52! § O|l=1R = 2 | & a @ 8 = @ = Ble g| 4 8 2 | 8 8 | » mH O|=RIRIO|IR|R 6.15 4 , 6 11 = =a 1 8 2 I <Q 9 7 L 2 11 5 9 11 ¥ LIL 3 By 3 2 * Gl 23 5.1 231 411 1 Gd 23. 5301 Slain LS Ves hp 2 > 5 3 1 6 3 3 - d “e July, and August, the average price of wheat was 4.25 cents a bushel higher in the case of No. 1 northern and 4.23 cents higher in the case of No. 2 northern than during the months of heavy movement to market, i.e., September, October, November, and December. The Chamber estimates the average carrying charges, includ- ing interest, to be not less than nine cents per bushel. “And, if these be taken into account,” says the Chamber, “the farmer who held his wheat till the period of light movement to market would have lost in twenty years out of the twenty-nine in the case of No. 1 northern, and in eighteen years out of the twenty-nine in the case of No. 2 northern. Or, to state it another way, the average advance in the price of wheat would not have compen- sated the prosperous farmer for the cost of carrying for the eight months; or, for example, from the end of October until the end of the following June. And, further, by holding his grain for the twenty-nine years mentioned, and selling the same toward the end of the crop year at the period of the lightest crop move- ment, it is manifest that the additional price received, on the average, would not cover the cost of carrying. . . . In other words, it appears that the northwestern wheat producer, whose creditors

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