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

THE HOLDING MOVEMENT IN AGRICULTURE 267 page 142 are given diagrams showing the average price move- ment over the five year period, 1909 to 1914, for all wheat for the United States, for winter wheat for Ohio and Kansas and for spring wheat for North Dakota. From the diagram it is seen that the extreme seasonal variations for all wheat for the United States was ten cents; for Ohio winter wheat, twelve cents; for Kansas winter wheat, eight and one-half cents and for North Dakota spring wheat, eleven and one-half cents. In each case these differences measure the extreme seasonal range in price, and the holding period, if from the low of September to the high of the following July, is a period of ten months. It must be evident that the chances for the wheat grower to make a gain at all commensurate with the costs involved is very slight indeed, and yet on the same page with this diagram one reads: “A large part of the wheat crop is marketed in a few months after harvest which causes a rapid decline in prices dur- ing the first few months of the new crop year. This is one of the principal causes for the need of credit for storing grain.” “The average difference in the price of corn between the low of December 1 and the high of September 1 is given as fifteen cents.” (Year Book, Department of Agriculture, 1921, p. 213.) The shrinkage of this grain over the holding period is given at 16.6 and if this single item of the carrying charges be taken into account the difference shrinks to three cents per bushel. Before even this can be considered as profit all the other items of expense growing out of the holding must be met. A great deal has been written and spoken about the demoraliz- ing influence of the after harvest dumping of cotton on an already glutted market and the importance of credit to enable the grower to hold his cotton for a more orderly marketing has often been stressed. As a result the holding movement has been more extensive in cotton than in any other of our staple crops. And, despite the disastrous experience of 1920 and subsequent years, the sentiment favoring the holding of cotton for higher prices under the guise of orderly marketing is well nigh universal among the growers and among the officials who come in touch with the industry. The Year Book, in referring to the warehouse, says: “It is a place where cotton may be deposited under conditions which enable the owner to obtain money in advance upon it until such

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