"When goods are exchanged between countries, they
must be paid for by commodities or gold. They cannot be paid for by the notes,
certificates, and checks of the purchaser's country, since these are of value
only in the country of issue." - Carroll Quigley Philip Danforth Armour is a member of the Board of
Trade which controls the price of pork, bacon,
beef, wheat and grain.
Dealing in futures on the Board of Trade
is a system originated for the purpose of enabling those with immense wealth to
force stocks up or down without any regard to the actual value for monopolistic
Through their control of the Boards of Trade and their
monopoly of the traffic in farming products they put down the price of farming
products until it was impossible for
the farmers to pay off the mortgages.
1755 Tillet establishes seed-borne fungi (Tilletia tritici, T.
laevis) cause bunt that could be controlled by seed treatments of lime, or lime
This followed the observation that seed wheat salvaged from
the sea was free of bunt.
"A few men buy all the wheat
of the country.
There is no competition; the railroads fix the
price of wheat and grains to suit themselves, and grind the farmer down into
They not only plunder
the farmer in the price, but they cheat in the measurement which fixes the
quality of the wheat.
Several years ago, #1 wheat was 90 cents a
bushel, #2 75 cents, and #3, 60 cents a bushel .
The wheat was so
graded by the buyers, that all wheat weighing 60 lbs. and over to the bushel
was rated #1 ; all wheat weighing 56 lbs. and over, #2; and all wheat weighing
52 lbs. and over #3.
If the wheat were measured in the good old
fashioned way in an honest half bushel
measure, most of the wheat would weigh 60 lbs. to the bushel, and be rated as
These monopolists cheat systematically in the measure.
use an oval gallon measure, easily battered, by accident, to diminish its
Into such a small measure the wheat will not pack close, when
poured very gently out of a pitcher into it.
They then weigh the gallon
and multiply by 8 to find the
weight of a bushel.
By this system of measurement little of the
wheat rates as #1; and very much of it is rated as #3.
In this way,
when #1 wheat was selling at 90 cents a bushel, this system of measuring caused
much of it to be rated as #3, which brought only 60 cents a bushel .
When the wheat is sold out of the elevators, where it was under
pressure, all of it would weigh 60 lbs. to the bushel, and be sold as #1!" - LB
The nightmarishly complex wheat genome finally yields to
American wheat crop
is fifty million bushels short.
A syndicate of Cincinnati capitalists
organize capital of $12,000,000 to operate in the Chicago market.
have capital enough to make their operations a sure success under the rules of
the Chicago Board of Trade, which only allows wheat to be sold as it is
delivered into the elevator.
The Chicago Board of Trade then rescinds
the rule which prohibited the sale of wheat except as delivered into the
elevators and allows it to be sold out of the rail cars.
Board of Trade sold the Cincinnati syndicate wheat at seventy cents a
bushel, till their $12,000,000 was gone.
Once the money was gone
the price of wheat went to sixty cents a bushel !
As the wheat
crop was fifty million bushels short and the
supply was inadequate
to meet the demand it was expected that wheat would have gone up to at
least one dollar a bushel !
"Boards of Trade are instruments
controlled at will by the Money
The law of supply and
demand is wholly abrogated as the will of the money power has become the
sole regulator of prices.
The law of supply and demand can only
regulate prices when there is a
free market, and the free
competition of buyers and sellers operates to regulate prices.
no such competition now; the agents of the money power are the only buyers of
Boards of Trade are subdued by them, and answer to their
By the might of capital, they can regulate prices in any
Board of Trade.
The money power controls absolutely the Chicago Board
of Trade, and Chicago regulates the price of produce for the whole country in
utter disregard of the law of supply and
demand, and in utter violation of all the
economic laws that regulate prices." - L.B. Woolfolk
The high price
of flour in comparison with wheat reveals agents of the money power have a
large number of flour mills
in their possession.
The occasional sharp falls in the flour market,
crushing mill owners of small capital, and the purchase of the
flour mills in Minneapolis shows their desire to
crush all competitors and get possession of the entire business.
"I traveled widely through Missouri, and everywhere I found statements that
two-thirds to three-fourths of the farm are under mortgage!
In Iowa, the
same state of fact exists.
In some counties of that state, where farm
used to sell for twenty-five dollars per acre, the farm were mortgaged for
one-third of their value; and after a number of
farms were bought in by the mortgagee
for eight dollars an acre, the amount of the mortgage, all the lands receded to
In Kansas, a very large proportion of the
farms are mortgaged - a much larger
proportion than in Iowa or Missouri.
A banker said to me, "The money
line of these Land Loan Companies always has three points: the agent in the
West, who loans the money; the intermediary in the East, from whom he gets it;
but the third point in the line is always London.
There is where the
money comes from."
Thus, a little bank in Connecticut can loan millions
of dollars every year, when it is only making in its regular business some
twenty thousand dollars a year.
About two-thirds of the farm of the
states of Ohio, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa,
Nebraska, Missouri and Kansas were mortgaged by 1890 for one-third of their
value, on five years time." - LB Woolfolk
farmlands of the Great Plains pass into
the hands of the Money Power much as the lands of the Southern plantations had
passed into their hands in the years following the
1891 28% of all farms are rented by tenants.
By 1900 there are 4.5 million farm
"We are authorizing our loan officers from the Western
States to loan on properties, monies repayable by September 1st, 1894.
No fatal date is to exceed this date.
On September 1st, 1894,
we shall categorically refuse all loan renewals.
On that day, we shall
demand the repayment of our money, under penalty of
foreclosure on collaterals.
The mortgaged properties will become ours.
We'll thus be able to
acquire, at a price agreeable to us, two-thirds of the farms west of the
Mississippi and thousands more east of this great river.
We'll even be
able to possess ¾ of the western farms as well as all the money in the
The farmers will then become land tenants only, just like in
England." - confidential banker's leaflet 1891
The farmer is the man
The farmer is the
Lives on credit till the fall
interest rates so
It's a wonder he don't
the mortgage man's the one that gets it all.
"No Western farmer, at
present prices of grain, and beef, and other produce, can pay wages, pay taxes,
and support his family in comfort - much less pay off his mortgage.
Some of the newspapers are already saying that the farm laborer of the
Northwest must submit to a reduction of wages.
newspapers declare that our
farmers must lose their farm, and let us have the
Tenant Farm System that
prevails in Europe.
Conversing with a banker in Kansas,
a very clever gentleman, I
spoke to him of the great evils that would follow the loss of the farm.
He laughed pleasantly, and said, "I think the farmers will have to lose
When the farms have been devoured, it will be an easy
matter to finish the merchants and grocers of the country towns." - L.B.
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