Jasper County Democrat, Volume 20, Number 57, Rensselaer, Jasper County, 17 October 1917 — FATE OF THE “FUTURE” [ARTICLE]

FATE OF THE “FUTURE”

Thoughtful students of domestic affairs in this country are just now closely watching the effects of the new government policy of food control. Wrapped up in this policy is the probable - total abolition of the practice of dealing in “futures,’' as applied to food stuffs. It has been the practice Of Americans to unreservedly condemn this practice, and to, in fact, condemn the entire transactions of the great exchanges and boards of trade. However, in the operations of these institutions there has always been a work done that no other agency seemed able to handle. The legitimate grain exchanges performed a very needed task in equalizing the distribution of the food supply, and could not be dispensed with. This is seen in the decision of the government to take over this task, which is now in the hands of Mr. UDoover. Now the country is watching to see the effect of the abolition of the purely speculative activities of the exchanges, known as “futures.” This practice has been for the time being discontinued. Its effect will be carefully noted, and the future policy of. the country will without doubt be shaped accordingly. . If the abolition of the practice proves beneficial to the country in war times, it will most assuredly be .retained in peace. War has already taught us many lessons that are being put into practice and which we will never forget. The fact that the food of a nation may be effectively distributed without the element of speculation may be another lesson that we shall learn. If this shall be the result, then the occupation of this species of gambler will be gone, and the country will take a long breath of relief. It will also be interesting to note how many of the functions of trade will remain in government hands ' after peace comes. We have al--1 ready veered largely to socialistic views of life, and still more radical changes may be in prospect. Conservative views of long standing have been abandoned and more radical measures adopted. For years we have been told that we were

asleep on the job in many respects. Now the awakening has come and no measures seems too daring to ,be tried out. Without doubt many of these will be found meritorious, and if so, the innate fairness of the American people will demand their retention in our scheme of" economy.