The report mentioned quotes approvingly a table prepared by the National Industrial Conference Board. showing the purchasing power of seven cash crops for the four years. 1920 to 1923. inclusive. as compared with 1913. to have been as follows: Beef cattle -------------- 51. 75 Oats - --------------- 48.50 Swine ------------------ 62. 00 Barley ----------------49. 25 Wheat ............. -45.00 Rye -------------------- 40.25 Corn 57. 0 Some amelioration may have ensued In the last two years. but the increase. If there has been any. is without significance. This remarkable disparity between the range of prices of farm products on the one hand and that of commodities generally. and particularly those the farmer must buy. or for which in one way or another he must pay or help to pay. is attributed. in large part. to legislation. reference being made in that connection to the tariff. according the protected manufacturer the opportunity to raise the price of his products. the immigration legislation. restricting the supply of laborers and increasing wages. and railroad legislation. or other governmental action. through which freight rates have been increased. It will not be overlooked that all industries suffer alike from restricted immigration and increased transportation costs. Industrial combinations that multiply despite our laws. neither frowned upon by an aroused or vigilant public nor prosecuted with anything like the vigor or determination with which they were once followed. succeed in passing the added burden of increased wages and higher freight rates. or most of it. along to the ultimate consumer. including the farmer. Domestic competition being eliminated by the consolidation of producers. and shielded from foreign competition by the tariff. they may regard increasing costs with relative indifference.
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immigration