The railroads of the country not only have price Influencing but price fixing by Government decree in order to assure them of a profit. The banks have price influencing in the interest rates and rediscount rates by the Government through the Federal reserve system in order to maintain the prosperity of the banking interests in this country. Organized labor has price influencing through congressional legislation in the Adamson 8hour law. and the various restrictive immigration acts which influence upward the wages of domestic labor by curtailing the supply of imported labor from foreign countries. No. price influencing is not a new principle in this country. If surpluscontrol legislation is to be rejected on this ground then the tariff act must be rejected. the restrictive immigration laws must be rejected. the Adamson 8hour law must be rejected. the Federal reserve law must be rejected. and all the legislative proposals which influence upward the price or returns of other groups in this country must be done away with in order to be consistent. The farmers in demanding such a plan of farm relief are not asking for price fixing. but they are asking for the enactment of a plan which will result in better prices for farm products. just as Congress has passed other laws which have brought higher prices and larger returns to other industries and groups in this country. If the farm legislation to be enacted will promise or indicate a material increase in farmcommodity prices. it will be claimed that the enactment of such legislation will result in profiteering.
Keywords matched
immigration