During the war, many people announced that prices in the United States were no longer the result of supply and demand. For a period of two and a half years, wheat prices were held at approximately $2.20 a bushel, in spite of the fact that both supply and demand conditions were varying constantly during this period, and in spite of the fact that under supply-and-demand conditions as they ordinarily work, prices might have been expected to have gone as high as $4 and as low as $1.50, at different times during this period of two and one-half years. Social workers and others of idealistic temperament who have always been pained with the rather heartless way in which the law of supply and demand has worked, were much pleased with the stabilized wheat price, and referred to it as an instance of the repeal of the law of supply and demand. Of course, the law of supply and demand never has been repealed, and never will be repealed. Instead of trying to repeal it, we should try to secure the best type of price-fixing machinery thru which this law may work. Man has not repealed the law of gravitation, but has devised such machines as automobiles, airplanes, etc., thru which he accomplishes his purposes notwithstanding. Our city friends who favor government attempts to repeal the law of supply and demand and to fix uniform and relatively cheap prices should direct their efforts toward the search for a new price-fixing machinery. For arbitrary interference with this law invariably brings penalties in the form of conditions which often are more severe than the condition which it was hoped to improve. What we should strive for rather is a better understanding of the law of supply and demand, in the hope that we may be able to modify the severity of its operation and thus avoid periods of feast and famine, with their unreasonably low prices and unreasonably high prices. Thousands of men in the corn belt, especially the leaders of the organized farmers, should be familiar with the normal, mathematical working of the law of supply and demand. They should know not only when prices are lower than warranted by the supply, but just how much too low. Exact measurement is necessary in order to perceive when unusual factors are at work. The price indicated by a mathematical interpretation of supply and demand may be $1.25 for corn, whereas the actual price, because of a purely speculative drive, may be only $1. It is wise to measure prices to some extent by purely mathematical considerations, in order that we may perceive more clearly when extraordinary forces are at work.