Here you get from January, 1920, to August, 1921, when these value
assassinations culminated, a corn debacle of 92 cents a bushel and a
cotton debacle of 28 cents a pound. If you had known that this value
assassination was en route and had "gone short" 1,000,000 bushels of
corn you could have robbed the corn growers of this land of $920,000,
couldn't you? And some "high financiers" did that very thing. If you
had known that cotton was going to shrink at least 28 cents a pound and
had "gone short" 10,000 bales (500 pounds to the bale) you could have
robbed the cotton growers of this land of $1,400,000, couldn't you? And
some high financiers did.
Take a look at some more value murders.
Wheat No. 2
Red Winter Wool
1920 Chicago Ohio Grades
January 2.63 1.23
May 2.97 1.16
June 2.89 1.00
July 2.80 .90
August 2.47 .87
September 2.40 .83
October 2.20 .72
November 2.05 .69
December 2.01 .54
1921
January 1.96 .54
February 1.91 .54
March 1.67 .52
April 1.38 .52
May 1.56 .50
June 1.43 .49
July 1.22 .49
August 1.23 .49
A destruction of $1.40 a bushel on wheat and of 74 cents a pound on
wool ought to satisfy the most murderous destructionist of values,
oughtn't it? You can make your own computations as to the millions
coteries of "bears" could make--and doubtless did make--out of these
value assassinations.
Have some more views of values on the toboggan.
Penn.
1920 Steers at Chicago Crude Oil
January 15.93 5.06
May 12.60 6.10
June 15.03 6.10
July 15.38 6.10
August 15.35 6.10
September 15.25 6.10
October 14.68 6.10
November 14.57 6.10
December 12.09 6.10
1921
January 9.84 5.79
February 9.31 4.18
March 9.56 3.00
April 8.71 3.18
May 8.42 3.35
June 8.09 2.65
July 8.40 2.25
August 8.77 2.25
When you grease the toboggan with $2.81 a barrel on oil and $7.16 a
hundred on steers you can slide a good many millions of dollars into
the maws of foresighted "short sellers," can't you?
Public-domain text, read in full here on John Shaqi.
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