"Shall speculators be longer Tolerated?"
--Under the above heading the Columbus (Ga.) Enquirer
It is apparent to every observing men that speculation has much to do with the prevailing high prices.
The old standard of "supply and demand" is constantly referred to by those who apologize for speculation; and it is insisted that nothing but a scarcity inadequate to the demand enhances prices.
This test would be a good one if all the supply was in market for sale.
But the face is notorious that immense supplies of provisions are held up by speculators for still higher prices.
We have no doubt of the truth of the assertion that there was never before half the amount of corn stowed away in Columbus
, as at the present time; yet the article commands a Signer price than it has for many years before.
It has been bought for speculation, and the speculators are still buying, and prices constantly advancing.
That the heavy operations of these dealers have run up the only kind of breadstuffs that the great make of the people can at present afford to eat, to the prevailing extraordinary price, is beyond question.
It is believed, moreover, that the store rooms of deniers contain very large quantities of sugar, syrup, salt, etc., which are not offered for sale at even the high prices now ruling, but are held up for still higher figures.
It is not so much an inadequate supply as the withdrawal of that supply from market, that makes scarcity and high prices.