Public Policy in Relation to the Wheat Market

Extract

Government attempts to raise the price of wheat have been so widespread during the past six years that some such action by the Canadian government was inevitable. The particular form of Canadian efforts was the result of circumstances. Participation in the London Wheat Agreement came because it was possible to make that Agreement, and probably no other international wheat agreement. The guarantee of operations conducted in the wheat futures market by Canadian Co-operative Wheat Producers Limited, the Central Selling Agency through which the western pools formerly sold their wheat, resulted from the special difficulties of that agency at a particular time. Considering the magnitude and importance of the operations, there has been comparatively little criticism, until recently, of government market intervention although lately there has been controversy with respect to the way in which it has been carried out. It is to be hoped that no difference of opinion as to the correctness of procedure at different times during recent years will obscure consideration of the future course of action.