An Editorial

inflated prices; building control resulted in the wrong kind of building at the wrong place at the wrong time.

"We adopt minimum wage laws. Their result is to throw out of work self-supporting people. We adopt 'fa,ir trade' laws. Their result is to encourage violation and evasion. We adopt laws for the purpose of aiding the farmer, which make the farmer's plight worse.

"The unintended result of loaning on farm products at 900/6 oI parity was to encourage production of the supported products, especially when the market price fell below the support price. The normal effect of fa,lling prices is to decrease production; farmers, if unable to sell at a profit, turn their land to other crops, or let it lie fallow. But when they can sell to the government at a profitable price, no matter what the market, there is no inducement to restrict.

"Another unexpected-though it could have been predicted-effect was to encourage production of unmarketa,ble crops solely for sale to the gover,nment. A large part of the wheat which the government now holds in its warehouses is not millable into flour; it could only be used for stock feed. This cheap wheat is less costly to grow.

"Yet those who opposed such programs were accused of being heartless, of refusing to 'help the farmer.' To be really helpful to the farmer, THE GOVERNMENT OUGHT TO GET OUT OF CONCERN WITH PRICES. Every time the government sticks its nose into price questions, it does more harm than good. "

Thus endeth a very wise pronounceme,nt by a highly