During the spring months the rice market kept advancing until by July 1 the price was four times normal, viz, about $12 per small tou. Then, too, nearly all other market commodities began to follow a similar trend. Farmers, producers, capitalists, and for the most part merchants, were profiting greatly, but small fixed salary people and many others were tacca with a "high cost of living" problem that they could not solve. Coal increased to $950 per ton and cloth, oil, vegetables and fruit increased accordingly. An active and alert Government sensed the danger of such a situation and have consequently taken steps to control prices, beginning with rice.
Tu some districts students and school staff cancelled classes for a day and gave their time to assist the Government to ascertain what rice stocks were stored in city, market town and by private rice hoarders. It was found that the surplus rice stocks were ample and even more than average at this time of year. A date for fixed price of tice on the market was set and now by the end of July rice is sold on the market for $8.
It is hoped that this price will gradually moderate to a lower average as the present rice crop is harvested. The prospects for the rice crop this year is better than average While other commodities are not showing a very sudden tendency to lower in price yet, there is already a general weakening in market prices. There seems to scarcity of farm products; this strong upward trend in prices? Perhaps it is partly due to the fact that gold, silver and copper are not so easily procured now for hoarding purposes, and other commodities are in demand to take their place, rather than merely bank savings.
Text read from the printed page and cleaned; old type leaves the occasional error.