Mr. KENNEDY (Peace River):
I want to continue it. The wheat surplus became dangerous according to reports about 1929-30. The wheat surplus was gradually accumulating from 1924. It did not become really noticeable until we saw those tremendous efforts at deflation, and intense protectionism spreading throughout the world, and the cutting off of credits to Germany and other European countries in 1929 and 1930. The wheat surplus rose from 471 million bushels in 1921, which
was the approximate wheat stocks in important areas in that year, to 904 million bushels in 1931. That was the world surplus, and it went later to over one billion bushels. I understand, Mr. Chairman, that that surplus has been coming down at about the same rate as it went up, and' that we are holding in Canada a little less this year than we did last year up to the first of August and a little less last year and the year before, if I remember correctly. So it seems to me that the world wheat situation is not such a hopeless proposition as has been stated. The increases in the surplus went up at the rate of about 40 million bushels a year from 1921 to 1931. They are coming down at about the same rate by decreases in acreage and from various other causes.
I hold in my hand the monthly bulletin of agricultural statistics for May, 1935, and at page 152 is shown the world's visible supply of wheat and) flour, and the source of these figures is BroomhalFs. The table gives the figures of the visible supply on April 1 for each year from 1932 to 1935, as follows:
World's Visible Supply of Wheat and Flour
April 1, 1932
595,830,000April 1, 1933
577,640,000April 1, 1934
532,980.000April 1, 1935
From 1921 to 1931 the world surplus piled up, and I have these statistics from the report of the imperial economic committee on the wheat situation, 1931: In 1921 the surplus increased 31 million bushels; in 1922 it '*'"creased. 46 million bushels, in 1923 it increased 117 million bushels, in 1924 it . decreased 159 million bushels, in 1925 it increased 63 million bushels; in 1926 it increased 69 million bushels; in 1927 it increased 69 million bushels; in 1928 it increased 68 million bushels; in 1929 it decreased 49 million bushels, and in 1930 it increased 95 million bushels. The decreases are as follows: 1932-33, 18 million bushels; 1933-34. 44 million bushels; 1934-35. 87 million bushels. Those figures are set out at page 105 of the twentieth report of the imperial economic committee on the wheat situation, 1931, and later figures issued by the dominion bureau of statistics in its monthly bulletin of agricultural statistics for May, 1935, at page 152.
So I submit that stabilization has been of tremendous advantage and there is no indication that our present trouble is in any way permanent at all so far as I can see, not if we have common sense. I submit therefore that the arduous job has been done and done well, and that we are better off than we would have been if we had followed any other policy that has been suggested as an alternative-better
off in dollars. If this country loses some money as a result of this carry-over it at least indicates that the farmers of western Canada have benefited to some extent.
Subtopic: CANADIAN GRAIN BOARD