R. J. Hammond

Biographical details

R. J. Hammond,  Food: Volume 1, Studies of Administration and Control…

“ Rationing, he pointed out, was a late, not an early, stage of food control. It required an immense administrative machine, which it was not worth while to set up except for an acute and prolonged shortage of supplies, and which it was futile to set up unless the rationing authority was in a position to guarantee the individual citizen his ration, neither more nor less. ‘Rationing assumes control of supply and distribution ... in framing proposals for rationing we are in the position of designing a top storey in the air, without knowledge of the structure on which it will rest’. ”
Source: Wikisource

R. J. Hammond,  Food: Volume 1, Studies of Administration and Control…

“ On the contrary; as a leading grain trader pointed out the Department in 1939, the futures market offered the ideal means of acquiring a reserve quietly and with the minimum of disturbance. All that a buyer need to was to accumulate futures to the desired amount over a period of months, and take them all up in a body when they matured. Indeed, it is at least arguable that to proceed by a sudden coup de main was to invite the maximum of speculative dislocation. On that view, the success of the operations of 1837 must be attributed mainly to the world glut of wheat. ”
Source: Wikisource

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