Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-03-01
THE HERALD.



The pricez of wheat for twelve
months past fhas been an enigma to
business merf aud has set at naught
the calculations of those who are gen.
orally repute.t to be the wiscst on
that subject, All have recognized
the fact thatswith an abundant har-
vest in the West in 1868, aud a larg-
ely increased competition from Cali
fornia and Russia in the markets of
Western Eulspe, prices in this sec
tion must rule low. Yet there was
not one amocg all those who looked
for q decline, who was prepared to
sec prices go so low and keep down
80 perristently. Experienced opera
tors are precisely those who have
lost tho most,money during the past
year and half. They have constan-
tly anticipated that the bottom was
reached, and ;that "tbere must be a
reaction, and have bought according
ly on a decliRing market, only to see
prices go still lower, ond find them
selves obliged TO sell aut at loss.
The feeling now seems to be pref
ty general that wheat must advance
materially between this date and the
opening OF navigation, though it Is
well known shat the stocks in the
British Isles are larger than ever be-
tore, and ths.t the Northern farmers
stand ready 20 pour in fresh supplies
as soon asswinter has raised the
blockade uNon their ports. The
theory upoH which so much money
has already Ibeen sost finds new adj
vocates-that it Is always safe to buy
below the cost of production, if The
buyer can oAly afford to hold for the
rise, which ueust surely come. There
is another r.sason, too, for the renew,
ed expressiea of confidence in the flu.
ture of wh.at. 1t is found in the
numerous Seports of thawing anC
freezing duatng the present extraor
binary winser, which, it is alleged
has extensi't ely injured the wintel
wheat already planted for the mex
crop.
| Ihere Is 30 dlsputlng the TACT tina
the present price of wheat is ruin
ously low fer the farmer but there
is still mucis reason to doubt whether
a rise is to ae looked for very soon
1t must be remembered that the win
ter planting is not usually injured by
changeable weather till late in winter
and that tfse cry of short crop is al
ways easier raised than verified /
should be remembered that the crop
in other countries must be taken int
the accouns-a partial failure in any
one sectiop4 being but q small matter
The improsed means of communca
ton in Euibpe were referred to il
the last relsort of the special Commits
sioner of Ae Revenue as having q,
important fearing on the supply o
breadstuffssIn the principal markets
of the w6Sld. The same remark
might hav9 been made with regarC
to California. At the present tim'
the Liverpool market il still declin
ing under, the pressure of greater
stocks thals can be conveniently stor
ed, and forsy-seven more cargoes are
afoat for tse United Kingdom thar
at thls tins last year.
The only prospect of y considera
bic ADVANCE in the price of wheat il
to be looked for in the direction of (
decrease Ing the breadth planted. =
Whom the s,oint is reached at which
farmers in sthis and other countries
decide tha!is will not pay to raise
wheat ON 50 large scale, we may
took for seaction from the depres.
sion Of ihe:present and the past
Whether t.e point has been already
reached or;not, the future alone can
determine