Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-04-26
BREADSTUFFS.
What England will Require-StOcks
and Prospective Prices.

From the st. Louis Democrat, April "a.
By our latest files of foreign commercial
papers we discover that the breadstuffs
question is still under earnest discussion
in England, and that no satisfactory solu-
ton has been arrived at thus far. It
issstated that twenty-five thousand quar-
ters of wheat will be required to bread the
United Kingdom for the year beginning on
the LIST of September, 1872, and ending on
the 31st of August, 1873. That the amount
imported for consumption since the LIST
of lest September, the amount produced
in the United Kingdom, and the amount
now known to be afoat for British ports,
added together, make 18,97y,029 quarters,
or 3,920,971 quarters less than will be re-
quired for the year. Here is shown that
81, 1851, 1853 bushels of wheat must absolute
ly be brought into the United Kingdom be-
tween now and the 3lst of next August, in
order that there may be no scarcity. OF
course, few million bushels more than the
exact amount needed will be required to
keep the market anywhere within bounds,
for if the spectators Of either this country,
Canada or the United Kingdom, saw that
there was any probability of cutting so
close to actual consumption as that, the
market would be cornered without delay
and prices forced up to very high point.
In view of these facts seVe raj of the English
papers put this question: "Will the United
Kingdom be able to obtain in the markets
of the wheat exporting countries of the
world 31,967,768 bushels of wheat from
April 1, 1873, to August /, 1882" They
then CLEAN what comfort they can
from the statement that during the
same period in 1871 over 100000
bushels and in 1872 over rs, 000, 900 bushels
were imported. But they do not state that
there are now over II, 0O0, 900 bushels afloat
for the United Kingdom, which will not ar
rive before April 10, and which have been
counted as stock on hand and in sight. Yet
after this 100000 aflost is all in, over
100000 more will be wanted to fill this
bill! Here is exactly where the shoe pinch
es. And now where is that to come from?
What nation has that amount of wheat to
spare outside of America? What price are
we going to charge for it? At the present
moment the visible supply of wheat, includ-
ing the stocks in eranary at the principal
points of accumulation, at lake and sea-
board ports, in transit by rail and frozen in
on the New York canals, is 7, 400,000 BUSH
els. Last year at this time it was S,344,2 1S
bushels. Last year the stock of flour in East
ern places of consumption was much larger
than is now the case, as the market was
advancing then, and Eastern dealers, order
ed freely, whereas, the markets have been
declining the past thirty days, and Eastern
dealers have only purchased from hand to
mouth, as it were. Consequently, should
IL become certain that the United Kingdom
required 10000, 900 bushels of wheat, even,
between now aud the LIST ofnext September,
prices would be greatly stimulated at all
milling points by free orders of -four from
Eastern consuming points. Consequently,
accepting the statement of the English-wri-
tiers as truth, the holders of wheat have
reason for encouragement. But as we
stated once before, if these British advices
are accurate, why is there not a stronger
speculative feeling in wheat in Liverpool?