The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1874-09-10
THE DECLINE IN THE PRICE ~
WHEAT.
From the Neu York Tribune.

weeks ago we thought it our duty to
point out the effects on the prices of
grain Of full crops both in Europe
and America. The harvest season is
now sufficiently advanced to enable
the positive statement to be made
that the grain crops of Europe and
North America are above an average.
The transition from a high price Of
grain to onc lower than the average
is therefore inevitable. In the Lo7,-
don Times Of Aug. 10, Mr.. n. Kains-
jackson, an unimpeachable authority
| upon the matters Of which he writes,
publishes an elaborate review and e.
innate Of the results of the present
harvest in England and elsewhere.
The principal conclusions arrived at
by Mr.. Jackson are the following:
l. That the British cropwin yield
from fourteen to fifteen million quar-
ters (112,000,000 to 12O,00O,0OO
bushels,) "after allowing one million
quarters loss for blighted and laid
fields, the effects Of frost during the
blooming, and thunder-storms Of the
last six weeks"
2. That in addition to the home
produce, not less than eight, and not
more than nine million quarters (64,-
100000 to 100000 bushels) will
be wanted for the 100000 inhabi-
tants Of Great Britain.
3. That, judging from all accept
ed present estimates, California and
the other States of the American
Union, Russia, Hungary, Germany,
France, and Turkey, will have eleven
million quarters (88,0OO,O00 bushels }
which they must sell to supply the
eight or nine million quarters requir-
ed by the United Kingdom. and for
which that country will be the only
competitor with those buying grain
for speculation.
4, That the average price Of Eng
lish wheat will probably fall below 80
shillings per quarter in the course of
the next three months. THE aver
age for the week ended August Is
was So shillings.]
5. That the price to bepaid for the
wheat imported into England the
coming harvest year, dating from the
LIST of September, will probably reach
total of s110,000,000, against s175,-
100000 paid in the year just ended.
In the London Times of Aug. 14th,
Mr.. James Sanderson estimates the
yield Of the British crop at twelve and
a half million quarters (100,000,000
bushels). But. the facts are su&ci-
emily we'll established that England
will want less wheat from foreign
countries than she has taken for four
or five years past, and that France
and Germany, instead of being COM
peting purchasers with England for
American wheat, will be competing
sellers with America in the English
market.
The following frsm the Mark Lane
EEpress, an English paper which is
authority in such matters, differs
somewhat from the above; but it will
have to be remembered that its arti-
Gle is of a date several weeks previous
to that Of the New York Tribune:
eve have very little native wheat
on hand, if we may judge by the sup
plies brough ght to market from week to
week; and, in point of fact, most of
the large millers can only support
their business by buying foreign
wheat, the home supply being totally
inadequate for their requirements. In
the meantime our exports in the five
months of 1874 have amounted, in
wheat -four, to 60,86a quarters, being
nearly double what they were in the
corresponding months of 1873, which,
still further decrease the deficiency.
Our stock Of foreign wheat is by no
means overwhelming, and we must
have continuous importation the
next two months to meet the consump-
ton. We are likely also to have a
demand for both wheat and -four
from France, that country being in
much the same condition as England
in respect to the home supply. They
have, in fact, purchased on this mark
ct all the season, and as lately as last
week a cargo Of -four was taken al
Liverpool on French account, and re
purchased by the French millers fol
their own home trade, the water Of
their rivers being very short. Unless,
indeed, the impo1tations for the next
two months, both for France and the
United Kingdom, equal the ratio
which has already taken place, there
will be an outcry for wheat such a
we have not seen in many years
Fortunately for us, not only America
and Russia aregrowing wheat express.
ly for the English market, but every
wheat-growing country in the world
notexcludingthe antipodean eeuntrie.
themselves, is now prepared to supply
us whenever the price is high enough
to be remunerative.
"With regard to the rest of the sea.
son ending the 31st of August, We
shall still require importations to the
amount Of at least two million quar-
tiers, and very probably many still
calculate upon large order from