, 1874-09-01

Tho fall in the price OF wheat, oqunl to 20 pei
cent within tho last few weeks 1as caused not
. littlo anxiety among thoughtful 1nou. It ia t.
matter OF 80 much Importance to tho ontire
country that D further disouaHion Of Its probable
effects upon our business interests is In oror It
is stated that tho wheat crop ia Europe il 30
generally good tint every nation will Aayo enough
for its own wants. except Switzerland and
England. OF course, tic little Alpine Republic
will draw ns supplies from the noighboring
provinces in Franco aud Germany, loaving only
England, for whose markotB America will hayo
to compete With the gsnnarles Of the Meilitor-
ranoan, tho Baltic, and tho Black Seas. Tho sot-
t!ng down Of pslccs is, therefore, inevitable.
aud how low figure will DO reached within tho
noxt year 1t would be presumption now to at~
tempt to predict. That must depend upon tho
actual surplus that TIC crop On both sides Of the
Atlantic will yield, aud tho necessity pressing
upon holders to sell, or, rather their ability to
hold over their surplus for hlghor market
hereafter.
Though wheat Is ono OF our largest aud most
valuable staples, we hayo other products to soil
to foreign nations which will pay for nl their
products which 1t ia really necessary for ua to
consume. Lust year Great Britain and Ireland
took from us 3l,790,876 buehe1s Of wheat aud
20,3aa. .756 bushels of corn. Now If our wheat
should bo driven entirely out Of tho English
market, and eay ono-lalf Of our corn the loss in
our exports would bo about sI5,000,000. The
true course for ous people to tnic, under tho
circumstances, would ho to buy tAat much less
from Europe. They on]y need to leHsou their
consumption OF wine aud ailks to mako Up tho
doilcioncy. Tho total value Of our domcstjc
products exported to foreign countries for the
year ondiug June so, 1873, was s575, ,227, ,017.
Nov. If $4,000, 900 be deducted for tho whoat we
should hayo to hold over II nono Of 1t, and only
half as much corn rs last year, be taken from us
BY Great Britain NO shall still hayo $3.50, 900. 600
to pay for cur interest and such articles OF nc
ccssity aa VIC may be disposed to buy. Among
the articles Of export last year tho yaluo Of our
cotton vas 1921, 7,24a, 900, and = addition to tho
total sum above given s7s, ,905, ,517 in coin and
bullion wore aont abroad. Tho Lesson suggested
~ SA@N Ao@dAS II! tAo kAAIo W hAoAt - kHAk Q4f
people should continue 10 practice economy
Indeed thoy must do 80 nolc'.s uolens.
The farmers, with tho exception OF those whose
whole dependence iB upon tho wheat crop, we're
seldom, 1t oyor in u bottor condition to bear up
under period OF low prices for this staple. For
months previous to the early wooks Of tho presont
year corn bore very low prlco. Largo numbers
OF farmers hold It over for two years, perhaps
mora, and whom the price wont above 10 conts
they began to Bol!, aud now tley have large
amounts Of ready cash to tide them over seaaon
of Impression In tho prco Of wloat. Thoro aro
largo sectlona In Wisconsin and Iowa, and o.
poc!ally IN Minuesosa and Nebraska aud in
Southwestern Dakota, whcro low prIccs for uoar-
" Tho only staple they export will boar worry TO-
Vofoly upon the people. But tteir orops aro 80
abundant TINT eveu Ut low prices thor will not
suffer unlose tho markets Of tho world continue
dopresaea FOR q number OF yoars. In tic meau-
time they will doubtlesa vary their crops to suit
the altered condition Of alrairs.
As corollary to tho aboye tue injustice of
making the farmor pay double prioeH on his pur-
ohases through awindling tariff, whils tho px,co
Of bis principal staple is depressed, IL sueoIont-
u apparent, The nero statement Of tho faoa Il
su12dsa, axeusnoas agalnal our snl4ultous xev.