Martinsburg weekly independent. [volume] (Martinsburg, W. Va.) 1873-1875, 1874-11-07

WHEAT PROSPECTS. Anything
relating to this subject is of
| interest to those who hsve not
disposed Of their wheat crop, and
the following from the Boston
Daily Advertiser will furnish all
interested with facts of impor-
lance. The Advertiser says:
Mr.. A. Kains Jackson contri-
butes another OF his interesting
reviews of the grain harvests and
markets in letter to the London
Times Mr.. Kains Jackson adopts
as the basis for estimating the
probable turn of the market, an
English harvest OF fourteen or
fifteen million quarters, and .
deficiency therefore of eight or
nine million quarters, which must
be imported in order to bring the
country around to the LIST of Sep
TENDER, 1875, with stock equal
to that now on hand. The impor-
tation he past year was slightly
more than ten millions, and in the
year ended Sc ,1tember LIST, 1873, it
was ten;and three-quarter millions
1t is said, however, that stocks in
millers' hands are lower than they
have been in the last quarter of
century, and these stocks when
full should be about FIVE million
quarters. 1t is probable, therefore,
that the importation by Great
Britain the coming year will be
little if any below ten million
quarters, if the home harvest turns
out to be as large as the highest
estimate.
Now, 1t is we'll known that the
European harvests have been un-
usually good in all the wheat
growing districts France will
have a surplus.and Germany, Rus
STA, Turkey and Austria can spare
large quantities. The condition of
affairs which we must look in the
face then, is wider and more
active comprehension for a market
which is not increasing, and at
prices which at the beginning of
the year are very much lower than
twelve ii. 0nths ago. 1t becomes a
serious question for those who are
holding grain what they will do.
On one hand They may retain it in
hope OF higher prices. only to find
that their only great foreign GUS
toner has been supplied without
their help, but on the other hand,
they may hasten forward their
stocks at rate to overload the
market, and cause a very serious
decline in prices.
The latest Gazette quotation of
British wheat was 46S Sd ID quar-
ter, which was no less than lSs be-
low the price at tae corresponding
period i'll 1878, and lower than the
price at the close of harvest in
either of the past four years. Mr..
Kahn Jackson predicts further
fall TO 40a q quarter, though he de-
preeates it for he producers
sake. ii is not unintereSting to
i'arn that the new railways in
Ruseia and Poland are now made
use al for wheat transportation,
and will give tie farmers of that
country ii further advantage in
competing with the United States.
The lac, S and probabilities are of
serious moment to use The pros
pect is that the profits of western
farmers this year will be small
indeed, and while the result will
be to the people at large an album
dance Of chaep bread. we cannot
hel p regretting taat new opp0r-
tunity will be given TO the politi-
cal agitators in the western States.
There is serious lesson in the sit
uation in which they will speedily
fnd themselves. Their industry.
is too much concentrated in one
kind of production, and should be
diversified. AS long as they de-
pend upon the concurrence of
two chances the chances that their
own harvest will be a good one
and the chances that crops will
lurn out poorly in England and on
the continent of EurOpe-they can
have but precarious and uncertain
profits.
The BALANCE OF TRADE IN