The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1875-10-18

prices, which resulted in the largest supplies
OF foreign wheat we have ever received. The
crop of 1874 was in all countries abundant, and
Notwithstanding the great fall OF price, it con-
tnued to come to us with little stint. But in
those countries which yield MS the largest sup
plies the present crop is reported to BE- at best
but meagre. and we shall have to draw rather
from the surplus of the abundance OF 1874,
than the harvest OF 1875. From Russia the
supply will probably continue TO be liberal,
and Germany Seems likely to yield full share.
These two countries, the bulk Of whose pop
ulation live chiefly on rye, export respectively
to Us on an average one-tenth and one-elev-
enth Of their wheat. France, which is a much
larger grower Of wheat than either, has Of late
years been .ble to spare us but a fOrtieth part
of her produce. The great crop Of 1874 is
reckOued By French authorities to have been
equal t. 10000, 900 quarters. The home con-
sumption is nearly equal to an average crop,
France with nearly lO,OOO,OO0 quarters on
hand, minus l,OOO, 900 quarters. Deducting
this ana something for the deficiency of the
present crop, there would appear to be a very
large stock to be drawn upon at all adequate
price. for France, accustomed to our four years
average price OF Sos. has sent us less than a
tenth Of the estimated surplus OF her great
crop OF 1874. The power Of holding over so
large surplus implies a greater degree of
wealth among the small French cultivators than
we are in the habit Of a,tribnting to them, and
| am therefore disposed to think that the sur
plus of 1874 has b.en overesti,nated. For, al
| though an increase OF i0,0,O,OOO quarters
on the great wheat acreage of France is both
| probable aid possible IN d very productive
| season, being little more than four bushels an
acre, it is hardly conceivable that France, so
much Impoverished by the late war, could
afford to wait year for higher prices on a
fourth OF her whole wheat crop. The largest
supply we have received from France in any
| year since 1860 was 500, 900 quarters Gin 1866
at 5Os.), and, with this experience, fear il
would not be safe to rely on more than this e2-
ceptional quantity for the coming year.
My chief apprehension is with regard to the
supply from the United States and Canada
| From that source during the past three years
we have annually received between six and
seven million quarters Of wheat, which is con-
,iderably more than one halt Of our total i'm.
ports. Should this fail us in any material de-
gree we might be pnched. About one million
quarters Of the old crop was reported to bt
available for export, at the principal points O.
accumulation in the eastern states, on the evt
of this year is reported to he short, and is no
expected to afford more than another million
quarters for export. Private advices OF my
own from Chicago, Of the oath Of August last
speak of this years yield of whea. III thu
United States as 25 per cent. short OF the pre-
vious year, and higher prices and diminished
exports are anticipated. On their INN ems
wheat acreage "a .OO0, 900 deficiency Of ever
one bushel an acre counts up heavily; and il
view Of not improbable shortcoming in thi
j quarter let us welcome the supplies which on
nearer neighbors in Europe seem at presen
anxious to press upon us