New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-07

pend upon tho quantity harvested IN
Great Britain. France, and Russia. The Rus
alan harvest ia reported to DO q fair one; bet
ter. at least, than it was in 1873 and 1874.
Tn regard to the British harvest we find IN
The London Times of July 26 careful review
| of the prospect in letter to the editor from
that well known authority, Mr.. ii. kains Jack
son. The letter is dated July %, when the
nrospect of damage from the storms and floods
was cloomiest. Since then the weather has
been favorable, and the advance in prices has
come to an end. Mr.. Jackson is of opinion that
I" this season it will be an error to hope much
cor expect little from the British harvest !;
"and, as to prices, there are no chances OF
ether becoming immoderate." A range OF %
shillings per quarter, he thinks, will bring fuli
supplies from abroad. He attaches I'M
| portance to the considerable remainders
Of last years crops still left in France, Russia,
and America. We may explain that an aver
age of so shlings per quarter is medium
n,ice for wheat in England, and hardly SUI
fcient to Justify current quotations in the yar1-
| GUS markets.
After reading the various details and esti-
mates of the damage to the crops, caused
bv the storms and freshets in England, France
| and the United States, we think it likely that
our wheat crops, with the exception of that OF
California have suffered as much as those OF
Western Europe. If the present advance of
twenty per cent over the prices of the first six
months of the calendar year is permanently
established, it is so much added to the cost Of
bread throughout tho world, the wheat farm
ers alone deriving any profit from it, and they
| 4. ~, <1av
sell as they will gain in the price. A few
SPECTATORS may profit at the expense
of other spectators, but we fail to see how
trade is to be stimulated by a general, though
moderate, scarcity of the staff OF life. If the
crops of other nations were short and ours full,
it would help us to pay our debts to foreigners,
but in the actual condition of things the re-
verse is likely to he the effect. Under the
| most favorable circumstances we export only
| from One-eighth to One-sixth of our whole pro-
ducton, and the smaller the crop the smaller
| /, the percentage that can be spared In some
wears, as may he seen by reference to the table
above. not more than three or four per cent is
available for export, even if we take wheat
and -four together.
| In conclusion it is to be observed that owing
to the great abundance of unemployed money
and extremely low rates of interest in all parts
of the commercial world there are unusual
facilities for speculation in grain for those who
are inclined to such operations. The course
of prices during the last six weeks is
proof positive that the grain dealers OF
London, Paris, Odessa New-YOrk, Chicago
and San Francisco are on the qui rire
ard ready to take advantage of anything that
may turn up. Our readers will OF course
understand that any conjcctures made in these
columns as to the future value of any article
relate to its average price, and not to its
momentary fluctuations in the market. We
are sure that June will be warmer than May,
but it is always uncertain whether the first
| the last day or week of Spring.