Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-11


respect the season has been such as to
bear out the sanguine anticipations
entertained in every county of the
State.
1t is matter of serious interest to
our farmers t. know that thu most re.
cent accounts from Europe show a
somewhat unfavorable prospect fo- the
abundant haryests hoped for one month
ago. Making due allowancefor all con,
tingencies, it would appear safe to ae
cept as correct the belief that the Euro,
pean crop, as a whole, will fall consid
erably short of what has been hereto
fore predicted. As to Canada, the
recent full and careful reports of the
Toronto Globe would seem to indicate
that the winter and spring wheat Gro.
Of the Dominion will average about
with those Of the United States, while
corn, fruits and hay promise less thar
an average yield; oats, barley, peas and
root crops an abundant and increased
harvest.
In the United States, the report:
show no change except for the better
The Nel0 York Bulletin says that Iatel
estimates, as a rule, confirm the Older
ones, and it is generally conceded that
the ,inter wheat crop viii be not les:
than twO-t thirds nor more than three.
quarters of an average yield. Yet
there is the important fact that an es.
timated one-third of the last crop is
still held back, mostly in the hands Of
the farmers, who are, and have been
boarding since the speculation of last
spring, by which the price was run up
so rapidly and SO far beyond the rrla-
tive value Of spring wheat as 10 virtually
take it out Of market. For since that
time there has been no material break
in winter wheat, while spring came
down sharply under the panic infu-
ences at Chicago. This, of course, viii
make MP the deficit in the present crop
of winter wheat, because at the incom-
ing Of the winter wheat crop Of last
year, the old stock was mostly gone.
This fact must be borne in mind, as it
is likely to be of much Importance III
making up estimates, and more than
likely 10 be overlooked. AS TO the
Southern States, in addition to there
being a larger surplus from that source
for shipment than usual, there viii in
most States be a supply sufficient for
home consumption, which viii virtually
close the Southern markets to the
spring wheat of the Northwest; and, it
may be added, this is largely true Of
other cereals IN the South.
As to the spring wheat crops Of this
country, the general estimate is in
favor Of about an average yield, al
though it is regarded as likely t. be a
trife under rather than over that
standard. The corn crop of the West
ern States does not on the whole look
So promising as wheat, although late
aud warm autumn may still bring up
the apparent deficit to large extent.
Oats generally promise well.
The harvests Of the Southern States
and California are now So far progress.
ed that the estimates from those Sec
tons, so far as wheat goes, are now re.
duced to approximate certainty. There
has been some damage, however, by
smut in the South, running through
Virginia, Tennessee and Kentue Ky
and by wet weather and heating in
California, which yet remains to be
estimated. 1t is not considered very
serious, however, and the former pub
lIshed estimates viii probably not be
much changed by the final result.
From these brief summaries Of the
condition Of the crops Of the Old and
New World, it would appear that while
there may be a sufficient prospective
decrease in yield as per former est.
mates to warrant higher values In the
future, there are no conclusive evi.
dences Of such a fact as yet. For
while they have served to stimulate
speculative buying in European mar
kets as well as here, it has been but
momentary, and upon the impulse OF
the instant, rather than upon reliable
and conclusive information, or even
fixed conviction of any certain radical
change In the situation. 1t is but
Just to say, however, that should
the present appreheRsiOns give
place to realizations, there would
without doubt be an advance in wheat,
for the reason that all conditions for
low prices have been discounted for the
last month or more until wheat is
about as Low as it is possible to go IN
der any circumstances. 1t is, there.
fore, in just the position that any and
all news unfavora5le to the yield will
have an effect, greater or less, as the
facts may seem to indicate, in sending
values up. This is the more apparent
from the fact that it ia the lowest spec,
ulative staple Of farm products. and is
more inviting to idle capital and opera.
tors than anything else appears to be
at present. The other cereal crops
seem to attract little interest as yetfor
the future. q.
PERHAPS the fact that, in an inter,
national match Just before our team
reached I. Gland, the English beat the
Irish and the Scotch beat the English,
may account for the delay in arrang ing
the proposed test of skill between the
English and American rihemen, at