, 1875-07-26

IltE EUAUtEaH 8hEhuS4 uEEo aAh1ta1As
Tho statements sent l'y cablo. an,l pub
lislse,l iu this issuo Of TIN: TRIBUNE, conccr'
ing the condition Of Tho European wheat crop
in countries which compete with us in sup
plying tho various foreign markets, Eutli-
ciettly ACCOUNT for the recent advance in
whcnt. mud is producing tho samo effect in
England aud Franec, tic cntiro advanco in
wheat iu those countries being, It is stnted, 8
sli!lings PR quarter, which is equivalent to
.' cents i'll gold per Lus'cl. We arc now
| enabled to Judge of the condition Of the
| European crulH with q sufficient degree Of
accuracy TO forecast the future demand upon
| American flrentlstuffs. In England, tho
almost incesshnt rnina and consequent Hoods
hsys produced " almost irreparablo damage
In Hungary, which is one Of our strongcBt
wheat growing competitors, owing to storms
| md floods tho crop will probably be light.
In Southern 1susaia, which ID our strongest
cusupetitur, tho drought and worms
hive seriously Affected tho crops. tn
l'rnnco, tho terrible floods havo caused wide
spread ruin, 40 TINT tl,es country will have to
import largcly il1stead OF being al exporter,
III she wny Inst year. Belgium, with itx dense
population on q small territory, is affected by
the ran,o pluyint CAUSES which havo been
opernting in France. Switzerland also will
be obliged to import moro tlnn usual, dc.
pending nroa Italy md France. Italy has
not been heard from. She usually ships to
91nrseilles Switzerland, and Mediterranean
ports, hit it il doubtful this yoar whether
she can furnish enough for home co..sump.
tion. Austrslin ind tho Daltic provinces
hn,e not becn heard from. Tins England,
France, belgium, Holland, md Switzerland
will cert'inly l'o competitions for tho surplus
of our whoat product, a1ltl we shall llaye only
two important competitions for their supply
aesi,,kt uA,--1luhgary mud Southern 1t,,ssiIA
10 tho extont that they nro short, tho West
will llnyo to nlalso it up, sinoo in
California tho stock is Lighter this
year tAan 11slnl. Tllat they will bo short to
considerable extent is indicated by tho fact
tl.at it il already conceded tint tho shipments
of wheat from Odossa, which in tho Chicago
OF Europe, will 10 very materially 1essoucL
In referring to tho brealstufIs market of
Europe, wheat is always n,entionod because
wheat il in reality the brenlstuf OF Europe.
Hero, when wheat IN short, We can fall back
upon corn, but whcat is the staff Of Life iu
Europe, corn appearing mainly in the form
Of pork, as the people l!avo not learned to
consume it As bread or m1tsh, and when
wheat il touched eyory family in Europe
feels it.
From this presentation Of facts and aymp-
toms 1t ii pretty evident that tho unusually
heavy surplus wloat growth In tho West this
year will find profitable market, anl t1usi
thoro aro brighter times ahead for farmers
and carriers, mud that tho expectation vii
, oven mcced that Of 1873, which was up tt
: that time unprecedented. Tho immense ship
= n,onts in that yenr and tho largo prices oh
10 taintl lclpol this country materially to g
II through tlo panic, and strengthened tn
II faruarn greatly. last year, however, tllcr
+ much less wseat WIS shipped anl less VII
ID obtained Per bushel for It. Tlors is over
u, Indication HOW. that We shall ship moro thu
~ III 1878, ind roallxe highor prices, so that tl
i'll surplus Of profits will exceed That OF 1871
20 TINS relieving our importing merchants fro,
tho pressure OF their heavy balances in FL
rope. W. have alrenly shipped a57, ,oo0. 90
e. Of gold iu tho htyen months since tho lst {
8. January, which caused tho increase In Il
ri price Of gold, or rau,or the depreciation
"a gruenbacks, Tho 6ealo IL turned, loweye
ID aud upon the strength Of these Eusopes
ut promises groeubucks are ueain rising In valu
+. Should these expectations be sealize4l, Ri
Or should the hog and eorn crops sy1npathi
Or with whsat, mud tho cotton crop fulfill Il
IT, expectations now indulyed in by The Sout
re gold will be very low, and 10 left in Il
to hands OF brokers to exchange for g.ccnbacl
vt Instead Of heiug exported to Europe iu su'
- yast quantities 10 pay balauces, The NJ
M York Times says: "1n 1879 the balance
ul Imports over exports Was about tifty-six mi
ir- ons. year later, thanks in gEeat part
for | tia euosmoua sAitlpjcnta of bfeadbtufs [