The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1876-01-26
The Price of Wheat.
MAzEPPA, Jan. %. 1876.

The Price OF Wheat.
MAzEPPA, Jan. ~, 1876.
Ed. ADMINISTRATION me space in
your paper for few thoughts. I re-
Gently listened to an argument between
a farmer and store-keeper. The
former owed the latter bill and pro-
posed to borrow money to pay it, as the
merchant was in actual need. The
merchant inquired:
"Why not sell your wheat and save
the interest
To sell my wheat now l must take
IS cents bushel for it, but if I keep
it until June, five months hence, can
probably get $l.l0 per bushel for it.
have 1000 bushels to sell. At pres
ent prices this will bring but $1,000;
but if I hold it I hope to get $l,76O, or
an advance Of thirty per cent. on the
present price. can easily borrow the
money I need at Is per cent, and,
perhaps, at IL. So, you see, I may
make considerable by holding my
wheat"
"But what makes you think wheat
will be so much CHER in June? For
my part, l do not believe it will be.
think you will have to sell finally at
$l,00 or even less.''
"Well, it seems to be the opinion of
good many that wheat will 90 up, and
as their predictions heretofore have
come true, I think we ought to trust
them now. This is all the reason can
give you for expecting rise.''
cit has often struck me that you
grangers ought to have more reliable
information about the wheat market
than the mere guess work Of few in
dividuals: who have no better resoul ces
Of information than the rest of us.
Your Order extends throughout this
country and Canada. You have Nation
al and State officers, to some of whom
you pay high salaries. Why not make
it the duty of some one Of these to gath
er reliable statistics each year about
the crop of breadstutfs :? With very
little trouble and expense you might
know, within few thousand, or even
within few hundred bushels, how
much breadstuf was raised, and thus
inform yourselves accurately as to the
supply aud demand. Taking this and
the condition and prospects of the mon.
ey market into consideration, you would
be able to calculate the value of you,
grain to a nicely.
"Then, in times like this, when lead.
ing dealers in the great wheat markets
of the world are working "a corner on
you and trying to get your wheat 70,
much less than its value, you could
easily circumvent them. If some Of
you must have money, organize banks
for deposits and loans amongst your
selves, if the local banks can't or won
accommodate you on fair terms, anc
lend to the needy, taking their wheat
as collateral. At first, you might have
to build grange warehouses, and be a
considerable expense, but not probabl,
half as much as you now lose every sea
son by being at the mercy Of specu
lators.
"One thing, which you farmers dom
seem to appreciate, keeps down tn
price of wheat and gives speculator
the advantage of you. That is: tina
the wheat you store in dealers ware
houses and refuse to sell is general.
really thrown upon the market at once
and contributes to depreciate the value
More than this it is counted against yo
twice. Having gone forward to msrke
it is included in the quantity Of whea
shipped; not having been purchased q
YOU, it is also listed with the quantit
in first hands. / mean that the leadin
.speoulators count it in this way in orde