River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1877-09-20

menL was maze, anu the caDieBTam was
sent, for the purpose of creating a false
impression on this side, and so break
down our markets. To show how utterly
untrue such statement was l will state
two facts; first, the supply and demand
for the week The Hark Lane ErpreSs was
reviewing were as follows;
Imports and home deliveries ...,,.... 336.25O
Quarters consumption. .s.,ess....... .4llsOOO
Consumption over supply, A, $50 quart
ers, or 35S,000 bushels.
Second, the London Times the very
next day after this cablegram was sent
stated that" the Bank of England had
raised the rate of interest to prevent as
far as possible the shipment to the
United States of gold to pay for wheat"
stating further that England would have
to import more this year than last and
pay higher prices for it.
1 will now glance at our own sight
wheat at about this time last year.
Bushels.
The quantity in sight last year on
Aug. 20. ACKNOWLEDGEMENTS. 1,211S2l
Aug. 25, the present year. ....... 1861, 726
Less In sight this year. 34l0095
California is short. .................l6,0 00000
Us compared Win last year, ana
many estimate. II over that quantity.
The English stock in store and
ahoat at the dates named was short
as compared with same time in
lotf........ .......,.,ss......s l0,UJc.52O
Total shortage. ...........s,.A..,3l,5 05, 4l5
at the beginning of the crop year in the
United Kingdom and the United States,
as compared with 1876. In other words
the farmers between the Atlantic and
Rocky mountains must deliver out of the
present crop thrty-four and a hale million
bushels to place England and the United
States where they stood last year in re-
gard to stock. without delivering one
single bushel for home or foreign con-
sumption.
We have large crop, but it is grossly
overestimated. The quality, however, is
the finest ever. raised, taking the whole
country together; but the demand will be
the greatest ever known in the history of
the country. If the farmers are prudent,
and spread their deliveries over the entire
year instead of trying to rush all they
have into market in ninety days, they
will add largely to their income.
Let me illustrate the folly of override
liveries and their effects upon prices.
When the corn-growers and corn-deal-
ers of the west commenced to send
six hundred To nine hundred cars per dav
to Chicago the prices were, with moder-
ate receipts, 4S TO 40 cents-over deliver
les cut the price down TO Al Il to AZ cents
per bushel-la freights were pushed up
q cents, canal freights from Al to 719
cents or over, and ocean freights from
seven pence to eleven pence half-penny
in gold. Let us figure the result:
Cents
Increase in lake freights. .............. 255
Increase in canal freights. ............ 3
Increase in ocean freights gold. .........
Loss caused by over delivery. .......... 201E
per bushel, or ever go per cent. of the
value of the corn to the farmer at his
home market. With one-half of the de-
liveries corn would be selling in Chicago
now, and would have sold for the past
three weeks, at over 30 cents per- bushel,
for it has advanced from 25s.Gd. to 27s6d.
in the foreign markets per quarter; but
this advance and twice as much has been
eaten up in extra freights. This is q sim
pie illustration and one that any farmer
can understand.
Lake and canal freights were far too
low before the advance but an average
delivery of four hundred cars per day
would have kept freight to not over 34
cents, ana canal cents, and ocean freight
pence so al all events saving of 154
cents per bushel would have been effected.
Of q cents by lake, | = cents by canal,
Z cents by ocean, and cents in price, or
151 cents in all, and every one get q fair
freight for the season. Of course, raisers
of wheat suffered in the same proportion.
The lesson is simple. AL rise in expenses
comes out of the producer. Large deliv-
cries raise freight and cut down prices.
They are two-e9ged sword of the sharpest
kind. The remedy is simple. When
ever farmerssee that large deliveries are
raising freight on lake, canal, and ocean
from 25 per cent to double current rates,
stop hauling in your crops at once; this
course will add at least Is cents per
bushels to the value of all your corn and
wheat, take one year with another, for
you lose largely in expenses as we'll as in
prices by over deliveries, aud all deliver
les are over deliveries that so raise freight
and so reduce prices that you are obliged TO
sell at or under the cost of production.
Follow the example of the British and
French farmers-they deliver leisurely all
the year round unless lack ofsupply gives
them large profit.
In nv next / will endeavor to show
the needs of wheel buying countries and
their sources of supply, but the only re-
liable source for the next twelve months
is the wheat-growing states of the west
The latest Mark Lane Express, as / see
by your issue of this morning, at last ac-
knowledges the desperate condition of
the British crops, but goes on to say:
'Our granaries are glutted with wheat.
This statement is a downright and posi-
tive lie. Whoever saw a rising market
when it was glutted with the article on
which a strong advance vas being made
daily. Our lumbermen and ironmakers
glutted their markets. Ask any of them
the result. Have prices of lumber and
iron advanced 'on glutted marketl
Closed workshops and mills, and hun
dreds of ruined owners tell most patheti-
cally the tale of glutted markets. Our
ship-owners oyerbuilt tonnage till the
market was glutted. The result was ruin.
A glutted market means an overstock far
beyond the requirements of consumption.
The very reverse is the case with wheat
in Europe Farmers, dunot be deceived.
Deliver slowly. Over production of lum-
Der, iron, or tonnage, and over deliveries
of farmers produce always have and al
ways will produce only one result-low,
lower, lowest prices, and finally glutted
and immovable. dead market
A Sergeant of the One Hundred ana
Tenth meets q peasant woman on the
train: She" What regiment do you be
long TOT He-"The Hundred and
Tenth She" How lucky Ny son is