Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1879-08-13
The Markets for our Surplus
Cereals.

u uC AOh WV 800
Cereals.
This week we publish large num-
Der of supplementary crop reports from
various parts Of the country. A few OF
them were received just as the last
issue of the Rural was going to press,
and the remainder have reached US
daily since then. While furnishing
fuller information with regard to the
outlook for the next harvest, they do not
materially alter the outcome OF our last
weeks summary. The later, however,
the date at which they were written,
the more iubilant are the views the
writer's take of the crop prospects. VI
late the weather nearly everywhere
has been highly favorable to the FAR
mers' hopes, and should it continue SO
for a few weeks longer, the prices OF
AGRICULTURAL products, not their quanti-
ty. will alone be matters for anxiety
As there is but little doubt that the
Weld of our various crops will in the
aggregate be at least as heavy this sea-
son as last. and as the home comsump'
ton cannot have been materially IN
creased, our surplus for expectation
will probably be fully as great from the
present as from the preceding harvest.
II is therefore a matter Of no small I'M
portance to learn what are the pros
poets of crops in those countries whose
agricultural products come into compe-
tition with our own in the markets OF
the world.
Throughout nearly the whole OF Eu-
rope the past winter was the severcst
for the past twenty years while the
saring and early summer have been
more backward than at any time within
forty-two years. Violent storms OF
rain and wind have greatly injured all
crops here and there throughout the
British Isles and along the Atlantic
coast of the Continent; while dlsas-
trous foods have desolated large areas
of country IN France, Italy and Aus
tra. Although owing to the back
wardness of the season and the unusual
variability of the weather this year, 1t is
as vet too early 10 form any definite
opinion with regard to the crop pros
pects on the other side Of the Atlantic
still it can readily be inferred from all
REPORTS from that quarter that the har-
vest will be considerably below an
average in Great Britain and Italy
somewhat below IN France and Aus tria
fair in Russia, our great competitor IN
wheat, and also in Spain and Portugal
much below the average in the wheat
growing regions along the lower Dan
ube, as we'll as in that granary OF the
ancient world, Egypt. Bismarck 6
measure for protecting home-ralsec
agricultural products in Germany, by
Imposing tax on all foreign imports
have stimulated the farmers OF the Faith
erland to unusual efforts; but there also
the season has been so unfavorable thai
little if any thing more than an average
crop can be expected. On the whole
therefore, while the European consump'
ton of cereals will be fully as great this
year as last, the supply furnished from
domestic recources will, mostly likely
be considerably less, and the marke t fol
our own surplus therefore be proportion
ately better.
Moreover, it is only within the pas
year or two that our wheat has ioun(
entrance into France, Spain and Italy
Int in the absence OF adverse legisla'
Itiou, it is more than probable that it hal
secured a permanent market in al
these countries. A habit of importin!
grain once formed by any can seldom
be broken. Either foreign competition
lessons the home production, or the Low
prices of the commodity and its conse
ouent abundance induce larger gen
eral consumption, or, instead Of ralsin!
grain, the native farmers engage in irest
industries, the profits on which compen-
safe the country for the national loss 0
money entailed by the impOrtations,
This view of the European agricultur
al outlook has, doubtless, had some in
fluence in holding the prices of whea
, at the present high figures Throughout
the West. But, inasmuch as the spec
ulatiye movement which las led to tn
present bull" operations in wheat a
f Chicago. Milwaukee, and the tributar
Territories, was inaugerated a considera
-, BILE time before any idea could be form
Of what the coming transatlantic har
vest would be, the high prices now rul
ing must be greatly due to the approach
! ing elimination Of the corner" whic
!. Mr.. Keenc and his associates have beel
i, industriously forming since the begin
ming of the year. The vast amount o
, capital at the command of the combina
, ton, together with the EXTRAORDINARY
. low rate of freight to the seaboard
has obtained from the railroad compan
les. doubtless enables it 10 keep up pr
| ces temporarily, especially in the vie'
5 of the gloomy prospect across the water
D but with the arrival of the new harves
=, in market, prices must sink, at least a
the outset, so that it would probabl
i not be unwise for those ofour friends VIII
e are holding back grain, to unload dur
t ing the present era high figures.
A comparison of our own crop re
ports with those in our European lex
. changes is an abundant source Of glaC
mes. and thankfulness. On the whole
If our crop prospects are prosperous, OF
q markets promising, our farmers bouyan
. OF course, there are a few exceptions
but perusal Of our reports will bear
e out in this statement. Our agricultur;
o community is toiling manfully out of III
n slough OF distress in which the natio
has been foundering of late years, an