Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1879-08-22
TIE wheat Crop asa Market Pros.
pe(t.

This will doubtless be the turning
month in the whest market Of this
country aud Europe. Unless there il a
very visible improvement in the weather
10 western Europe during Jaly. the
prospect il that the continent will reap
. disastrous snd excepiio- al grain crop
In Enxlsnd the Mark Lane Express.
July 9th, st,tes ihst the agricultural
prospects cause grave srprehensi"n.;
that should rain continue the hay crop
viii be useless, excep, IS manure; tina,
the condition oi wheat |. uniml rnved;
that barley in heavy land is nesrIy
ruin d; that n ahi but the speedy
advent Of sunshine can prevent NJ al
most general fixture Of the principal
crops ths., in consequence "f this con-
diiinn Of thing. snd :he light SUPPLE.
in EDglaDd. whest hsd improved
shilling per quarter in the maj nri'y Of
country markets; but that despite the
armns . Of holders il hsd been d fieult
70 establish any advance for home
grown samplet in London in the face Of
the liberal sIrivaIs and the low price.
Of foreign varieties; that previous rates.
however. we're we'll eupporfed. especial
y for choice parcels, and the tendency
wss rsther towards an advance than .
decline.
The in,sllieeuce from France j. Of
similas unpr"pi'i"us weather to that
experienced in England. II was ex
pecsed that from.8O 10 100 millions IL
bushels would Re needed 10 reinforce
the home crop OF that country. Tn.
Bank OF France was taking measures
20 Strengthen it, stock Of gold iu an
ticips'ioo Of 90 outflow for the purchase
Of grain.
In Hungary the heavy rains had
dons ersat damage 10 the growing
crops. while in Ku.eia the corn beetle
and generally bad season have rem.
dered the agricultural ouslnok extreme.
y dubious. Altogether. unless an i'm.
mediate change should take place, Flu.
rope is threatened with grain crop be
GOV tho average.
AL that keeps prices Of grain down
10 Europe to day 10 the fact that the
desrness of money snd the cheapne.s
Of other property in the Unit d States
10 compelling ~ 10 deliver to Eu: ope
1t prices fixed there.
L,oking n our own country. on the
other hand. We find our crop prospects
most encouraging. The winter wheat
Of the West 10 generally secured 10 ine
condition. the Spring cr"p promises
we'll, while the GRIP OF corn in inns,
sections. unless n IN. event ot some
untoward happening. will he enormous
The agricultural bureau 1t w sshinrtou
estimairs the entire yield 1T TIE coun.
try y, $50 millions OF bushels Of wheat
This il short OF last year. but il i.
ola med BY many persons that the sup
ply Of old wheat yet in the hand. 81
producers end the increase in the visi
bic supply over that Of last year, viii
make up the deficit.
Thus, while Europe is threatened
with serious deficit, the United State,
10 assured of an shundont supply and ,
magnificent surplus for expert. /
rests with ourselves. then, whether ",
will realize fair values Tor thi. surplus
or whether We will all"w the values !.
be 6xed BY the Frnnch aud British
banking institutions. The Bank O
France has already sounded the ,ocs,,
ofalsrm BY taking measures to strength
en- ito stock Of gold. but il can onl,
do this By enhancing the value OF none,
and dcpreciat;ng thst Of all other prnp
er'y; in other lords. by turnin tn,
exchanges in favor ri France ,ha, i
By .shsring every other description 0
property but M ,ney cheaper than pre-
viou.ly. The London Times cepre
oates this movement NJ premature. an,
recommends Franc, when the denIsn,
fnr grain Is selt, 10 trust to the ssle .
American securities in order to secur
United Safes exchange, aud in ,hi
way 20 prevent the expected aud feare,
outflow Of gold.
Now what should be our policy i
view os this anticipated English an
French movements made 70 arrest n
ou,dow Of gold. Tor England win b
conn elled 10 follow the lead -of Franc
in this line OF action! 1t certainl
should be to let France have the pol
II shc wants il. We cannot proven
her taking that, II she bids sufficient
high for il. unlsss the secretary Of III
treasury should continue TO max
money dear in the United States
locking up so much Of it ot all desert,
tions in the treasury. But th,s wnui
b only to make Ill descriptions ,
property in the United States. incluc
ing grain, cheap. which is just whs
tia French and English fiaanc,ers wan
and what We ought not 70 want. The
do not care how dear gold lie. for that
what they will have 20 give for whea
in the last analysis or guild b. a,
ilg debts. But they do want whes