The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-01-15
A BuLLISm VIEW
or the Price OF wheat and Cotton-The
Formerto Sell at Much Higher Prices.

or the Price OF Wncht anu eottoh- a"e
to Sell ut Much Higher Prices.
New York World Of 18th.
In connection with the great grain block
ade at Chicago which is just now at
tracing so much attention, the views
OF Mr.. Rufus Hatch, as set forth u
fortnight ago in an interview published
at London, may be worth citing, particu-
larly as in the course Of this interview, a
partof which was yesterday reproduced
from the London 7ruM of January ] In
these columns, Mr.. Hatch bestowed high
praise on the abilities Of Mr.. James r.
Keene.
After setting forth his belief that il "the
English consols yielding 8 per cent are
worth 98, our 4 per cents are worth l20,
and more" Mr.. Hatch was asked about
grain and cotton, and replied as follows:
Q. What do you think OF the grain mar
ket2
Mr.. Hatch-0ur wheat crop was largely
overestimated in some places. For ex'
ample, in Minnesota the local press brag:
ged OF a crop OF about iorty millions OF
bushels, whereas that State had but little,
il any, over twenty.iour millions; how
ever, the aggregate from II end ol
the Union to the other was q superb crop,
aud averaged an excellent quality. On the
other hand, Europe has required many
times as much as she ever required be.
fore; the amount has not yet been accu'
rately estimated. Their crop OF 1870 has
been a universally deficient one, small in
quantity and poor inequality, and only for
the Circumstance that we had good crops
in the United States, this year, rather ex'
cessive than otherwise, there would have
been famine in all Europe. As there
Is now q very close imitation oil
famine in some portions OF 1t,
our farmers have delivered probably sc
per cent OF their entire harvests; it has
either been sold TO Europe or is now In
sight. These statements are facts; any
writer up or writer down does not change
the situation. Especially would this be
more than true with any adverse coutin-
gencies to the next years crop, either here
or in Europe. The United Kingdom and
the Continent will need from seventy to
eighty million bushels more wheat than
can now be seen or calculated upon from
other wheat-growing countries. We have
not much more TO give them; they will
have to use some other kind OF food. I'm
der the most favorable circumstances up
to next Harvest, / expect to see wheat
s. so per bushel before another harvest is
made.
Q.-What are your views about cotton?
Mr.. Hatch-0ur cotton crop, as shown
by the Bureau OF Statistics at Washington,
is about 100000 bales less than last year.
Our exports last year were about 100000,
our home consumption about 100000
bales. 1t Is fair TO estimate that from the
depression in the trade throughout the
world the whole world is bare OF manu-.
featured goods; especially is this true in
tins country, il we take first into account
that every factory, warehouse and coun-
try store here has been emptied OF manu-.
featured goods. From the increase oil
trade arising from our unparalleled pros.
perity you may estimate that we shall
want 40 per cent. more for home con-
sumption than we did last year.
This would require 640,0O0 bales
more than we used last year; add to
this the 10000 bales short in the crop and
you have deficit for export Of nearly q
million bales. Then another factor to be
considered in the future is tho extensive
exodus OF negro aborfromth cotton pro.
ducing States to the Northwestern States
and Territories, and that exodus, to which
attention was lately called in the United
States Senate, has only just commenced.
Taking all things into consideration, you
may expect to see cotton sell very much
higher-at least50 per cent above the pre-
sent prices, 10 say nothing about the con-
t~ingencies that may happen to the next
crop.