New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-19
Quantity.
1880. | 1879.
Average
Price.
lssO.lIs79.

The quantity of wheat and flour exported was
almost the same In the two years. But, OWING
to the advance Of 27 cents in the average price
of -four and cents in the average price OF
wheat the value of wheat and flour exported
was 5000, COS, AIS in 1880, against
S193, 207,477 in 1879. The prices during
the first half of the year were much higher,
and during the last half of the year lower, than
during the corresponding parts of 1879. The
movement of corn was remarkably large, and
it Is evident that at last Europeans have begun
TO consume corn largely in place of wheat.
This custom, when once formed, will tend to
prev ent excessive fluctuations in the price of
both grains, because the supply OF COIN which
can be exported from this country when the
prices favor is practically unlimited. In case of
short wheat crop, the rise in price will prob
ably not be as great as is expected, because
more corn will hereafter be consumed in place
of wheat, abroad ~ well as at home, whenever
the price of the latter advances beyond mode
rate limits. This influence will also tend to
prevent any artificial control OF prices, either
Of wheat or corn, by combinations in this cOun-
try. Tho movement OF the other grains IS un-
important, but shows p decrease for the year,
apparently due to a considerable advance in
prices.
Wheat is king instead of cotton. The value
of wheat and -four exported has more than once
exceeded tho value of oDtton sent abroad, While
the value of the wheat retained for home con-
sumption always far exceeds that Of the cotton
so retained. IL is still an open question whether
rs large exports OF wheat can be expected from
the crop grown in 1880, OF which thus far less
Al h.,lf haa t,roho hlv ham lfptpd
made from the crop grown in 1879. Much de-
ponds upon the price, which has now fallep so
lar that some increase in the orders for export
already appears, but it is evident now that
mistake was mado by producers and dealers
I'last fall IN holding back wheat for higher
prices, and oyerestmatjng the foreign demand.
To some extent, the consumption abroad has
been supplied by purchases from other countries
inctead OF this, and to some extent by the In
creased use of corn and meal instead of wheat
and -four. Larger shipments may be expected
later in tho season, but the quantity of grain on
hand and unsOld in this country is understood to
be relatively larger than is indicated by the re-
ported "vsible supply" 80 that the surplus
carried over to another year in this country
may prove larger than usual
A low range of prices for breadstufis is not
an evil, however, so long as it results fIom O
yield so liberal that the farmers are generally
prospecting. 1t may prevent too rapid increase
of production, and do good in that respect 1T
certainly does benefit the working people not
engaged in agriculture, by giving them cheaper
food and it tends to Increase the dependence
of foreign consumers upon this country for
food, and thus to insure a larger demand in
future for the products Of our industry.
Financially, very much depends upon the ability
OF thu country to increase largely its exports Of
bIeadstuffs, for experience has taught that in
this direction only can very great increase Of
exports be Immediately expected. Shipments
of cotton have not increased greatly in quantity
since 1871, and yield q smaller value than in
1871 or 1878. Shipments of provisions and
petroleum, though important and considerably
increased, do not promise very much further
growth at present. But the value of breadstuffs
exported was $79,3S1,187 in 1871,
Bill ASS, 265 in 1875, and $191, 777,s41 in
1873, fiscal years and has since increased to
1926, POI, $50 in the calendar year 1879, and
S263, 295, 357 in the calendar year 1880. II
has come TO pass that tho fina neal condition of
the country, its maintenance of specie resump.
ton, its ability TO make profitable its large in
vestment Of money in new railroads at the Far
West and the prosperity Of its great lines of
transportation at the East, all depend materi-
ally upon the continued demand abroad for
American breadstuffs. The increase in guam
tity shipped during the past year, and the pres
emit range of prices, which invites stin greater
exports hereafter, are therefore sigma of impOr-
lance as respects the commercial welfare of the
whole country.