The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-08-17
Wheat and the Demand for It.


following interesting article on the wheat
crop and market, present and prospective.
We publish it so that our readers may learn
the views of an observing journalist, whose
attention is especially directed to the cur
rents and relations of commerce in all its
branches, at the centres of trade, where
enlarged facilities are afforded to reach cor
rect conclusions. We. however, cannot
say that we subscribe to every point made.
All important consideration is overlooked
in the facts taken as the basis of estimates
of prices for wheat and that is the rroba-
bic increased consumption in our own
country in 1SS2-S3 over that OF lSSl-S2, by
reason OF natural increase OF population and
immigration and that growing out of in
creased manufacturing and industrial en-
terprses in all portions of the United
States. If we are not mistaken in our esti-
mate fpresent indications. based upon the
financial condition of the Countrywide in
creased per capita wealth-the immense
crops that have been and will be garnered
for the year 1882, we are entering upon one
of most the remarkable industrial eras ever
known IN our history. The immense sur
plus capital of the North and East, espe-
pecally, IS looking for investments. The
vast undeveloped fields in the South are in
vitng it, and with the constant tendency
to a lower interest rate for government Sc
curities. and the rapid reduction of the
1oh for
| unprecedented developments in mines and
manufactures. Every industry inaugurated
will cause an increased consumption of
breadstufs. for it will give employment to
labor and furnish increased means to pur-
| chase the necessaries and comforts of
| home life. These considerations, which have
| not been mentioned in the article we quote
| below, will constitute an important factor
in estimating the consumption OF wheat in
the United States and the surplus we will
have for shipment. Then, again, we should
consider that the demand of Europe must
necessarily be greater than it was last year.
The high prices of breadstuffs forced the
competing countries to limit their pur-
chases to every day demand-that there was
no reserve supply on hand at tie COM
mencement of the crop gathering in this
country-that the crops there promise in
differently-that the acreage cultivated in
profits in farming operations, and that the
war preparations of England and the con-
fused and demoralized condition of Egypt
one of the most important sources OF
European wheat supply-all point to an
extraordinary demand upon the surplus
crop yield of the United States. The esti-
mate, therefore, of the Journal of Com
merce, for home consumption and foreign
| demand, based upon that of last year. is in
adequate, to what extent we have no means
of knowing-but we may safely say, one
fourth greater than last year. The larger
portion of the increase in home consump-
ton W i'll represent value creating industries
augmented wealth-and the increased
fore ign demand will be that much more
added to the bas of the prosperity which
we confidently look for. With increased
consumption at home and increased de-
mand from abroad, we do not think the
producers of the United States need have
any fears of not receiving remunerativc
prices for their surplus products.
| We publish the article from our Balti-
more contemporary with these reflections,
so that our readers may have the two chan
nels of thought opened to their minds, and
clearly weigh the facts and Influences as
they at this time present themselves. The
Journal says: A
In view of the apparent inclination of farm
| ers to hold back their wheat for higher prices,
it may be well to inquire still further into the
statistical position of this cereal than We have
heretofore done. Two weeks ago we pointed
out that with an estimated yield of 500, 900, 900
bushels, there would be an actual exportable
surplus, after allowing for all home wants for
bread, seed and reserves, of fully 200,000,000
bushels. But, as stated since, it is now believ-
ed that the crop will turn out considerably
above 500, 0O00 900 bushels. and ofcourse what
ever may be the quantity over these figures, ii
will simply be that much more to add to our
surplus and that much more to weigh prices
down. In 1890, the year when we harvested
49S, 900, 900 bushels of wheat, the average yield
for the entire country was a fraction over 13
bushels per acre, and according to the Agri-
cultural Department, the average value from
lifs' MINUS was 30 Gus oushei' making the
yield of an acre produce $123 According to
all reports the average yield this year is the
highest ever known. and MANY are uniting if
81 ,o,,ouo, ,,,,,,o1. 1000
Nv s:selai " oushels pei acre ABOVE 1ooo' winch
nt Wow oo,, ~ ~ .n1 mo on sectlons ooes
tho aIsni,' ~ Doe pioiGitins W pe On
o,iot;n,a 49,, salo slue, W. WIZ oase our cal
ouI,r ona h "pbn supposeu aseIage yieia OF
or y bushels nar po, ao'e .hah IN looo
nroduoa for ~" ' s go e1o 'ats oaicuaIloh, 70
an,onnt roao;uaa o., 4h PaSoo pel aGre' we
ot 1851 Il wou,S n o snI he mon 1ne crop
ca;ve 81 cts NOR 10y ~; neoiy W a. a.
cta in 1850 ~ The sat .n,e fe against 20
oroona IS o ha ,S JH I'LL VI an Average ~
vnr," low hut oa $3.50 pIi ~ we 'nihh'
on ~ Tho saa "s ho; t as''u, IL 10 hiaue
unIr aa,;,a,;,, -. ILLS oi 'o sale sue ana
tho cron 1Thms ,%Snsa .nan I've -esllhlaslng
to sell lie xybaat Of 90 n,s o'm S,S YER aodu
no at OK co hushel i; 1000 i,, 'u ,f'; "1 weil
done Of ,,roSant To- 49, uv % en- .iltS oelns
for Tho o,,,ra nortr,r nf mo,li iis' l,'nu ~
,o;nnho ht !, LII 80 y. oouisT nov yet oo-
tho cnrrant rr;c" Of ~ %o W. W
9 with the same time .n1 1s so'u o''"y NAus'