Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-12
Especial Telegram to the Globe. !


CHICAGO, September 11.-Certain results
touching the crops are now sufficiently
ascertained to admit of definite expecta-
tiocs. For instance, it is now known that
the wheat crop of the country is not only
large one, but its quality is most excel
lent. 1t is also known that the
efficiency in wheat on the other
side of the Atlantic will be an
ordinary one; that it will not be especially
marked either as to quality or quantity
This result indicates two things: that Eu-
rope will furnish market for American
wheat, and that the United States will have
a surplus of wheat to sell. That our COM
petitors in Russia and Austria will have
also surplus from which to partly fur
nish western Europe is undoubtedly
true, but the facts do not
change the ordinary situation, and
still leave the important point to be ascer-
tanned. What will be the effect on prices
of American wheat? The most important
fact governing the question of prices is
that of how great will be the surplus wheat
we will have to sell. The greater our sup
ply the greater will be the surplus which
we can afford to sell, even at the prices OBJ
tainable in other countries, and the ques-
ton of prices will also be affected by the
amount of the surplus which eastern
Europe may have to sell and the quantity
which western Europe wants. The facts
all bearing on the question of future prices,
have no fixed rules guiding them. Last
year we had comparatively little to export,
and what we did export, notwithstanding
the competition from other co untries
brought good price.
We did not have to sell it at such prices
as it would have commanded had the
general crop been full one. The large
crops OF this year finds the stock on hand
in this country scant one, and the stock
on hand in the markets which we supply
reduced to low point The great pro-
gress made in transportation has overcome
the necessity which once prevailed for
keeping large supplies on hand. The trans
portation by sail of grain has so yielded to
the more certain and regular transporta-
ton by steamers, that orders for grain
the wheat in ten days, and hence the
keeping of large stock on hand is no
longer deemed necessity. Under the
comparatively high prices of last year no
large stocks were kept on hand, the Eng
lish market was supplied from time to time
as supplies were wanted. The crop of 1882
is now to be added to the stock on hand at
home and abroad, much reduced in guam
tity. 1t should be remembered that the
annual increase in the consumption of
wheat per capita is an important factor in
the quantity needed for home consump-
ton, and consequently in the quantity of
surplus we may have to sell. The increase
in the consumption of bread
stuffs and other food products
keeps considerably in advance
of the increase of population. This is due
somewhat to the general prosperity, to
the reduced cost of transportation, and to
several other causes. Anything that tends
to reduce the cost of these articles to con-
sumers has the direct effect of increasing
the quantity consumed. This rule not
only increases the consumption per capita
at home, but also increases the consump-
ton abroad. The supplies of food
from this country at prices so
greatly less than those prevailing abroad,
have increased the demand per capita there.
and consequently increased the guam
tity needed to fill the deficiency. This an
nual increase of consumption at home is
even if estimated at a low percentage, large
enough to necessitate an increase of pro-
duction of considerable magnitude: and
this, too, without measuring the increase
of consumption pertaining to the increase
of population by immigration. We have.
therefore, this year an increase of produc-
ton, as compared with that of previous
years to meet the empty grain warehouses
left by the exhaustion of last years crop.
but also to meet the ever increasing
demand at home and in such other coun-
tries as depend upon the United States for
their needed supply. 1t will do, there
fore, to say that we have produced more
wheat this year than we produced in previ-
oVs years. The quantity needed this year
to fill this and foreign markets must be
much greater than year ago and must
go on increasing year after year, and that,
too, without intermission. Nobody ven
lures to say how much wheat in bushels
we have produced this year in comparison
with what will be needed to meet the
requirements for consumption abroad, and
to be supplied from this country. But it |
cannot be seen that the very liberal |
yield of wheat reported and estimated |
as produced in this country gives every
indication that there will be a surplus so
far in excess of what will be needed as to |
suggest that American wheat is to be drug
in the market. There is no serious reason
to suggest the hurrying of wheat to market.
nor any reason to belive that there will be
such surplus of wheat on hand from the
present time to the next crop that wheat
will not pay the cost of storage and prove
a valuable investment to those who hold it.
The 18th Infantry, stationed at Fort
Brown, Texas, is authorized to remove into,
,he interior, as the threatened overflow of
he Rio Grande will drive them into the
Yellow fever district.