Cheyenne transporter. [volume] (Darlington, Indian Terr.) 1879-1886, 1882-06-10

India is always free seller, but will
| low pri ces she consumes more and ex
ports fascinating up the difference
ia specie and other valuables. 1t Il
different with California, whose cror
and surplus are nearly alike, and who
forces the latter on the European
market entirely irrespective of time
season, quantity, or price.
Curiously enough, while the bearing
influence of California has made wheat
cheap in Europe. it has no perceptiblt
effect in the eastern states and Austria
liza. While wheat sells in this state al
$l.60 Genital, it commands an average
Of 1886 Genital in eastern and Aus.
tralian ports. Hence California com
petition, instead of injuring the farm
ers of the northwest and of Australia,
has fallen exclusively on ship-owners,
who in some cases lately have carried
wheat across the Atlantic for nothing
at all, and in one or two instances for
even less than nOthing-steamers hay
ing to pay premium for the privilege
of carrying it as ballast-while from
South Australia the freights just now
are reported to be only Cne-fourth the
ordinary rates. In fact from the stand
point of the western and Australian
farmers California could have obtained
a very high price for her surplus this
season, and in fixing an extremely low
one has done herself an irreparable
injury. AT the beginning of the cam
paign the worlds wheat deficiency was
estimated at from 25,000,000, to So.
100000 bushels, and although this
shortage has been partly made up in
India, a real deficiency still exists,
which can only be made good by en-
tirely exhausting the reserves OF draw
inglprematurely on the new crop. Ship
ments from Atlantic ports, which ag-
gregated 150,O00,0O0 bushels in the
two preceding years, will this
season not exceed the original estimate
of 70,O0O,000 bushels. The Australian
estimate was also within the mark.
The wheat crop Of the seven colonies
which aggregated 36,346,950 bushels
in 1880 and 31,562,925 in 1881,
amounts to only 27,0O0,000 bushels
this season. Hence the export surplus,
which amounted to 2O,0O0,OO0 bushels
in 1880 and 100000 in 1881, is not
expected this season to exceed 10000
600 bushels-the chief deficiency being
in the South Australian exports. Stocks
in the United States, Canada, and Aus
tralia-the homes of 60,000,000 of peo-
v,1n no faI
they were never exhausted before,
while Great Britain and the continent,
which are even now living from hand
to mouth, instead of drawing their
summer supplies mainly from Atlantic
ports, will have to rely almost exclus-
lively on the fag.end of the arrivals
from Russia and California and the
new crop in India. How to make both
ends meet was from first to last the
great problem of the season, so that
the California aud Oregon surplus of
5O,OOO,0OO bushels, instead of being
supeIfluOus quantity to be got rid of at
all hazards, was vital necessity for
Europe.
But while it was not the true policy
of California to be the chronic bear of
the European wheat market during the
last twelve months, it is quite certain
that she will only discontinue that pol.
icy through sheer exhaustion-such as
is now expected to occur in Oregon
long before her next harvest is reaped.
Even in the case of California there
may be some slight interval between
the old and the new crop that will COM
pei inaction ard allow prices abroad to
reach their natural level. During that
interval California may see her way to