Savannah morning news. [volume] (Savannah) 1868-1887, 1882-09-20
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The high price is, however, stimulating
imports, 80 that there is no probability
of its being maintained. The favorable
reports, not only Of the domestic crops.
but also of those of the continental
nations, must also exert an influence on
the price; for the price of wheat, and, in
fact, Of all other necessaries Of life, are
subject to wide fluctuations, fol
lowing no general rule, except
during very long periods of time-a
fact that was early noticed by
Gregory King. The uncertainty of the
weather, and the difference in product
due to differences in soil, make it
difficult task to estimate with even an
approach to accuracy what the Weld will
be. And these difficulties are fully en-
plOyed, and at the same time complica-
ted, by speculation in wheat-an lnflu-
ence which must not be overlooked, for,
as has been recently experienced in this
country, it may prevent shipments of
grain for foreign countries, and thereby
threaten to precipitate a commercial
crlsis-a result which would only be
fastened and aggravated by our artificial
The facts are, then, that England has
an increased acreage under wheat, a
probable increase in the yield per acre,
and temporary high price. And while
a single year of such conditions will do
comparatively little to reimburse the
farmer for his losses during the past
eight years, yet it will renew his conf
dence, and may be the beginning of an
era of good seasons and crops. But that
wheat can ever regain the position it
formerly occupied among English crops
is hardly probable. In such a staple
the English farmer cannot compete
against his more favorably situated
competitors in India, Russia and
the United States. In this connec-
ton we will do well by reminding
the grain dealers of this country that
India promises to become formidable
rival in supplying the British market;
what she did last year is but a foretaste
of what she may do in the future. 1t is
true her population is enormous, but
they do not consume such high grade
of food as wheat. AS methods of irri.
cation and better agricultural imple-
ments are introduced, and as the country
is opened up by canals, railways, and
other means of communication and
transportation, India may yet become, as
she already has threatened to become,
one of the great wheat exporting coun-
tries. 1t is to Russia and India
that Great Britain must look for
the supplies she must have, if we persist
in cutting our own Threats by speculat-
ing in that commodity to such an extent
as to prevent expectation. Our crop
also promises to be large, and it is one of
the few productions of the country that,
under natural conditions, are not con-
fined to the home market through
vicious tariff policy. That our CONNER
cial and financial interest will suffer
through a decrease in exports OF pro-
ducts, and demand for gold to settle
foreign balances, no one will deny. The
currency question will again come up
for proper adjustment, and what dis
turbing influence such discussion is we
only too we'll know. What important
and grave considerations depend upon
the wheat crop of England and the rela-
tive prices of wheat in Great Britain and
the United States