Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-05

the attempt must be in so far as legitimate
rise IN price of the product is concerned, and
how dlsastrously it must end, allow me to pre-
sent few figures. Our chief customer fer wheat
IS Great Britain. Upon the condition of her
market, present and prospective, depends largely
our prices here. On the 1st Of last July she had
IN store and on the hands OF her farmers at least
zV,U0O,OOO bushels OF wheat Some of her
statsticians make the amount 50, 900, ,OOO, basing
their estimates upon the excess of her crop and
imports last year over her known requirements.
The latest estimate OF her crop this year makes
it over 75,000,000 bushels, of which
at least 65,0j0,GOO will be available for
consumption. Her exports for the
thirteen weeks commencing Oct.
have averaged between 2.COO,O 900 and 4,cOO,0Oo
per week, and may safely be placed at &c, ,OOO GOO
more, and the amount now in passage is 49,.
OoO,CO0. The sum of these items, therefore,
zO,OOO,c0O, 65,0oO,OO0, 10000, 900 and Is,
COO,OO0 bushels equals 16o,OOO,O00 bush
els, which represents her supplies received
and available for the year ending July 1st next.
At the present time her consumptive require
ments per year are 195,000,000 bushels. When,
therefore, she has imported S5,000,000 more,
she will have received all she actually needs
for the year, and this amount she is
liable to get within the next ten
weeks at the rate it is now being shipped
to her. Of course she will not allow her stock
to become exhausted, and will import much
more than her actual needs if she can get it at
her own price, but the above statement shows
how completely independent she is of any COM
bination that may be made here. In this con-
nection it is worth while to inquire as to the
sources from which sheis now drawing her sup
plies for the future. On the 18th of September
there was in passage to her shores 1,825,000
quarters. For the week ending Sept. 2, she re-
ceived 385, 900 quarters ,OS0,003 bushels, and
the statement of the amount on passage
at the latter date shows 1,075,00O quarters,
gain of 100000 busasls. Adding this
gain to the amount received, we have
4,460, 900 bushels shipped to her during that
week. OF this our Atlantic ports sent but
100000 bushels, leaving 2,700,000 bushels,
which must have been furnished principally by
Rnssia and India. There ought to be food for
thought in this for anyone but chronic bull.
Another item to be considered is the fact that
last year Great Britain's consumption of wheat
cause of the failure of her potato crop. This
year all her root crops are excellent.
Now take the French situation: Last year
France raised 343,000,O 600 bushels. She must
have had on hand as surplus from 1881
at least 15,000,030 bushels. Her i'm
portations were 100000 bushels adding
this and we haye 498, 5000, 900 bushela, deducting
for food and seed $50, 100000 bushels, larger
estimate than is made for this country. We
have 6S, 600, 600 bushels carried as surplus to
1883. The government estimate of this years
crop is 102.000,0 600 hectoGtres, or about $780,,
900, 600 bushels, adding the surplus TO this
amount gives US 357, 100000 bushels, or 27,-
600, 600 bushels than she has ever been known to
need before. do not think there is any error
in these figures. They seem conclusive to me,
and I was completely astounded by recent
of the statiscian of the New York Pro-
duce exchange that France would need to
import 80,000.000 bushels this year.
Our situation 1 can state very briefly. We
carried over from 1881 a surplus of about 50, |
900, 900 bushels. The crop of 1892 was $685. |
BOO, 900, making total of 555, ,000,0OO bushels.
We exported of this amou1t las, 100000 bush-
els, and liberal estimate for consumption and |
ooeuS, Is Olu,OOO,OOO bcuuSOLAS ehOoO |
TWO items from the total, we have 100 100000 |
bushels carried as surplus to 1888. Adding |
his years crop, A2O,OOO,OOO bushels, to this
surplus gives us 52O,OOO,OOO bushels, from
which deduct for food and seed 10000, 600 |
bushels, and we have 2OO,OOO,OJO bushels avail
able for export and supplies. I know the experts
will take strong exceptions to the above. In |
he end, however, it will be found o aafer |
guido than the statement OF those who for six |
months past have persistently and systematically |
the facts of the case. To me |
he situation is frapght with great danger. We !
re buying unprecedented stocks ald betting up
N the probabilities Of poor crops next year, or
foreign war. Oar foreign markets are being |
,lutted with wheat from other countries, some |
ine we must sell, and if nsithsr of the above
contingencies occur there will ensue liquidation
hat will make all recent de1linej Som smaller
4 comparison"