The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1883-01-04
Narm and Hexae.
Prospects Of Prices for Wheat.

Prospects Of Prices for Wheat.
Country Gsntls'nan.
We have letter on this subject
from our correspondent Mr.. w. 1.
Chamberlain, secretary of the Ohio
State Board of Agriculture. He
takes certain positions which, as
we understand them, are substan-
TALLY the following, and which we
take pleasure in bringing to the
notice of our readers:
L. The average annual export
price of wheat in New York for fif-
teen years has been $1.3O1 per
bushel. In no one year has wheat
failed to sell in Chicago for a con-
siderable portion of the year above
81, AID in nearly every year for over
$l.15. He thinks unlikely that Thu
year will prove an exception, and
that it is folly for Ohio farmers to
let their crop go now at 50 cents or
a dollar.
2. The average price of wheat dur
ing the 10 years has been higher in
the second half of the crop year
than in the first half The current
year is considered unlikely to prove
an exception to its predecessors.
3. The wheat crop of 1882 Mr..
Chamberlain estimates to be no
larger in proportion to acreage,
population and export demand than
that of either of the four years 1877
to 1880 inclusive, while the crop OF
1881 was sold off closer than was
the case in either of these years.
Mr.. c. writes:
The immense crop of 1879, with
its great surplus, was followed by
the still larger one of 1880. The
two largest crops in our history
thus joined hands to give the
largest export surplus by far ever
known in our history. "Now as
suredly," every one said, wheat must
rule very low for a full year." 1t
started July 1st, 1880, in Chicago
at S6s cents, and averaged only 80
cents for four full months, but be-
gan to crawl up slowly, slowly
| hfO lull 1nonIuS DuO
before the new crop of 1881 was
tready for the market wheat touched
$1.21, and before Oct. 1st it touched
$1.41. The facts are just
as clear now, though of a different
kind and not so strong, and my
"opinion" is just as positive that
there will be an advance, though
not so rapid or so large, unless next
year should have as short crop as
1881, and then the final price will
lun higher, since we must then have
less old stock on hand than in 1881.
A. Increase of population and of
acreage requiring seed should them
selves take our whole crop of 1882
to fair prices.
5. There is a reduction of wheat
surplus in the exporting countries
of Europe and Asia.
6. The wheat crop of the United
States in 1882 has been largely over
stated. We do not gather exactly
what Mr.. Chamberlain puts it at,
but he seems to adopt statement
quoted from the U. S. commissioner
of agriculture that 1.-The surplus can
not much exceed 200,000,000, and
one-sixth of that will be required to
restore to average fullness the local
stocks and farmers surplus which
were reduced at the close of the
crop year as never before"
Z. We copy this paragraph in full:
Wheat is now lower relatively
than almost any other food product
of extensive human use. This will
inevitably increase the consumption
of wheat and tend to advance the
price. need not prove that it is
lower, everybody knows it who can
remember back thirty, or even ten
years. Thirty years ago or so,
when wheat averaged about dollar
IN Ohio, butter averaged 10 cents,
eggs 10 cents, potatoes % cents, APP
pies rs cents, beefsteak, retail, 8
cents, lard cents, ham cents, and
so on. Since the war, but before
gold reached par, when butter was
80 cents, eggs % cents, &C., as at
present, wheat ran up to 50, 50 so,
and even $3.50, May, 1867. These
facts land more might be given),
seem to me to indicate a consider
able advance in wheat prices before
another harvest. But each must
examine the facts ard make up his
mind for himself.