The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-04-02
A Formidable Proposition to be
Met and Settled by
Grain Dealers.
How Are We to Continue to Furnish the
Food to Europe's Teen
ing Millions2
The Great Wheat Producing Interests o
the East Proving Dangerous Rivals
to the American Husbandman.

NEW YORK, April 1.-The ,Sun in its
Wall street column of yesterday con.
tanned the following: Everyone says
that what we want now to revive general
business is lower prices for wheat and
lower rates of transportation. They
hear that breadstuffs from other coun.
tries can still be delivered in England
about five cents bushel cheaper than
from the United States, and they
think that all that is wanted to
have our surplus wheat marketed
at once is to knock down these five
cents. They forget that Calcutta, Bombay,
Odessa, Riga, Taganrog, Sydney, Mel
bourne, and every other wheat shipping
port on the face of the globe have every
day New York, Chicago, and San Fran.
cisco quotations refgured into shillings
andpence, with freight, interest and 9TH
er charges added. If our prices 90 down
or up, theirs do the same. Liverpool and
London take care of this arbitrary record,
and not fraction of cent is overlooked
in the relative values of the different
grades of wheat at different ports. If
our Chicago gamblers are so cOnceited
and ignorant as not to pay attention 10
the condition of distant markets, the
great European grain spectators (the
majority OF whom are Greeks and jews
belong to quite different school of BUSH
ness men. There is no eXaggeration in
saying that even the grain merchants of
Russia and of the Argentine Republic are
better posted on the worlds market than
our leading Chicago spectators. Jay
Gould Is credited with saying that the
time is not far distant when the United
States will have to
CONSUME ALL IT'S WHEAT
at home, and his words will prove pro.
phetic unless the very foundation of our
business IS changed. A farmer who
wants pianos, silk dresses, and Dolly
Dee hats for his wife and daughters can
not compete with the wheat-grower of
Russia or Egypt, whose family lives on a
handful OF rice or slice of rye bread.
The merchant who has to use our capital
lied and eXtortionate American railroads
to transport his grain can not compete
with the merchants who use railroads
built or subsidized by the English Gov
eminent for the sake of developing the
country. This grain question is terribly
FORMIDABLE ONE,
and the sooner and more thoroughly it
begins to be discussed the better it will
be for everybody. There can be no ques-
ton that capitalization, overspeCula-
ton, and overmanipulation have been so
far the main causes of the collapse Of
Wall street business. But we have en-
tered now upon new era. Stocks and
bonds will have to stand not upon the basis
OF speculative prospects, but upon the basis
of the foreign demand for our staples. We
have immense regions which so far pro-
duCe only one crop of wheat If there
is no export demand for it there
will be no freight for the roads.
Local traffic, the transportation Of
cattle, emigrants, timber, and ores are all
very acceptable in their way, but there is
not enough of them to pay the fixed
charges upon the gigantic work of par
alleled roads with which this continent
has been gridironed, OF course Jay
Gould understands the situation thor
Oughly, and all his efforts are directed to
one point-to sell out everything he has
got in the shape of securities. He does
it as fast as he can, but the work is hard
one He has all the time to sustain the
market and talk bullish and encourage
ingly on all sides. But those who think
he is bull at heart, or that he believes in
higher prices, are very much mistaken.
The rumor that he was sustaining the
Northern Pacific and Oregon Transcon-
tinental stocks is absolutely without
foundation. All the dealings in these
stocks are clearly traceable to Mr.. d. =.
Morgan, who, as usual,
WILL DROP THEM
as soon as he has made turn of one or
two points. The return of Gould, which
was so anXiously looked for by the
manipulators, has not done them any
good so far. He has not evidently shown
his hand yet,