The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-04-14
midas COMPETITION
With American Wheat in the Mar
ke.s of the World.
4 Hopeful View OF the Subject
What the American Farmer
Must DO to Retain His
Advantage.

CHICAGO, April 14-The Times, in its
financial article, thus comments on a recent
article in The New York Financial Chron-
icle:
The Financial Chronicle, of New York, is
rot greatly alarmed at the prospect of Indias
competition with America in the wheat
markets Of the world. 1t is inclined to the
opinion that this will prove to be
a serious matter only 40 long as
we prevent our surplus going into con-
SUMPTION and that AN abundant harvest
here, with a determination to sen at what
our produce will FETCH" viii change the as
poet, In other words, it attributes the
seriousness of the situation rather to 4 course
OF action on the part of American Spectators
prompted 10y the notion that America could
control the wheat markets Of the world, and
force European consumers to their terms,
than to the appearance of competitors able
% drive US from European markets by put
ting the prices below the American cost of
production.
The Chronicle says that "fndia's coutribu-
ton to the worlds supply has been and is be
ing added to largely through 4 combination
Of circumstances which may never again oc-
chr, very material factor being the small
quota America has contributed for three
years Just So the Withholding of our cotton
supply through oar civil war gave undue
prominence TO Ipdias cotton production;
with peace the old relations were quickly
restored Among the favoring circLm-
stances referred to is the fact that India
has had q succession of good crops for several
years, having enjoyed unusual exemption
>
says The Chronicle, and without which all
others would have been much less effective,
has been the ruinous rates for ocean freights
which have prevailed The building OF iron
steamships has been oyerdone, and freight
rates have, in consequence, bcen 50 low rs to
deprive this country Of the benefit Of its
natural advantages as a source of food sup
ply for Europe. Ship-building, however,
has fallen OF, and with revival
of commerce ocean freights must soon
De readjusted on q paying basis, and this
country will cnce more get the benefit OF its
natural advantages Internal transportation
in India has been so far reduced that, as
officially stated the railroads earTlai last
year only 80 per cent en- the capital in
vested. This does not leave room, The
Chronicle thinks, for much moro reduction
ii this quarter. For these reasons that paper
does not looH upon the supply of wheat from
India with any great solicitude, if only our
crops are good, and our SPECTATORS will
leave the market alone
The Chronicles view is not unreasonable
in view Of the considerations it presents, and
further considerations, such as the difficulty
N moving the agricultural population Of
India out Of its ancient ruts, which must IT,
done if the wheat area is to be greatly ex
tended, and if the methods of cultivation are
10 be improved But experience has demo
s1ratel that American SPECTATORS cannot
safely leave India out OF the account IS an
important source Of supply, or proceed upon
the assumption that they can corner a cereal
which can be grown in so many countries,
and over 50 vast an aggregate area, aud with
such low priced labor. If they have learned
that they can not exact whatever Prica they
may choose to demand from Europe, our
/ position as 2 source of wheat supply may
soon be well assured once more.