The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-04-29
WHEAT EXPECTATION,

WHEAT 6A1Uh1AIlVNt
"Tn 1868, out of total wheat crop of 224,
000 900 bushels, we exported but 26, 632, OLA
bushels, or about one-fifth of the whole;
while in 1881, out of wheat crop of 3SO, OO0,-
900 bushels, we exported 1876, 900, 900 bushels,
or nearly one-half of the whole! Is this the
way the tariff helps to encourage home con
sumption of agricultural products! If it is,
had we not better try how a less restricted
foreign trade would work, for while, at
leastp
This is a confession from the anti protection
standpoint of what the protectionists have al
ways maintained that the American farmer can
not regulate the foreign demand, and that it is
the height of folly to compel American agri-
culture to build itself upon so insecure
foundation. The ups and downs of foreign
demand are wholly beyond our control, and
been opened to Europe America can no longer
count on increased demand when the crops of
England and western Europe are short, or are
complete failure. The argument in ia
vor of Strengthening the home market
is, therefore, stronger than ever
If our industries were so wisely adjusted that
the people of the United States could con-
sumo all the wheat produced in this country
we would then be wholly Independent of for
eign consumption and demand The more
nearly we approach this condition of trade
the better will it be for U.S. The vast and fer
flo +orr POW, Of +l,e +r,, hoe +a,unted +ba
people into OVERRIDING the wheat growing bust
ness; and what is now needed is to so build
up mechanical industries as to come abreast Of
progress in the direction of grain growing.
This is no easy undertaking, and it viii re
quire time to accomplish it. The resources Of
nature have made US abnormally strong in that
direction, so now, instead of facilitating the
unnaturally developed function OR organ, the
wise thing to do is to build up the whole body
symmetricallY. Our resources of coal and iron
are practically as inexhaustible as our fields
are imitless, but it were folly to go into the
manufacture of steel and iron to an extent
that would place us at the mercy of precari-
Gus foreign demand. The golden mean of
American political economy will have been
reached when the home demand for wheat is
so strong that no failure Of outside patronage
will seriously embarass American trade. We
have been running on one wheel so long that
there are those who cannot see profit in
anything else. They insist that our great
profits have come from money realized on
ing upon that one ''wheep despite the fact
it is not always to be relied on, and of the
further fact that it is seriously threatened by
new sources of supply. The only reply that
can be made to this is that our wheat has been
too high in price-a fact that our farmers
will be slow to realize-and that we must re-
duce our figures until foreign demand is as
sured. In this direction the free trade theor-
list will be met by the question on the part of
the wheat grower, as to how far the price and
the profit must be reduced in order to bring
about this unvarying foreign demand, and
mand will be worth to the American farmer
when it brings him no profit 1t is an excel
lent thing to grow and to sell great quantities
of wheat, provided it be grown and sold at a
profit, and this point cannot be ignored by
any writer on political economy who expects
consideration for his theories. A profit of ten
cents bushel on 3d. 900, 900 bushels of wheat
is worth as much as two cents on 100, 000 600
bushels, and infinitely more than no profit at
all on 1000, 100000 bushels Or any other
quantity inconceivably vast. Free traders
have based their arguments apparently on the
idea that it costs nothing to grow and to ship
wheat in America and that there is no suffi-
Gent reason why the farmers of the United
States might not grow wealthy on wheat al
fifteen cents bushel, provided they sell
enough.