New-York tribune., 1884-12-31
TIE WHElT SNPPLT.
WHAT MISCHIEF SPECULATION HAS

|
| 10 the Edftor 81 rae Trtbuhe.
| sn: Discussing the influences of speculation upon
| the foreign conmrrce of the country. I'm cOni-
munication which you published about n year ago,
presented statistics of thc acreage yield. exports
and consumption " wheat each yeir since 1860
showed that tlr average consumption per rdpifn
| yearly Gr fl had hprn fur sixteen years 4 7
| insirls pointed ont how speculation and Artificial
| nfirps had deprived fie pnnniir ~ i'atl ~ We
| fafuign market ani alairl thni nnlpss hsrhis
stuii 10 ,tp,tiiY improve ihh riHhiA NUnii hnte
| ini iUN I about 90, iun,ubn bushels ol Whsat, "
10 einit iienl ~ hmf, ~ he eaiied "tei int" ihn
| pinsnnl pi"p Arar
| hnmn 4rntlumnn interested in speculation strongly
| assarl those Statements un tht hasis ot what
| was then known of the ylod, however, nay estimate
| prepared WIKI known exports Tor only hnlf the
crop yeir, proved only II ,0sj bushels large than
the result of complete statistics for the crop year,
Correcting the estimate now, IN the llght OF the
later Official reports, Wa find that the crop oi 1883
was III 1856. 100 bushels according to the Agrcult
| nra bureau; that the mean population for the crop
year was 56, l3S, ,53l, implying consumption Tor
| food of 2i7.063,90l bushels that the quantity
taken for seed this yoar at 39 bushes per acre for
| -, ,jOOOO acres WAS 53.5l5,0OO bushels; and
that the excess OF exports over imports OF wheat
including lour at l. bushels to the barrel, during
the year ending June 30. was ,6Ol ,793 bushels
In We ght, however, according to the returns OBJ
| tanned BY the Bureau in March, the crop was de-
| hcicnt an equivalent Of 2O,OOoOOO bushels. III 1t
| be supposed that the quantity OF wheat and flour
| carried over To- the new crop year should on that
account he reduced fully 20,O0O.0O0 bushels, there
| would still remain about 53S79,6lS bushels thus
carried over July /. 1t may be added, indcat-
ing that this estimate IS fully low enough that the
| Bureau found ll9.273,Ol2 bushels in farmers
| ban nls Mar, L Loo
visible supply - at lasc and seaboard ports, anu
about - 900 600 bGsbeis Onithe Pacific coast. max
| ing over 16j, 900 600 bushels besides all the grain
held in railroad and other station elevators at sina
| towns. and in the form of Hour. out of this
| lI5.sIO1sJ bushels were consumed or exported
| between March and July |, and about l60OO,OOo
bushels for seed of spring wheat ~ that thero
| must havo been carried over July | at least
! 3J55I 727 bushels bosides all the flour IN the
country March /, and whatever wheat was IN local
| elevators aud in the hands Of dealers IN small
| towns II aeems t. me contrary 10 reason to sup
| pose that less than 53r7H.dl1 bushels al old wheat
| ar n, nour ouu uiyannt remained ~ tho country
| juY /,
| ia this tho nav crop has added, aceoriina ln lhn
Imrrau rporls about OOOoO,ooo bushels NOR"
| than tho Ynd uf lnHI" which would bn
| a1I, ,DlOOnl hnalola ~ abont i.ila hnalola pn'
| e. aero" which would bo hij,iVo,ooO Taking tho
| lnW,nt Hpufn, wa hNa supply of oUil WulA
lmalnla lm lhn current crop yeah
The population. oHn)i .Opo July T. haa been IN
creased t. jnnuny about ! pot cont by natural
| plin nnd iUllip by immigration ~ I've months l'
| llnrrmboi'l. For JHnunty t. therefore, the heh'
| NJ lhc ctop ycat II IA estimated nt 01Ioo1SV
| vc,y low price, increase consumption when people
| have means with which 10 buy. lint the depression
in industry is 80 great that material increase ~
conpinp'ion cannot be- expected Az the usual
ratio. the consumption for food would bo
| 25i. s>G l3O bushels
| decrease in acreage sown t. winter wheat ls re-
ported but the great movement of immigration b
| been to sprng wheat regions. Though the con'
sumption for seed Is likely TO be less than 1t was
! last year, the same quantity may be allOWm untt ntt
returns oi spring sowing are made W.. o3.ol3uOO
bushels On this baais, the quantity tagulre9 @ tor
| home consumption during the year is 3OS, ,lOl 43O
bushels and the surplus lett for export -7o'''oloS
Of this there were exported in five months ending
| with November l3U5j,909 bushels wheat aud
| 81 Sii 4i3 bnsi"l4 wheat. About ~ n00pO0
brshes may he added for the exports IN liecenber,
| sov ~ upj UuD In the half year. There remain
| gbort Ss.7Te. sS bishels tD find market qbfqal
| during thr ok months beginning Ianiiaty ms
seat. with higher ptigs ~ ESQ Wti siliaiist giQT
| niitg ,he hist siy niunts vaS abnri 3liVlVOVV
| eiIl l,,LtNi. lao srttfi tRriit W pii tsqlta"-
| Srh. Il t4l eEeetgi ltr lU'er' it'nfil ~ Nu'
| .,sjN aai ~ 10 taut lNe tfo rHtNNfHrh brf
! t....ts ia laiM+e ihai WitpNt art 'rrHn ~
.sl4ri iA45 30 eVpiii aal irMANl; 'hri t't'!l
s4iaii lerheH HrVN hsN lNe Hsh H''lps ~ eif"' T."
thg speculative Iuatktl9 ~ siHf il't H''i"r ''F
| ,rag 1u NLlai io srl IT,, e.inarineuer % lh"i N9
| have The mHrst yearly aFrra-f nglct ~ lI'Ell"n
ever kn0wn, aud an enormoas Surplus 'ot Hh'EN ~
| buyer, IL present appear append q iahlc siN.h+
| statistics Oi the wheat crop ana movement s'n''
| lobd. lI"lf w. 80 "'
| lmk, Dee. 81, 1851.
| wheat crop, Net exports,
Years. Acres. bush. bush.