New-York tribune., 1885-09-22
WHEAT Prices IND EXPORTS.
WHY EUROPE DOES NOT BUY AMERICAN WHEAT
THr MARKET SINCE JULY 1.-THE SURPLUS o

WHY EUROPE DOES NOT BUY AMERICAN WHEAT
THg MARKET SINCE JULY 1.-THE SURPLUS ON
HAND.
re tie Edftor Of the Tribune.
SIR: Twice this season, in letters which you
have published. haYc called attention tho fact that
unwise speculation supporting the price OF wheat
TO such extent to prevent exports. Two months
and half OF tho crop year have passed. and the
price Is still held not relatively but absolutely higher in
New York than In Liverpool. At seven shilngs per
hundrcdweight for red winter wheat Liverpool with
exchange at the present rate the price IA equivalent
less than 0l per bushel sixty pounds Yet In
this market the sold Saturday o. cents
aud for September delivery at 0il2 s. Evidently
tho operators who pay prices believe that Liverpool
and the rest OF the world yet be forced pay what
ever tho United States elses to charge for tho wheat 1t
has to sell Unhappy for this country. the
pertinent has been tried more than already though
never under circumstances little promising for Its
those which now exist.
In the first place. IL should not forgotten Though in
some official tnbalaons the fact is sudioasy concealed
that both Germany and France imported unusually large
quantities. OF wheat during early rart OF this year IN
anticipation OF the change in their tariffs As
quence the demands OF those countries upon the worlds
supply for tue present crop year cOrrcsponGingy
reduced Next the fact observed that the actual
exports from Bombay ana kurrachce from January 10
August were about 100000 bushels larger IN
1851 MORO lhhn 1O cent IOcu IL DO observed
that the crops Of Austria and Hungary, as well OF
Denmark, Holland, Norway, Sweden and Switzerland
reported by the Vienna Congress above the average
Switzerland reaching lJ and Hungary III. With these
facts In mind It is not dcut TO that the British
dealer has his side. when no refuses to
pay moro than 81 cents for red winter wheat I'm tho
middle Of September although It Is persistenty reer
atc Ia his cars. 1t Is this side OF the water that
there Il great deficiency In the worlds supply. Tho
British dealer rcckons that the tariffs will materially
affect the demand from Germany and France although
many speculative statsticlans re ,yon that those
countries will require for consumption much wheat
than they took last year. lie that the
depression In industry only In Britain but
throughout Europe vii. have the natural effect of d
miui-ug tue consumption OF wheat for the tinc II
there should e no advance In price, aud would diminish
to Ncty hucH Ilvtt u tho Ilcc snoih nc
put Finally he i not 80 dun rs 20 be tgnOrant OF the
fact which many American spccu at0rs try to hde that
this cOuuty has ham for sale enormous surplus Uf
old wheat besides los surplus from the crop grown this
year.
How far do the exports during tho crop year to date
support these opinions The official statement has been
the principal ports both the Atlantic and the Pacific
coast Including Hour ~ wheat the quantity exported
against 20 i9526 bushels In l~Si deere Of more
than 30 cout The trade reports show that the ship
September only l,263.539 bushels against
i,2sJ.7IO bushels for the same weeks last year. a
decrease of more than 20 per cent Here l. not only
astonishing decline. but progressive decline which
appears To be gro"lng Win uun'uh rhpduy Last ear
during the two week. OF september about 100000
bushels " wheat received at the Western ports
about 5.DOb.uOO bn-ris were received az the Eastern
ports AMI aDOut i.JOO 900 bushels exported from
the Atlantic ports his year, during the weeks
about I.OuOOOO bushels received ~ the Western
ports. less 5000 Db bushels received NJ the
Eaorr pors apd olly l263,-39 bushels exported
from the Atlantic Dors. 10 seems o. me not i mlt to
read the eou that the current Iriccs preventing
and will prevent the salo of the surpns which this
country has for market As 10 the amount OF that sur
plus. II only necessary to repeat the figures given with
detail IN rryluus letters. The largest consumption
any period ~ year, In this country, i6OS
bushels per odpd durifR the years o great prosperity
ending with lSS2. A. everybody knows. The consump
ton j. large I'm times " serious industrial
dcTfcs- ion. such now have. Assuming that tue
decrease be- only tenth ~ bushr per capita how
ever. surplus latod since the sh0rt crop Of
I0-I caused reduction OF the stock on hand 10 the
min mum, has been less than 20.33-,2i9 bushels.
Any may reckon whatever part Of that accumulation
he prascs added 20 the stock to be permanently
carried The question Is not whether shall add 10 our
stock. but " cOutiuue to hOd grain a such prices
to prohibit ports whether shall add tO the stock
hl q great deal more Than want. W n. o.
Atto lOrk, sept II, l7S5.