Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-07-14
Stauutotl Spectator,
WEDNESDAY. JULY IA. 1886.
The Way to Look at 1t.

Reports from the grain-growing States OF
the West and Northwest are daily coming
forward, furnishing carefully-collected IN
formation of crop-prospects. Dry weather
has had damaging effect in some locall-
ties. and both extremes of drought and rain
are reported in others. The Winter wheat
in the main has been harvested. Thresh-
ing has not generally commenced, but esti-
mates of the yield give irregular proper
lions. The Spring wheat is not in as ia
vorable condition as the prospects thirty
DAYS ago indicated for it when it should be
ready for harvesting. Some correspondents
say there will be large falling off in the
yield.
To the producers here in our Valley,
these speculations afford some interest; but
it would require something like general
failure there before the prices at which we
are to sell our surplus could be affected by
the strength we could bring with all the as
sociations available to bear on the ques-
ton.
Referring to the reports which speak OF
partial failures in yield, they should not
have much influence in the general esti-
mate, for the total product of the country
will be immense, and the standard of prices
is fixed not by sections, nor indeed by the
quantity produced in the United States, for
that of foreign countries comes in with
greater than relative power to give con-
trolling quotations.
Gambling in grain exists wherever there
is a large delivery of it, but corners" have
had their day. The smallest producer OF
our Valley has access to the same sources
of information for guiding his judgment in
selling as are vouchsafed to the prairie
farmer who runs score of binders over his
ten thousand acres.
In speaking of foreign countries produ.
cling wheat exercising more than relative
strength in fixing prices for it, that state
ment of fact can be brought within small
er range of influence. The power by COM
binations of English capital in stimulating
production in India and elsewhere has viz
tually centred the commercial prerogative
at Liverpool and London. If asked how
can this be accomplished in view of the
trade intercourse of the world equalizing
prices, the answer is ready at hand. The
capital mentioned controls and makes the
land and labor of those countries beal
greater than natural burthens in the cost Of
production, the object being to break dowr
the American supply by low prices, and al
the same time secure good percentage up
on the capital which has been sent out tt
open up, by railroads, the remote sections
of the British dominion from the sea-shores
Good dividends and Gripping the American
supply in prices are the two prime objects
and both being accomplished in the partia
experiment of wheat-production in India
Hungary, Australia, and other countries
the supremacy over the United States
though the leading producer Of all, will be
come more fixed as the scheme grows tt
permanency and expands into every availa
Bile part of the continent.
Complaints of the oppression which the
capital invested in India, especially, causes
are unavailing, not only in the Asiatic de
tendency for the two and antagonistic re
lations it sustains to the agricultural inter
ests-pronloting them on one hand by in
creasing the production, and on the othe
by depriving labor Of its legitimate rewards
but the wheat-growers of England ant
Scotland have also denounced this mode O
proceeding which takes from the landed
interests at home much of the munRcenc'
they have hitherto enjoyed. Demand and
supply should be the controlling elements
in adjusting prices, but they are not wholly
SO, nor will it be otherwise until the lndis
investments can find something else tt
meet their grasping propensity for sub
stantial returns.
The situation of the United States as {
great surplus producer of bread supplies ii
at this time involved in perplexity. 1t il
frequently referred to, but as yet no en-
comprising thought attempting to solve it
has been given out, for the political econo
mists to turn over when forecasting the flu
ture Of the country.
In Augusta and the Valley counties W.
have been, and hope to continue, holding ;
pretty good hand in furnishing the grow
ing demand for hay. With that, as well al
everything else in which we are surplus
producers, along with the West, through
transportation rates take away the advan
tage of proximity to the markets, and tina
is the way we have to look at it. Specula
tions about the amount of hay which will b.
for export from the Western States are nu
merous. In Ohio, Indiana, Illinois, Wis
consin, Michigan, and Iowa the grass-crol
is said to be much short of earlier prom
Uses, and if SO, our surplus will receive
some benefit therefrom, especially in thu
further Southern trade, which is opening
to our advantage.