Smyrna times., 1886-06-16
The Wheat Product of the
World,

The recent report of the Apricul.
tural Department, giving the total pro
duct OF wheat raised throughout the
world in 1885, and the estimated con
sumption during that year. is at once
interesting and suggestive. The de-
partment puts the total product OF
wheat last year at 2,11O,OO0, 600 bushels
ana the total consumption of >, ,165. .OOO-
uu0 bushels. This would represent a
deficiency of 55,00O,OOO bushels. The
effect of this deficiency would have
been to steady the price of wheat but
IOr the fact that there was a surDlus
carried over from the previous wear of
l20,OOO,OO0 bushels, so that. after the
deficiency in 1855 was met out of the
surplus of 1884, there still remained 20.
OOO,UOO bushels in excess of anv de-
mand. But the most serious fact for
Che United States to consider is. that
whereas our o. ,reat competitor for
many years in the wheat market of
europe was Russia, we are now con-
IrOnted with competition from India
and Australia. Both these are British
dependencies, and although the extra
cost OF transportation from India is
greater, 1t is much more than made up
Oy the cheapness of labor, while the
necessity of getting return freiebts
from Australia has kept down there to
very low figures the rates of transnOr-
'aIloh TO European ports, and conse.
quently the price of wheat when land
ed at those ports. The European
wheat harvests have also been better
Tor the past two years, and if it had
not happened that our own wheat sun
ply last year was considerably below
the average, we should have been bur-
Gehed with surplus that would have
dragged prices down considerably
lower than they are even now. II must
not be forgotten also that the consumn-
ton Of wheat, as manufactured into
nour, IS dependent upon the existing
state OF trade. When that shows a
marked and persistent depression-and
TINS has been obvious abroad for the
past two years--the cOnsumption de-
cllnes IN proportion to the intensity of
Che depression, rising again as business
activity IS resumed. Under the COM
petition of these several grain-growino
countries, each eager to find a foreign
market for their surplus wheat at a ne
rod when depression in trade has les
sened consumption, it is not SURPRISING
That the price of wheat has ruled low
and that we are forced to sell our sur-
plus abroad at rates that afford the
grower but small margin of profit.
With our large home consumption il
might be supposed that we would he |
able to control the local price of our
great agricultural staple, and if we
were importers instead of exporters of I
u a section of the tariff would soon |
settle that point by making our people
pay for the homegrown wheat more
han 1t would fetch abroad, lust as
hey pay from twenty to fifty per cent.
more for our manufactured goods than
1 they were free to buy in the mar
Iets OF the world. Our Western far
ners not only get no protection from
ne tariff, but are handicapped bv il
or the cost of much that thev buv
.lther IN the shape of household goods
n farm implements, is increased bv the
ustoms duties imposed for the benefit
j Eastern manufacturers, but to the
injury. He cannot, there
ore, grow his wheat as cheaplv as he
llght, or bring down the rates of
transportation as. low as they could
therwise be, and, consequently. in
ompetltion with Indian, Australian
nd even Russian wheat, is placed at n
lsadvantage. 1t is to be feared. more
yer, that this competition will increase .
ather than decline, for there are vast
reas in India adapted to the growth of ,
heat into which railroads are now be- I
lg actively pushed, and these rail
Dads are either entirely owned bv the !
oVernment or it guarantees a special l
nnual interest on their. cost.-BaIti- {
ore Sun. !