Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-09-15
The Wheat Crop-Additional Report.

AUGUSTA COUNTY.
The Wheat Crop-Additional Report.
In the three last issues of the SPECTATOR
there were views expressed and conclusions
reached relative to the continued cultivation
of wheat, and speculation as to the future
prices for the present crop. Apart from
general view of this interest, the object has
been to present to our producers facts bear
ing upon it under the light of further de-
velopments as they shall come upon the
surface. An abundant wheat-crop ditfuses
more blessings than any other single pro
duct of the soil, and well-filled gamers OF
this, the choicest of all cereals, produce
degree of pleasure as great on one hand, as
their emptiness, because of failing harvests,
would produce distress on the other. 1t is
so in our land, and an equal interest at
taches to it throughout the enlightened
world
The reports of the years crops are now
coming in from all countries that produce
wheat This information concerns every
man who has any to sell, and is eagerly
sought for by all who move it through the
channels of commerce. Continuing to ap
ply the additional information as it bears
upon the part the surplus of the United
States is to maintain in the foreign demand,
the already conceded advance in prices be-
comes still better established fact. AS the
investigation progresses, the revelations
should be sufficient to warrant our farmers
in holding on and coming in with the final
contingent in the foreign demand, rather
than to enter the market under the influ-
ences which prevail at the first rush of ex-
ports.
The New York Bankers Magazine for
September, in its Financial and Commercial
review, says, ''The harvest of Europe is not
only the worst in five years, but it is of poor
quality, requiring an unusual amount OF
in order to make merchantable .fours."
1t is estimated that England will require
$50 million bushels, and France 70 millions
this year. The product of France and the
United Kingdom will fall short of their
usual yields. After allowing for all other
European supplies, including Russia, the
import-wants will be 100 million bushels in
Europe. Other than the United States the
sources of supply are as follows: India. 40
millions; Chill, millions; the Argentine
States, 2 millions; Canada, 10 millions; 9th
er countries, 4 millions more; leaving to
the United States the opportunity of sup
plying about 40 million bushels. Austria
liza is not in the estimate, but the surplus
there cannot do much more than supply de-
ficiencies, for that country is now buying
flour in California.
Before coming to the consideration of the
part our own country is to have in supply
ing this large foreign deficiency, perhaps
the interested reader may want more light
on the state Of the foreign harvests than
the extract above throws on them. The
London Miller, a leading trade journal,
which certainly would have no interest in
representing them worse than they are,
draws a gloomy picture for the wheat
growers of the United Kingdom. 1t says:
"WritiDg a report on the harvest Of 1886
is a work that any one would prefer to leave
undone, so disastrous do the returns from
over the large area of the United Kingdom
prove to be. After winter of protracted
cold, and with spring also cold and with
a small rainfall, followed by a June of
scorching heat and great dryness-it was
not to be expected that the harvest woulo
be good one. But even the most ingrained
pessimist might be pardoned for hoping
that the year would have some redeeming
qualities, and that if wheat did not prove
to be all that could be desired, we should at
least have some good crops to gladden. our
hearts and make our harvest thanksgiving
something more than empty mockery."
And, further on, this journal continues
"The result is more disheartening than any
of twelve years past. There is not single
crop for the entire country that shows an
average yield" The additional discourag-
ing fact is also stated that the area in wheat
was less than usual. The foreign defcien-
cy is largely in excess of any during several
years past. Under gradual decline in our
exports, we only sent out of the country
last year about so million bushels. 1t is
very clear that we will have the opportuni
ty of furnishing over 1870 millions from this
years crop.
1t has been considered that an export Of
100 million bushels would place the quota
tions of wheat much higher than they are
now, and if the opportunity offers to draw
more largely on our supplies to satisfy a
foreign demand, it is evident we should be
somewhat empty handed before the harvests
of 1887 came to our relief
Gambling in wheat is still the custom in
some of the large commercial centres, but
the day for making corners is past. A sud
den transition need not be expected in the
ascending scale of quotations. The Bank
er's Magazine looks for the change later on,
and after the movement of Spring wheat
Our wheat may well be classed the ma
tional crop, because of it's relation to the
commerce of the world; but for several
years past, it has been very feeble in estab-
fishing its true value. Spectators and
gamblers in our own large centres of trade,
by their unwarranted proceedings, turned
away from the American source of supply
the political economists of Great Britain
when estimating the future needs of the
millions of consumers, who had hitherto
looked to us for bread. Events are now
occurring in connection with the failure Of
the new fields to produce good wheat, as
well as other causes, which may soon re.
store to our country its proper influence in
regulating this great interest by the true
standards Of commercial intercourse. We
hope for the benefit of the producing inter.
ests of the country, and especially for our
own section, the results may turn cut as
they should, for then, as community, we
will eniOy new Measures and larpe nroftc