Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1888-09-27
UNPRECEDENTED SHORTAGE

D.. 8 u z
UNPRECEDENTED SHORTAGE
An English Authority Enters Into .
Consideration of the Worlds Har-
vest and the influence of the Short
age on Prices.
i The Manchester, (Englan0 Guardian,
a recognized authority on agricultural
matters, devotes nearly two columns,
editorially, to consideration of the crop
condition in England and elsewhere. In
regard to England: The wheat yield
there is declared to be the worst since
1879. The period of qualification was
cold and wet and not only is the yield
small but the quality is poor and the
weight light. Her estimated shortage is
placed at 20 per cent. The following
general outline of the situation will be
found interesting and comprehensive:
During the twelve months begun on
the first day of the present month (Sep-
tember) we in England shall require for
consumption about 26,OOO,ON quarters,
SO that If we are not to draw upon our
rather small reserve stocks, we shall need
to import 1917 million quarters. That
we shall get all the wheat We need is
certain, but it is not at all likely that we
shall attract it without further advance
in prices. The wheat harvests of the old
and new worlds are deficient. Russia is
the only European country which has a
considerable surplus, while in France.
Italy, Spain, Switzerland and Germany
there are deficiencies of more or less im-
portance and Austria Hungary has crop
much smaller than that of last year.
Unquestionably Europe will have to look
to the United States and India for large
supplies. The Australian surplus was
larger than usual but we have already
received a good deal of that and
the exports OF South America are
correspondingly small this year and
Canada has no surplus worth mentioning.
To return them to the two principal
sources Of supply, it is clear then that
Europe will need all that the United
States and India can spare. But tn 9
crop in the United States is believed to
be only equal to 100000 bushels Of
wheat at the OuCside and the home con-
sumption will be over 100000, 900 bushels.
The surplus, then, will be a small one
unless prices are sufficient to reduce re-
serve stocks.
The home market tendencies are thus
commented upon:
The price of wheat is rising week after
week and the markets are ruled by the
weather. After being low down in the
.'thirties" for three years the price of
wheat is now close to forty shillings a
quarter $3.50 for 500 pounds) and a d.
cent sample Of new wheat is worth two
guineas while good lot of old wheat will
bring three or four shillings quarter
mor. Whether the change in the weather
that set in Friday will check the advance
Of prices remains to be seen; but no one
expects to see return to the low prices
Of last year because If all the outstand-
ing wheat in the world be gathered in the
best possible condition the total quantity
will not be equal to q years consumption
and the consequent necessity of Drawing
upon reserve stocks must send prices up
for time.
There is pointer for Dakota farmers
IN the above statements. There is q
shortage in the worlds wheat yield and
the surplus Of this and other export
countries will be in demand in the i'm
port countries Of Europe. For nearly
ten years the demand has been unequal
TO the bountiful supply. This year the
conditions have changed and regulated
by those inevitable laws that make cheap
ness the standard in the midst of plenty
and dearness the rule in time of scarcity,
the prices Of wheat have rapidly risen
to point not touched for nearly five
year. II the Dakota farmer wants dol
lar bushel for his wheat, let him hold it.
The laws OF supply and demand, more
sure than the European war which has
been yearly looked forward to to bring
about that result, will send quotations
to that point before the season of another
seed time rolls around.