Southern standard. (McMinnville, Tenn.) 1879-current, 1890-06-21

would give place to imports of wheat,
Canadian net exports sometimes
reach and exceed 100000 bushels,
but last years crop was one of a sue
cession of short ones, and Canadian
grain merchants now declare that
they require 100000 bushels of our
wheat to carry them to the next har-
vest.
South Africa-Cape Colony, etc.
always import wheat, and probably
always will, but a deficient harvest,
just at this junctlre, is largely in,
creasing their drafts upon the small
exportable surplus of Australia.
Unless the Dakotan and Minnesota
yields are abnormally large, we can
not from the crop of 1890 export to
exceed 100000 bushels. Half this
quantity is yearly taken from us by
countries outside of Europe, and in
view of the short crop throughout the
southern hemisphere we may expect
the demand from such countries to
increase in such a manner as to rem
der it Improbable for us to spare
Europe even 2Q,OOO,OOO bushels from
the coming harvest; hence the only
manner in which the European de-
felt can be reduced below 10000, 900
bushels is by a possible European
harvest above the average in yield,
while on the other hand deficient
yield would cause the shortage to as
sumo alarming proportions.
PROSPECTS OF THE NEAR FUTURE,
In the 1891 crep-year, with a popu,
lation of 354, 100000 Europe will re-
quire 1,413,OOO,OOO bushels, and aOtl
JM crops throughout the ac0rLd anC
estimating the yearly increase in
production at 100000 bushels
which is more than the experience o
the immediate past five years. war
rants-the product will be 10000, 0OO
bushels less than the worlds require
ments, with surplus (reserves) here
tofore accumulated entirely disposed
of. The consuming element of Eu
rope and North America increasing
19,500,000 bushels yearly with III
available supplies Increasing less thai
100000 bushels annually, this de
felt must constantly augment, as W,
shall see, eUe,e should ace continue /
credit all countries aOith full crops G,c
an increasing out-tiun greater than h
past warrants.
For instance, the European pro
duct has during the past Is years in
creased but 8, 25O,0O0 bushels per an
mum, while in these estimates sucl
annual increase is put at 100000
bushels, and we must remember tina
even in Eastern Europe, where neal
ly all the increase is had, that tn
amount of available new land is, a
in this country, rapidly decreasing
Estimating on this liberal basis 70
production the European require
ments for the 1892 crop year will b
lao, 100000 bushels and the availa
BILE supplies 100000 bushels, show
ing a deficit Of 100000 bushels
and here we see, after estimating flu
crops everywhere, and without lay
ing by any reserve for a state of wa
or crop disaster, the deficit continue
to grow, as will be the case in tn
1893 crop-year, when European r,
quirements will have increased
1,431 100000 and the available SUI
plies to 1916, 900, 900, leaving a shor
age Of S5,0OO,00O bushels. Projectin
our vision forward to the 1894 crol
year we find the requirements 2,44O
100000 bushels and supplies bl
1,343,OOO,OOO bushels, this years d
felt swelling to 100000 bushels.
We might go on indefinitely an
should find the deficit increasir
with the passage of each year, Il
only difference being that in years
short crops it would be greatly in G.
cess Of anything shown above, as I
allowance whatever has been mac
: for deficient yield in any part of Il
world.
Assuming that the reserves exis
ing at harvest time were sufficient
} offset the shortage in the Europes
crop of 1889, the aggregate defC
; from the coming four harvests
found to be not less than 3l4,0OO,0
bushels. Will some one of the b
levers in a continuance Of low pric
for bread-stuffs tell us whence wi
come the cheap wheat?
WHEAT PRICES SHOULD ADyANC
An examination into the sources
supply will enable us to see what Il