New-York tribune., 1891-10-17
THE YFAR'S CROP.
HItEIs Il
Goliaths.

On Saturday evening" after the markets OF
that day had closed, the Government report OF
the condition Of crops was made public, lndl-
eating a larger yield Of the principal crops than
preyious adyices had led the commercial world
TO expect. 1t is somewhat curious that on Mon
day, following this most encouraging nforma-
tion. the market for securities was successfully
assailed and manifested much weakness. AT
the same time there appeared no considerable
change in the market for grain or cotton.
The official report is interpreted at Chicago
as indicating that the yield of wheat this year
has been about 595, 900, 900 bushels, and other
authorities estimate from the same report that
the Weld has been about 5SS, 900, 600 bushels
The difference is not important, and in either
case the supply Of wheat is likely to be ample
for all the needs of the country. 1t will be
remembered that the quantity required for do
mestic consumption as food and in the arts IS
only about 800, 100000 bushels, and that the
quantity officially allowed for use as seed is less
than 6O,OOO,OOO bushels. If the official re-
turns are approximately correct, the country has
available for export during the present crop year
a greater quantity OF wheat than has ever yet
been shipped in any twelvemOnth to foreign
countries. and while there is good reason to
expect greater foreign demand than usual this
wear it is not by any means clear as yet that the
mantity thus required will exceed 200, 600, 600
bushels. Some hesitation in the market may
have been caused by the previous reports of in
iurv 10 wheat in stacks in the far Northwest
especially in North Dakota, on account of long
continued rains. But dispatches were also pub
ished on Monday showing that the rains had
ceased, and clear dry weather had insured the
safety of a large quantity of wheat previously
reported in danger
Respecting the corn crop also, the official re-
port gives encouraging information. From
previous accounts it had been estimated that the
Weld would exceed 1900 900, 900 bushels, and
the official return as TO condition October 1 is
interpreted as indicating yield of 1850, ,000,-
600 bushels or more. 1t is obviously more
difficult for the Department to determine with
even approximate accuracy the quantity of corn
produced in any year, and the enormous receipts
not long ago, when the price was sharply ad-
vanced in speculation, were generally inter-
preted as evidence that the official returns for
previous years had been at least not excessive.
But in any case the yield of 1891 seems likely
TO be quite large enough for all requirements
unless foreign countries SnOulu DC lHuuCeu 10
take much larger quantity of corn from the
United States than they have ever purchased
in any year. The consumption in this country
for all purposes has averaged less than 1,sOO,-
600, 900 bushels for years past and in no single
year has the quantity exported to foreign coun-
tries exceeded abouF1O 90, OOO, 900 bushels. Al
lowing for considerable increase in consump-
ton, through increase in the number of animals
to be fed, there would yet remain an ample
supply for the coming year and for all possible
foreign demands. The official return also in
dcates that the yield of oats has exceeded
75S, ,O0O, 900 bushels, which is far in excess of
the quantity hitherto required in any year.
While the official report showed decrease of
several points in the condition of cotton during
the month of September, this was much less
than previous unofficial accounts had led the
public to expect Indeed, there had been many
statements of injury to cotton which represented
that more than a fifth, and in some cases as
much as a third, OF the entire crop had been
lost. While it was with reason believed that
such accounts were liable to be exaggerated, and