The morning call., 1891-08-17

On Saturday No shipping wheat sold at
81 60, and buyer season options touched
81 rs, but these prices are below the parity
Of Chicago, where December wheat sold on
Saturday at 81 10 per bushel, and reached
still higher figures after the close OF the
board. New York and Liverpool, as usual,
hesitated to follow, the price in the former
market being only fraction above the price
in Chicago, while the English quotations
showed little change from Friday. Thus
far the speculation appears TO be mainly
local, but as it is not the fruit of a corner it
is likely to spread if the news Of short crops
in Europe is confirmed.
The failure of the Russian rye crop is
such that it is unable to furnish its usual
supply TO Sweden and Norway. The ukase
forbidding exports of rye from Russia has
demoralized the grain markets of Central
Europe until wheat is now cheaper than
rye at Berlin and Vienna. The CONT
mental peasant who has been just able to
make both ends meet by feeding his family
on cheap rye will now have TO struggle with
the problem how to make them meet when
he has to feed them on deaTer bread. The
German and French newspapers congratu-
late themselves that they have the United
States supply to fall back upon, but the
price which American cereals command on
the Continent in consequence of the laws
passed in the interest Of landowners render
the outlook for the working class on tie
Continent this coming winter darker than
usual, and Governments will be LUCKY if
they eScaIe trouble. Most outbreaks spring
from dear bread
This country is doing its best to feed the
hungry. The receipts of wheat al the At
lantie seaboard are averaging million
bushels a day, and from this de of the
continent grain and flour are moving as fast
as tonnage can be secured at the extreme
rate Of 45 shillings a ton. Assuming that
our crop this year ranges between 475. 0O0, COO
and 5C0,00o,CC0 bushels, we shall have to
spare say the 250,O0O,OOO bushels which Eu-
rope ought to obtain from this country.
Steamships, railroads and diversified agri-
culture guarantee Christendom against re-
Dewal of the famines of the Iast. But IN
our day people have suffered from hunger
in Ireland, and within a couple OF decades
want of food has taken many lives in China,
India and other parts of Asia. There is no
likelihood of a repetition in our time in any
part Of Europe of the famineS which have
deropulated densely peopled Asiatic coun-
tries that are without means Of Transports
tion. But dear food is a hardship. 1t
means diminution in the size of the poor
mans loaf. There was no time in France
before the revolution when there was abSo-
lutely no food 10 be had; but there were
times when it was so dear that the poor
could not easily obtain ii, hence they were
cOnfrO nted with the alternative Of suffering
from hunger or bursting into revolt against
Government which had no power TO help
them. 1t was the short French crop of 1889
which precipitated the overthrow of the
monarchy, as it was the failure of the En-
glish crops III the early forties which revou-
tionized the fiscal policy of England. 1t is
now the crop failure caused by foundations
in China probably which underlies the up
rising against the missionaries.
a foreign writer observes that it shows
tbs proyerbial luck of Americans that they
should have bountiful crop just when it is
so much needed We ought certainly to be
thankful that cur haTyestS are better than
the baryestS abroad. 1t would have been a
serious thing if we, too, had had short
crop this year.