Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1891-08-11

crops being in excess of the demand,
and during the last three years this
same speculation has been carried on by
cheek. and did not result in disaster
only because there were resources to
draw upon.
This success for seven years has made
the spectators think that they have
discovered the philosophers stone and
that betting on low prices can always
be made to earn them money. There
is no doubt that they would ruin them
selves by persisting in that policy dur
inc the year, as the conditions are en-
tirely reversed, but if our crops rushes
into the market right after harvest
there is the danger that most OF it will
have beeu sacrificed before the specula-
ton on low prices is broken. 1t would
be. of course, an enormous loss to the
farming interest, if only the remnants
of the crop should bring the prices
which are due to every bushel OF it.
The way OF legislation is too slow to
ave this crop from being wasted at
ridiculously low prices, and it is not
likely that another such chance for the
farmer will present itself again in d life
time.
There is, however, another remedy,
simple. effective and entirely within
your control. The stocks OF wheat ana
-four are hardly large enough to supply
the wants of this country until the new
crop comes IN.
The temporary safety of the specula-
tor depends on an early crop and rush
into the markets.
IF for some reason, wet weather for
instance, the rush of new wheat should
not come as early as anticipated, the
market for this crop would start in with
double the prices which you have OBJ
tanned during the last few years.
Resolve for instance that in view OF
the condition of the worlds crops a
minimum price of Sl.35 for wheat in
New York is moderate and conserva-
tive, and that members of your organl-
cation pledge themselves not to marke
their wheat at lower prices unless they
are under contract, and that they will
use their best efforts with friends and
neighbors outside of the organization
also to act on your resolutions. Resolve
also that the state alliances form COM
mittee, which shall keep itself posted
about the state OF the worlds markets
and from time to time notify the tar
mers of changes taking place and advise
them upon the minimum Of prices that
thew may reasonably insist upon.
We will give you our reason for ar
irving at this figure. The prices OF
wheat are really to be measured by the
English market, for that country Is the
largest buyer, namely, to the extent. OF
I44, 1000, 600 yearly average The prices
for the last seven years. were entlreiy
abnormal. as 1884 created an unwldely
surplus which was kept up and IN
creased by several extra good crops.
This surplus being entirely used up, 1T
is perfectly natural that wheat should
return to the usual prices.
The average price OF wheat IN En-
gland during the twenty years proceed
ing was 81. 45 per bushel. Several years
it rose over 50 per bushel' In this year
of crop failure, far worse than any that
occurred during these twenty years, 1t
cannot be extravaganza to expect at least
the average price of that period A
price of 81. 30 at New York corresponds
with ST. 45 in England, as the expense OF
transferring bushel OF wheat to Liver
pool from New York is not more than
10 cents. New York, Baltimore, Bos-
ton and Philadelphia should have about
the same price. Chicago about III cents
lower. say about Sl.25. Minneapolis,
Duluth and ST. Louis about Sl.23. 10
ledo, Detroit and Cincinnati, sl.2S.
These prices would all be in proportion
to price of $l.45 in Liverpool.
To get at the corresponding value OF
bushel of wheat at your nearest rail-
road station, you deduct from the price
of wheat at the city to which your
wheat generally goes the cost OF trans
portation between your station and that