The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-08-25
CRAUNCEY DEPEw ABROAD.
His Observations Concerning the Grain Crol
"A Huge Deficiency I'm Europe.

His Observations Concerning the Grain Crop
"A Huge Deficiency I'm Europe.
London Copyright Special TO New York Herald.
The bitter, black outlook In Europe, as
compared with the golden outlook in Amer
lea, was pictured by Mr.. Chauncey NJ. De-
pew. as l sat in the little parlor of Almonds
Hotel, in words to make Americans thank
full. We had been talking about the fail
ure of the European crops and the success
of the American crops. Mr.. Dspew's eyes
sparkled. This is the greatest opportunity
America has had for q decade TO get rich,"
he said. 1T is q s~tupendous year. Mr..
Vanderbilt and myself have just finished
our tour, which took us through France,
Roumania and Turkey.
Every where We heard the same story
short crops. Then zane the announcement
of the failure of the Russian rye crop. /
had an opportunity of meeting and talking
with the leading men of manv countries.
am satisfied there is o huge deficiency In
the European crops. 1t did not sadden me.
for i knew that this deficiency could be
higher thar they nave been paying.
'This journey was a remarkable contrast
to the one which Mr.. Vanderbilt and l took
before sailing from home. We travelled
nearly SIX thousand miles in America. see
ing with our own eyes. hearing with our
own ears, the proofs of IN abundant wheat
crop. My is that the corn crop
Is also large. The b Irvest has put ali ques-
tions of failure beyond discussion. 1t is the
best year for ten years. Ii this magnificent
abundance is not interfered with by local
spectators. locked up in corners America
will this year get back all the gold that has
come to Europe in consequence of the ex-
cess of ex sports. 1t will all go back to Amer
lea to pay for grain.
But it all depends on whether the specu-
lators let the crops alone. The last great
corner cost the United States $500. GOO, 900.
We can recover IL all if this years prosper
g., /, I mo IN hovaInn in o rrr 80
ural way. Let speculation stand back and
wealth will pour in upon US. The farmers
Will have plenty of money to Improve their
lands, build new barns and buy more sup
plies. This will give the manufacturers
more to do. and the wage-workors W ill share
the general plenty. Railroads will reap a
golden harvest, employing more men, and
side-tracks will be built, increasing the
will spread itself through the whole peo-
pie. Every man, woman and child in
America should be richer this year. but if
any corner is attempted this prosperity
will shrink up.
"W hen the great corner existed the last
time British capitalists were frightened.
The price of labor and the price of food go
hand in hand. The manufacturers said,
If we allow ourselves to Ie!lain In the
grasp of remorseless spectators, banded
against us. they may make us pay SO a
bushel for wheat, or even 3d. Up to that
time the deficiencies in British breadstuffs
were always supplied by America. In q
conservative country the general activities
90 on in the same channels unless a revOlu-
ton occurs. A revolution was brought
about 10y a conspiracy of the wheat specu-
latOrs.
England. alarmed, turned her eyes in
other directions. She found supplies in
the Russian wheat crops: stimulated Egypt
to bnild rail and cultivate breadstuffs;
helped India develop her grain fields, and
provided transportation-ln other words,
the wheat corners forced England to or
ganiZe competition, and raised up powerful
commercial adversar:es, Coming fresh
from the grain-ields of America. and hav-
ing surveyed Europe. | am certain nothing
can prevent America rolling in wealth this
year bnt another attempt to corner the
market.
The American people nave q magnificent
prospect, but il wouldn't nave happened if
a Democrat had been at the head of the
government. | am a believer in a special
Providence. and feel that Providence. hav-
ing witnessed the effect of the last Demo-
cratic administration. sent q good crop in
that the blessings of q Republican admin.
istratiOn might be continued"
ID u you read the declaration of Mr..
Lidderdale, the governor of the Bank of
England. tn the effect that credit in Eng
land was lower than before, but there was
no danger of any financial crashf' / asked
Il did," said Mr.. Depew. land l regard
1t as the most important statement made
anywhere in the world this year. Since
my return TO London / nave verified every
word spoken by Mr.. Lidderdale and can
add my assurance to his that not an i'm
portsnt failure Is In sight"