Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-15
FARMERS, HOLD YOUR WHEAT.
The st. Paul Alliance Editor Issues a Sec
ond Circular Containing This Advice,
Backing 1t Up With Figures to Prove
That Wheat VIII Surely Rise,

That Wheat VIII Surely Rise.
ST. PAUL. Sept. A-George NJ. Miller, editor
of The State. the Alliance newspaper organ
in the Northwest, from whose office the now
famous wheat circular, advising farmers to
hold back their grain for an advance in
prices, was issued, has issued second circu-
lar following up the suggestions of the first,
with figures and arguments in support of the
proposition that wheat is about to advance
to 81 so or 81, and farmers should profit bv it..
One million copies of this circular are being
mailed, beside the regular number of copies
of The State in which the circular Is re-
printed.
The circular opens with the statement that
tie farmers will be saved millions of dollars
II the advice given in the document is fol-
lowed The circular saye: "The farmer needs
honest advisers who understand the situa-
tion, because he has too many of the other
kind just now, and IL is high time that lie
learned to discriminate among counselors.
There are in the first line the elevator men
and the mfllers, the grain dealers, specula-
tors and large commission firms and those
newspaper men who 20 to them for informa-
tion about the conditions of the market.
Two months ago all of these advisors pre-
dfcted low prices on account of enormous
crops in the United States, and advised the
farmers to sell as soon as they had a chance.
The Shortage Cannot Be Supplied.
"They, of course, admit now, when the
question has been thoroughly ventilated,
that an immense shortage exists in Europe,
which no surplus OF our country can offset;
but still they try to tempt the farmers into
sacrificing their crops by different tricks. A
large crop of itself is no ground
for congratulation to the farmer.
10 A6A A.
which does not depend on its size as the
official figures will prove. Therefore, look
with suspicion on the newspaper articles
congratulating about immense crops.
"The shortage in Europe can now be
figured with accuracy. About q week ago
congress OF grain dealers met at Vienna and
computed figures about the crops in Europe.
These figures are the highest which well-in-
figures of tffN Vienna congress show that
Europe raises 25S, COO 900 bushels of wheat
and 400 C00,0C0 bushels of rye. Last year it
consumed all of its own wheat crop and ct
least 100000 of reserve, 100, 900 900 bushels
imported from America, all that other coun-
tries supplied and oil it's rye CROP
'This year 1t will have from America l20,-
600, 600 bushels more than last, if we take the
extreme figures which any reputable author
lty has made for our really splendid crop.
1t will have, as usual, what other countries
supply, which is very Insignificant, but it
will have 4S, ,000, 900 bushels of its own crop
and so, 600 to be drawn from reserves.
The Figures Summed Up.
'1n short, it will have 12O 100000 bushels
extra from America to make up deficiency
of 79S. 600 900 bushels, and must consequently
eat 67s 600, ,OGO bushels less grain. Rye being
dearer in Europe than wheat, the latter be-
comes substitute and is equally affected by
the deficiency in the rye or wheat supply.
"When it is entirely certain that Eu-
ropeanS will have to ecOnOmiZe in bread to
the extent of SIS, 100000 bushels, and when
the situation Is aggravated by the partial
failure of the potato crop it is to be consid-
cred what prices they would pay for Ameri-
can wheat.
"The above named advisers of the Ameri-
can farmer tell him that q price of 81 a
bnshel in Chicago Is about the highest Eu-
ropeanS will stand, and that they would
rather eat other things than pay more for
wheat. Let US see how true that is: They
can surely not substitute meat for bread, be-
cause at the highest price Of wheat ever
known bread still remains the cheapest
food. When driven to extremes they could
substitute corn, barley or oats, and they will
have to do so anyhow without question, for
of wheat and rye there is not enough on this
the deficiency; but when it becomes neces-
sary to draw upon these products to fill the
shortage they will also rise to heretofore un-
known prices. 1t being admitted that the
n European crops is far the worst
ever known in history, 1t would be only nat
ural for Europeans to expect high wheat
prices.
The Foreign Prices of Wheat.
"The average price of wheat in the last 80
years in England, on gold basis. was 81 Al a
bushel, which now corresponds with a price
of 81 81 in Chicago. During the eight high
est years of that period, namely 1s61-67-6s-
7l-7273-74 and 1877, the average price was
81 774-equal to 81 57s1 in Chicago. During
1867 and 1863 the average price was 81 95 and
prices went as high as 81 2l per bushel, equal
to more than 50 in Chicago
Though well posted about European af-
fairs, we do not recollect that these high
prices of wheat changed the diet of
to any great extent, and the ex-
orbitant prices at which Europe, as the
farmers advisers say, will refuse to take our
wheat must, therefore, be somewhere be-
yond past experience.
''The shortage in Europe being four times
as large as the American surplus, there is no
doubt that the price OF wheat will.reach the
highest figure ever known before this year
is up, and will exceed it by far before the
new crops come in. European countries
which lend us thousands of millions of dol
lars are notgoing to subsist on boiled hay
and root diet.
"Speculators having made reckless con-
tracts with Europeans, succeeded IN draw
ing out Of the farmer enough winter wheat
to fill their engagements so far by offering
for cash wheat about as much as they
promised to sell for in December
Farmers Will Hold Their Wheat.
at is talked all over America and Europe
that wheat from Minnesota and the Dakotas
will flow into the market at O rate which
will be limited only by the capacity of rail-
roads for carrying 1t. 1t is said that wheat
will come so fast that there will not be
money enough to buy it or elevator capacity
TO store it. OF course IL the farmer should
insist on offering more wheat than there is
money to buy it with, he could keep prices
down little, even il his grain were actually
for Spectators, there is little prospect that
this tremendous rush into the market will
take place.
"The warning came in good season to the
spring wheat farmers, so that they have had
time to discuss the question, and they will
hold back much better than the spectators
We are perfectly assured of this
who are forced by absolute necessity to sell,
Dr. who are too imbecile to understand the
,itua ton, are not so numerous that their ac-
lions can keep down prices any length of
time, and as soon as the fools are out of the
market intelligent farmers will get prices
adequate to the circumstances.
'Never was there any good reason for
having wheat prices as low as they are even
,o-daY, for wheat crops have never been so
ar in excess of the demand that extremely
ow prices werc justified, nor was it entirely
lue to the action OF speculators that prices
became unremunerative. 1t was the ldiotic
way of Western farmers selling their wheat
'uined Eastern farmers, reduced English
arm property to half value and compelled
germany and France to protect their in
lustries by high import duties"
THE JUNIOR ORDER OF THE STATE