The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-09-03
NEW SERIES. VOL r NO r.
Europe Dependent Upon America

-~- NY A|ORCAOOIJ " pom America,
The disturbance of the financial cen
ters OF Europe by the pinch and threat
ehed suspension of the great banking
mouse OF Barring Bros, last fall, was pre-
vented from becoming disastrous panic
oy the United States But for the $7O,-
100000 OF gold furnished by this country.
England, France, Germany and Russia
would have been put to financial straits
that would have seriously affected every
monied institution and the diversified
business of every important line of en-
! terprise in those countries. 1t was
American securities, held in England and
Germany and France, that were availa-
| BILE for ready money, and the capital of
the United States was equal to the de-
mand upon it, in the grave emergencies
which confronted the financial sages of
Europe.
1t is now to the United States that
England, France and Germany must
look to supply the deficiency in their
crops and feed their millions Fortu-
nately, as with the gold, we have the
cereals to meet the demand, and as with
the gold, to meet it without disturbing
the even tenor of the way of this coun-
try, or interfering with our business in
terests. Referring to the food LIE cessi-
ties of Europe and our ability to meet
them, the New York Press of the 18th
says;
I'm all the United States there is prob
III I. Ef,I Il NIL
edge, experience and practical touch
with the grain and flour producing in>
dustry of this country to judge of the
prospects of our crops finding sale in
Europe than Senator William d. Wash
burn of M Minnesota, who is now in Paris,
after having made tour of Europe for
about two months. Senator Washburn
was the founder OF an Immense Touring
mill industry and he has had such rela-
lions with the grain growers of the
Northwest that he knows exactly the
situation in the grain growing regions of
this country, He has been Congressman,
Governor of his State, and is now Sena-
tor in which capacities he has been
obliged to study the supply and demand
for bread products the world over. He
has been studying the European sitna-
ton, and his opinion concerning it and
its probable effects on the United States
is invaluable
Senator Washburn declares that to all
appearances Europe will want every
grain OF the 200, 900 900 bushels of sur
plus wheat which he says will be raised
III the States this year. The crops of
wheat, rye and small grain in Russia he
pronounces a partial failure from persO-
nal observation. Russia. as heretofore,
not only fed herself from her crops of
grain, but has sent large quantities into
Germany and even into France. MIR.
Washburn concludes that the Russian
crop deficiency will create a large de-
mand for American cereals.
Referring to the Russian ukase pros
hibting the expectation OF rye, Mr..
Washburn says IL Was purely an act of
self preservation. and not a hostile move
ment toward Germany. 1t has caused
anxiety in Norway and Sweden, where
the people depend for their bread on rye
from Russia, and these countries, as we'll
as Germany, will be obliged, he declares,
to import wheat from the United States.
In Buda Pesth, the largest milling CEN
ter of Europe, Senator Washburn says
that the miliers estimated the crops of
that region at 80 per cent. less than last
year, in Germany % per cent, and in
other countries correspondingly. His
general conclusion Of the effect of the
European grain situation is summed up
in the remark that as the crops of the
United States were never so large as THIS
year, especially i'll wheat, he thinks we
can take care of the rest of the world,
and, as he adds, with much force, the
rest of the world must pay for it
The Judgment OF one so we'll equipped
as Senator Wash burn to form an accu>
rate opinion as to the crop situation at
home aud abroad is almost incontroyer-
tibIe and The Press takes it as the basis
for congratulating the country on the
Nh of, hn
that will follow ON the begin
ming of our shipments of grain to Eu-
rope. We have the key to the situation,
and only need to turn it to give the Uni
ted States an era of prosperity such as it
has not known in years