Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-09-30
WHEAT AND FLOUR
The French Government In the
Role of a SpeculatOr.
Options Have Been Secured on Amer
lean Breadstuffs.
How Twelve Per Cent. of Our
Surplus Was Captured.

Suspicion Was Not Excited at Home, Nor
Was Prices Advanced Here-The French
Made a smooth Deal and VIII Eat
White Bread, While Other European
Nations VIII BE Forced to Munich Corn
BreAd-Meats Also Included in the
Transaction.
New York, Sept. 30.-A project of
peculiar interest to the American
farmer and speculator In wheat has just
come to light.
II Is stated, on what seems to be ex-
cellent authority, and in q manner
that is plausible enough to be possible,
that the French authorities, realizing
the desperate straits Of Europe for
breadstuffs, and the chances that are ex-
cellent for general war of the heavily
armed nations, have been largely buy
ing options on American wheat.
Showed Far-sightednSsa
II is estimated that our surplus for
export will be between 1870, 100000 and
200, ,000, 900 bushels, and II is stated that
the French government has already the
option on 30, 900, 900 bushels which, in
their case does not mean betting on mar
gins, but the actnal securing of the
wheat itself
The situation is just this--the French
authorities, who are shrewd and far
sighted, see famine staring Europe in
the face, they know that wheat is bound
to go higher by at least twenty five cents
on bushel, and they buy 1t while there
is chance of getting 1t at reasonable
price. The Americans are getting the
small end of the deal, for though they
are selling at large profit, yet the cer-
tainty of bigger prices is assured.
And Meats, Too.
1t Is said that smoked and salted meats
are also included in the deal.
Leading European Purchasers.
The French, through one or two big
houses, have been quietly buying op-
tions on our wheat. So cleverly has the
scheme been worked that already they
have options on II per cent of the high
est estimate of our possible exports. II
was their intention to secure options on
10000 900 bushels of our wheat at
price of about 81 per bushsl, and they
have already gathered in enough to put
them in the lead of European pur-
chasers.
France has estimated that wheat will
be up to $1.25 as soon as pronounced
buying begins. and by taking options on
wheat at about dollar she feels that
she has saved one-fifth of the total cost
of the necessary breadstuffs. II was
cute game played by the French, and
most skillfully maneuvered. 1t would
be impossible for our government to
manipulate markets and secure food
products in the same manner.
Through the Army Department.
The French buying was through
means Of the army department, their
power being such that they can buy
grain the same as they can horses or
arms In the case of the purchase OF
the options on wheat very little cash
had to be expended. When the time
comes for the actual payment for the
wheat the French people will be only
too glad to ratify the governments
action, as they will get their supplies
cheaper than any other nation.
France had to have the grain, and did
not dare to take off her duties on cereals.
The rustics would not stand that while
the people of the cities wonld cried for
such move, The government, with
political patriotism, automatically,
throcgn lts agents, bought the American
wheat at fair price, stocked the coun-
try with food, and kept the farmers from
unnecessary distress.
The great factor in the possibilities of
famine as foreseen by the French was
the failure of the potato crop, which is
one-third smaller than the average. 1t
Is big item In the food of foreigners as
will be realized when it is known the
average crop of the Old World Ia 3,000,-
600, 900 bushels.
The United States has a potato yield
Of about 10000, 900 bushels, and needs
the greater part of 1t. The European
shortage Of one third is Of the utmost
importance in the calculations as to the
wherewithal of food for the year.
The lack must bo supplied by Ameri-
ican cereals. While France is eating
wheat bread, other nations will have TO
munich corn bread. In the event Of our
enormous crops failing to feed hungry
Europe, a general war will probably fol-
low. 1t will be the only way to silence
the murmurings and mutterings OF the
starving. France has supplied herself
with the rations. Such is the story told,
and il ia tale that Is plausible and Dos