, 1891-09-15
FACTS WORTH MONEY
Another Batch of Advice to
the American Farmer.
Wheat Will Reach $1.50 and
Possibly 81.
The European Shortage the
Basis of This Claim.

ST.. PAUL, Sept. l4.-"Facts Worth
Money is the heading of a new circular
in relation to the wheat question nov
being sent out by the State, the alliance
organ in this city. 1t urges the farmers
to hold back their wheat as better prices
await them in the next few weeks. The
assertion is made hat wheat will he 81. so
soon and possibly 80. A review of the
European shortage is being made the
basis of this claim. George NJ. Miller.
editor of the State, in speaking of this
new address to the farmers, says: I'VE
still believe that a large mount of grain
will be held back; that the rush is prac-
tically over. Our advices from thousands
of correspondents are to this effect. These
early sales were by those distressed for
money and those not connected with the
alliance" The circular says the farmer
needs honest advisers; he has now too
many of the other kind. 1t sharply raps
the elevator men and millers, grain deal
ers and spectators and those newspaper
men who GO to them for their information
about the condition of the market aud lay
it as valuable truth before the public"
Two months g all these advisers pre-
dicted low prices on account OF the enor-
nous crops in the United States and ad-
vised the farmers to sell as o as they
had a chance. They admit now, says the
circular, when the question has been thor.
oughly ventilated, that an immense short
age 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. The press. for
instance, is overlooking with articles con-
graduating the farmers OF the immense
crop. These articles are suspicious, for,
says the circular. we hope that lew news
paper men are so ignorant that they do
not know that a large crop is of itself no
ground for congratulation. 1t is the farm
value Of the crop, and this does not de-
pend on Its size.
The newspapers now. it says, enlighten
the farmers that Europe will need all
they have raised, and more, but that
they cannot buy "at exorbitant rates. Z"
The circular states that the figures of the
Vienna congress show that Europe has
raised 25S, 600, 900 bushels Of wheat and
AGO, DOC, 900 bushels of rye less than last
year. Last year it consumed all its own
wheat and so, ZOO, 900 of reserves; IOO,-
900, 900 bushels from America, all that
other countries could supply and all its
rice crop. This year it will have from
America 900. 900. goo bushels, if the ex-
treme figure on our crop is taken.
1t will have an aggregate shortage of
74S. 900, 900 bushels In its own crop and
so, 900, 900 bushels less to be drawn from
reserve. In short, it will have 900, 000,-
600 bushels from America to make up a
total deficiency of 798. DOC, 900 bushels,
and nn,,ot onpua1uapfIu cot ETQ nnn nTn
bushels less grain. 1t being admitted,
says the circular, that the shortage in
European crops is by far the worst ever
known in history. it would be natural for
Europeans to expect high prices. The
soycalled advisors" of the American
farmer tell him that 81 Der bushel in
Chicago is about the highest the
Europeans will stand, and that they would
rather eat other things than paw more
for wheat. The circular says this
assertion is ridiculous. The average
price for wheat, it says, for the last thirty
two years in England, on a gold basis,
was 81. 81 per bushel, which corresponds
with 81. 81 in Chicago. During the eight
highest years of that period tho average
was $l.77a, equal to 81. 574 in Chicago.
During lS67-6S the average was 81. 90
and prices went AS high as 81 81, equal to
more than 81 in Chicago. These high
prices did not, SO far as the recollection of
the writer goes, change the diet of Euro
peans to any great extent.
The shortage in Europe being four
times as large as the American surplus,
says the circular, 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. The talk that dollar
wheat in Chicago is high under the pres
ent circumstances is. it says. absolutely
ridiculous. OF course il the farmers
should insist on offering more wheat than
there is money to buy. they could keep
prices down a little, but the warning
came in good season to spring wheat
farmers and they will hold back better
than the spectators expected. There
never was any good reason for having the
wheat price so low as it is today. Those
who are forced BY absolute necessity to
sell or who are too idiotic to understand
the situation, arc not so numerous that
their actions can keep down the price any
length of time, and as soon as the fools
are out of the market the intelligent
farmers will get prices adequate to cir
oumsfancea