St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-13
MEMS HIGH GRADE
oVERCo A IT'S,
$3.50,
Worth $500, $500 and SIS.

Sf.95, and prices went as high rs 1921 per
bushel equal to more than s. in Chicago.
Though well posted about European af-
fairs. we do not recollect that these high
prices of wheat changed the diet of Euro
peans to any great extent. and the exorbitant
prices at which Europe, as the farmers adj
vlsers say, will refuse to take our wheat,
must, therefore, be somewhere beyond 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 thou
sands of millions OF dollars are not going
very easily OH boiled hay and root diet.
The talk that 81 wheat IN Chicago is a high
price under present circumstances is abso-
lutely idiotic, for an average price in Eng
land being 81 H. no one in Europe dares ex
pect to eat wheat u cents below an average
price this year.
Spectators having made reckless contracts
with Europeans succeeded in drawing 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
Holding up the Chicago quotations, and
proving that the prices for cash wheat were
equal TO December futures, the agents who
overrun the county said to the farmers:
Why should you hold your wheat and incur
all expenses and risk if you Can buy for de-
livery in December the same article for the
price at which you sell now:'' This argu-
ment
Succeeded So Well
that spectators grow holder, and even re-
duced the prices a little i'll hopes of getting
the spring wheat Drop still cheaper
1t is talked all over America and Europe
that wheat from Minnesota ana the Dakotas
will flow into the market at a rate which will
be limited only by the capacity of railroads
for carrying il.
1t is said that wheat will come SO fast that
there will not be money enough TO buy it
and elevator capacity 10 store.
OF course, if the farmer should insist on
offering more wheat than there is money to
buy 1t with he could keep prices down lit
tie, even II his grain were actually worth its
weight in silver; but unfortunately for spec
ulators, there is little prospect that this ire
mendous rush into the market will take
place.
The warning came in good season to the
spring wheat farmers, so that they have had
time 10 discuss the question, and thew will
hold back much better than the spectators
expected.
We are perfectly assured of this by our i'm
mense correspondence.
Those who are forced by absolute necessity
to sell, or who are too imbecile to understand
the situation, are not so numerous that their
actions 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.
Inc above mentioned class of advisers
want to make farmers believe that they must
come in before navigation closes, while as
fact during the last five years. without ex-
cept'on wheat has brought more money in
December than September.
The same men talk necessarily about our
tremendous surplus, though they know that
it is only one-fourth of the European short
age, while in other years ii was equal to it.
Never was there any good reason for hay
ing wheat prices as low as they are even to-
wheat or
in excess of the demand that extremely low
prices were justified, nor was it entirely due
to the action OF spectators that prices be-
came unremuneratiYe.
1t was the idiotic way of Western farmers
selling their wheat which broke prices, kept
them poor, nearly ruined Eastern farmers,
reduced English farm property to half value,
and compelled Germany and France to pro-
tect their farming industries by high imp ort
duties. .Hf
By selling a years supply during few
months, prices naturally -
Start in Very Low, o
and generally stay there: ,N
not make much difference how low prices
start in, for wheat will soon be over ST so, no
matter how much farmers and specu-
lators WORK together to keep prices
down: and we would advise those who can
comprehend the situation 10 hold their wheat
for S1.50, and add for every month they keep
1t, say five cents to the price.
Ihere is no doubt they will get that price
and probably more, and they will get it in the
near future.
We have consulted with many prominent
farmers, and the executive officers of the
grain growers associations. their unanimous
opinion is that farmers should provide
themselves with granaries
We give working drawings for very sub
stantial granary, which holds 1,50O bushels
an costs little over four cents per bushel.
S UGH granary can be insured at low rates.
q for Loo,
elevator receipts.
1t can be put up in a couple OF days and
will pay ten times the cost this season.
We summarize the above as follows: