Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1892-01-12
PROSPERITY.
Lots OF II on Tap All Over the
United States.
The Supply Bids Fair to Last a
Long Time.

All Due to the Wonderful Abundance In
the Yield Of Crops, 1. tho Opinion or
Charles a. PiIisbury, the Miiiionaire
Miller Of Minncarolis-A Shortage Ia
All Countries but Ours.
New YORK. Jan. l2.-Charles A.
Pillsbury, of Minneapolis, the head Of
the Pillsbury-W Washburn Milling com
pany, purchased by British syndicate
about two years ago, has been in the
city for several days, and has spent
most of his time during business hours
at the Produce exchange.
There has never been so much money
in New York "a there is today" he said
to Times reporter. Money has not
been so easy for years or the indications
of prosperity for coming year SO fiat
tering as they are now. | have Just been
reading The Times financial article and
it is precisely the truth. Operations IN
stocks have been heavier for the past
week or two than they have been for
years, and the business at the exchange
is n good barometer. II is n pretty sure
indication of the general feeling IN the
business world.
realize what tho great wheat crop of the
country means, and they q not under
stand exactly what will be the effect (
the unprecedented yield, | have heard
complaints since have been here that
the business activity which was prediCt-
ed when the magnitude of the crop be-
came known has not come. Perhafs il
has not, but it is too early for 1t yet
New York viii get the benefit OF the
crop of 1891 in the year 1892,
Wheat went down n peg the other
day on the government report thnt
crop for this year would be 0lI.OHHItl
bushels, but | have adyiCes from %
authority which lead me to think that
Europe will want our surplus product
II our crop had not been unusually Arse
we could not meet the demand from I'd.
rope. Our crop last year was 100000
900 bushels greater than II has ever
been in single year, and IL IL o0.0ou,
600 bushels more than II was year
before last. Had il not been for this
shortage III Europe the great crop here
would have proved q calamity to the
farmers. Wheat would have been so
cheap that it would not have paid to
market il. France, according 10 the
best estimates, is short in her wh"pt
crop this year 100. 900, 900 bushels; l 81
sia is short 100. .O00. 600. including rSe
and oats BOO, 900, 900 bushels, and other
European countries are short 200,
000,00 bushels The surplus of
other countries has been sold aud
there is no supply to be Ind except
from the United States, ! have IL my
pocket letter from man in Russia
whose business makes il necessary for
him to keep informed ON the situation,
in which he says it is likely that Russia
will buy wheat in America before long,
even if buying has not already begun.
That is an unheard of thing. II is as
unusual az it would be for Minnesota or
the other wheat producing states 10 inn
port wheat from Russia for consumi-
ton.
Now IL requires considerable time 20
get any noticeable benefits from biz
crop. Money will be tighter at the start
than it would with short yield. hecag
80 much capital must be tied up IA
moving the crop. 1t is a gigantic tnl-
ness undertaking 10 handle 5Uo0a3.ND
bushels of wheat, and 1t ties up fort
une to do il.
The banks in Minneapolis, St. Paul
and Duluth had to gel together 3.HN.-
600 for this purpose alone. Ihis nat
urally causes a stringehcy until resn.. -
begin TO come in. But they are begin
ming to come now. Probably the farm
ers have parted with go per c'it.
of their crop In the three
states of North and South Dakota and
Minnesota there are $50.0O0O0O 10 he
brought in and distributed in payment
for the wheat, and that means grat
deal | know of whole counties whwe
the present crop will bring enough to
pay off all the mortgages on the farm.
This can not fail TO put that section Qf
the country in good condition.
New York, of course gets the l.le-
fit of the prosperity in any other "c'
ton of the country. Ii all pays tIlb-
nin