The morning call., 1892-01-30
WHEAT, now AND HEREAFTER.

Tie collapse in fTeights, which was pre-
ciptated by the failure of IOwenthal, Liv-
iug,to1 * Co., has led, as it was clear that
1t must to a decline ID wheat. Dealers are
unwilling TO accept the decline as likely to
he permanent; but while the first effect Of
q shI.uEage In fTeghts IS 70 stifen the
price Of produce, such a collapse as we
have lately witnessed-from 30 to % shil-
llag5-cCuld not but he contagious, and
persons Of judgment foresaw a drop many
DAYS ago. II the market exhibits no further
weakness no great harm WIZ be done. At
r. 81 90 OF 81 70 wheat VIII yield fair return
TO the grower.
Il is an axiom that merchant who cor
ducts his business in obedience to the teach
ibgs Of statistics is sure 70 break, hs .s
always ahead 81 events But j. IL sell ~
dealers in wheat should bear m.1d t.zt
all the signs Of tie times point r. Z .sa.. =
range Of higher prices for wheat 10 t.s
coming years Nj Mathew Marshal. .-s
economist Of the New YORK -,a, sLc s1s r.
the clsarest-hcaded writers ~ tls d. F..
demons trating in a series Of f1re.1.s articles
that the production Of food is increasing f4r
more slowly than The consumption. tlat at
a period not very distant the United States
will have DO surplus Of wheat for export
and that as people must have food the pro-
ductou Of wheat viii have 10 be swelled by
such artificial aids as irrigation and ferti!iz-
ers, and in consequence the cost and the
price OF the staple viii advance. The cen
.sus figures confirm this prediction most
curioUsly.
- II appears from them that every person
IN tie United States consumes each year
the product Of 296-gay in round numbers,
three acres devoted to the product Of food.
Ia 1880 the population Of the country was
10000. 900 and the acreage in food products
was l6j, O00 900 acres, which left the product
Of 1900 900 acres available for export. In
1885 the population was IS, 100000 and the
acreage in food products was 1S6, 600 900;
thus the acreage producing food for export
was 90 600, GOO acres. In 1890 the population
was 2,JO0, coo, the acreage in food products
198, SEQ. 600 acres, and the acreage producing
food for export was reduced to 100000
acres. Tie population Of the country is
increasing at the rate of about / SOC. 900
souls per year, so that an Increase Of $780,
O00 acres in land devoted to the product OF
food is required TO enable US 10 export the
quantity which we sent abroad in 1890.
But the actual increase, as shown by The re-
ports Of the Agricultural Bureau, is nearer
I,50O, 600 acres than T. 800, 600 acres. and there
is little prospect of its reaching larger fig
ures Mr. Marshall, who has devoted much
study to the subject, has arrived at the con-
clusIon that the total actual area Of unoccu-
pied land which can be devoted to wheat
growing is not over 100000 acres, so that
il the population continues to increase at It's
present ratio, the whole wheat crop Of the
United States will be required for consump-
ton at home IN eight years, or at the end OF
the century. There does not appear to be
any escape from bis conclusions.
Two remedies for tho coming deadlock
suggest themselves. Americans may sub
etitnte lower grains, such as corn, for