Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-22
OUR BEST CUSTOMER:
Half Of Uncle Sans Food Exports
Purchased by Great Britain.
FIGURES THAT ARE RYE.oPENERS.
Great Growth Of Ereadstuff Shipments,
bat American Gold
STILL GOES TO ENGLAND IN MILLIONS
-errcfA1 TELEGRAM TO TIE p1sp.rcH.,

reTEcfAL TELEGRAM TO TIE DIsPATCH.l
New YORK, Feb. 2L-''Great Britain S
Food Supply" is the subject of Mathew
Nsrshalps article for to-morrow's S,ss
which is as follows:
/ should have to be either more or less
than human not to chuckle a little over
saturdays recommencement of gold ship
ments from this country TO Europe. Six
months ago almost everybody was indulging
in pleasing visions OF a return to MS in ex-
change for our breadstuffs of the So 900, 600 i'm
gold which we had sent abroad during the
first half of tie year, and on the strength of
this expected influx of the precious metal
the premature and short-ived September
rise in prices on the Stock Exchange was en-
gineered. But I ventured to express the
doubt whether Europe would send us gold in
payment for the food of which she
stood so sadly IN need, rather than
our own bonds and stocks. ! argued that
gold was quite as much required abroad
as food was, and that the financial magnates
OF London and the continent would do their
best to prevent any great amount OF it from
coming to us. In this opinion was soon
afterward supported by the eminent British
statistician and economist, Robert Giffen,
who about the end OF september declared
and for the same reason taat gave, that not
more than 0GO, or say $50, 600 600 in
gold, will be allowed by the European bank
however, incautious enough to add the fur-
tner prediction that financial crisis would
overtlke this country during the present
month as the consequence of our silver
money measures and this threw discredit
upon ourviewS on the other point, but that
we were both right in regard to it events
have proved.
Great Britain Oar Largest Customer.
The total imports of gold into this country
during the autumn amounted to only little
more than s4O,OOOOOO. They ceased alto
gether before the end of the year, and now
the tide has begun to run the other way.
Notwithstanding all this, j am far from under
estimating the requirements of Europe in
the matter OF food supplies and the conse-
quent pecuniary profit which will result
therefrOm to our farmers Great Britain
especially, will be, usual, the largest Gus
toner for their products. Ever since the |
repeal OF the corn laws IN lS46, British in |
dustIy has been, year by year, more and |
more diverted from the tilling of the soil |
ana the raising OF cattle to mining and man.
uacturing.
As much as u years ago Mr.. Stephen |
Bourne in his work, Trade Population,
and Food" estimated that nearly two-fifths |
OF the substantial food OF his countrymen /
was imported, and that Is 100000 out of the |
45.GOO,OOO OF them were suS taineu upon foreign
supplies. Since then, owing to the enor-
lnously increased production of our new
lands and of the greater facilities and
cheapness OF our railroad transportation to
the seacOast, coupled with successive crop
failures IN the United Kingdom, the proper
tIOn OF Its imported to its homegrown food |
has become much larger. The last five |
months especially are noteworthy in this
respect. From September !, 1891, the begin
ming of the harvest year, to january 30, 1892,
the British imports of foreign wheat and
wheat Hour amounted to 42,g51 600 hundred
weights, while the sales OF the homegrown
product were but l7'642, 600 hundred-weights, |
OF less than one-third OF the aggregate. For |
the corresponding period OF the previous
year the proportions were 81 o $500 to 20. 49,
O0J for that of the year before "a g42. 75I to |
Il. o56 OO0 and for the year 1859 it was 36 no.
800 to l6 6!2 354
That the imports of the articels mentioned |
have been rather in excess of consump- |
ton Is shown by the tall in the price of |
wheat from an average of 30 shillings and |
Od per quarter of eight bushels in December |
ana the first half of January, to about SO |
shlllings for the first week OF this month |
but still, for the last four years, the imports |
into Great Britain of wheat and wheat Hour |
have never supplied less than about five |
elghts of the consumption, and in 1859 they
supplied two-thirds.
As have Just said, Great Britain is our
best customer for food products, but the
extent to which she takes them from Us is
not FULLY appreciated by those who are un-
familiar with the statistics. For myself l |
nave TO confess that until | looked into the |
matter l had no idea that 30 much OF our |
total exports OF grain and provisions go to |
our cousins across the Atlantic. Here are |
The fguers from the official Government re- |
turns OF imports and exports for the fiscal |
car ending June 30 1891