St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-06

slider the questions involved in the great
declines in the prices Of wheat that
have occurred during the past year.
This is a mercantile Cor trade) subject
more than matter of politics, but the
enormous losses of more than SlO0,O00,-
900 in tue prices OF the wheat crop or
this country this year can be attributed
so clearly to Republican efforts to legIs-
late in congress against the wheat
growing interests that, from all classes,
it calls for an emphatic condemnation
of the Republican policy OF encouraging
and fatlening monOpolies.
Cann OF BE Contradicted.
In last Sunday mornings issue of the
GLOBE causes for these declines in
wheat. arising from the efforts of Brit
iSh-American flour milling operators,
were plainly shown, and no consistent
denial OF those CAUSES has been pre-
scented to the public during the week.
The article was published IN ample time
for reply. 1t remains unanswerable.
None who understand the situation can
consistently undertake to meet the facts
and figures.
A telegram from New York, published
all and Democratic newspapers, said
that the American Agriculturist, III all
elaborate review of the wheat situation,
showed the worlds wheat supply this
year to be by no means as great aS the
worlds wheat supply OF last year, and
its reports indicate a total wheat crop
tin the United States alOne) Of 494, 434,-
900 bushels for 1892. The Agriculturist
also credits Minnesota with crop this
year of 81, 100000 bushels.
The farmers and grain men all know
that the prices Of wheat are fully 20
cents per buShel lower than they were
year ago, Notwithstanding the present
smaller worlds wheat supply" These
declines cause reduction OF more than
Sl23, 900, 900 in the values OF the wheat
crop of this country for 1892. ard is be-
ing borne by the farmers who have to
sell to the British milling
syndicate and spectators at the present
low prices. Minnesota alone suffers to-
the extent of $l3,000.G00 Oh her crop OF
52.0000U0 bushels.
Effects OF the EVasaburn ELL.
These serious market conditions were
brought about largely by the introduc-
ton of the WaShburn anticipation bill,
which took much of the attention of
congress during the last session and
which kept many men, who formerly
competed in the purchase of wheat dur
ing the harvest seasons, from buying,
especially III the great Eastern markets.
With these men driven out OF the field
the millers buy the crop for less money
or leave much of the wheat in the
farmers hands until the British specu-
| IatorS want to take hold. This Is no
mere theory Of the present time.
This view Of the matter was
taken when the anti option law
was introduced by Senator WaShburn,
aud that law found its strongest sup
pOrterS among his senatorial colleagues.
1t damages the farmers by losing them
vast amounts OF money. 1t damages the
trade centers by reducing the volume or
business. The wholesale men are dam
aged by its effect on their trade and col
lections, and the retailers know that
their customers need all their earnings
from crops and wages in order TO pay
their debts, buy the necessaries of life
and maintain the substantial conditions
of business which were renewed 50
nicely throughout the West by the crops
of 1891. Senator Washburn's bill may
| never succeed i'll securing pass
| age i'll congress, but it is men
acing club held over the bus mess in
| terests OF the West that should be
promptly removed forever from the
circles of legislation. The anticipation
| bill has raised an agitation that kept
general traders out OF the market, and
pointed to the removal of a valuable
| adjunct to the grain trade-to the re-
mOyal OF desirable facilities for Oper-
atng in the future delivery of grain and
other products, and these facilities have
been established through many years of
experiment They have been of great
value in building up the immense wheat
business of Minneapolis and Duluth,
and they could only be superseded, on a
| limited scale that would, in all likell-
dood, introduce new monopolistic
method that must, of necessity. require
a vast amount of capital and credit.
| However fluent the orators may be, they
cannot hoodwnk the farmers into be-
| lief that the Republican measures have
raised the prices of wheat. The farmers
| know better. and it is only necessary to
| call their attention to facts in order to
rene w their interest.
Dun's Review.
r. G. Dun & Co.'s New York report
says: wheat has touched the lowest
point ever known in this market-7315c
receipts at Western points being still
numerous, though this week averaging
little less than 100000 bushels daily
Exports have much increased, and re-
covery in price to 7419c has resulted,
but the decline of the week is still 4c."
The Associated Press report from
Chicago. published Friday morning.
said: in the gossip that took the place
of trade it was pointed out that there
| hoe NOT haap Novamhar in txyaptu
seven years in which wheat has sold as
low as it did yesterday $3.50 for cash.
The nearest approach to it was Nov. 10,
1884, when cash wheat sold at 70Ic.
The lowest May wheat sold on that day
was S0c."
In this connection a letter from a
prominent grain dealer of Omaha to the
Chicago house of f. q. Logan & Co.
gives decidedly businesslike view of
the situation. 1t says:
Read This Letter.
You are no doubt as we'll convinced
as we are that the great grain markets
of the country are necessary to the
country dealer and to the farmer, and
we should be much obliged if, in your
own interest, and for the general good
OF the state, you would take SOME painS
to convince the candidates for congress
in your district that they ought to op-
pose any anti option bill which may be
discussed in congress. Without the
outlet which these markets afford, a
dealer would simply be swamped in q
months movement of grain, and we can
imagine 10 price. however low. at
which he could buy and be assured OF
safety if he had to wait on conSump-
tive market to take his stuff. No daily
bids could be sent out, as the bidders
could not hedge. and consignments
would find no market when a market
[ ,rnuId he alSaluinlN npnpSSarY ORG