St. Paul daily globe., 1893-05-07

amount of As, 600, 900 bushefa. India has
a comparatively good crop, say 2oV,-
100000 bushels. Australia has marketed
good crop, about 25,600,0O0 bushels,
and the Argentine crop is fair. The
Pacific coast will probably have only 65
per cent of crop, and the best reports
we have from Kansas indicate only half
a crop, about 35,000,000 bushels.
"On the other hand, of the present
visible supply G5,000,00O bushels) there
will certainly be shipped 17.500,000
bushels during the next two or three
months. This will nearly all 60 to Eu-
rope and return gold to this country.
The shipments might easily be raised to
80, 100000 bushels under certain condi-
tions of the demand. The outlook looks
strong on grain of all kinds, and mess
pork should sell much higher unless
the receipts of hogs increase surpris-
ingly and the rest of the provision mar
ket looks firm to strong"
Where will the shipments practically
eXpOrts) to which you refer. move from,
Mr. Buffers?
"Well, as follows: Duluth. 100000
bushels; Milwaukee, 100000; Chicago,
1000, 600; st. Louis, 2,OO0 600; Montreal,
100000. Total (WheaU, 17,500,O0O
| bushels"
When the ice goes out at Duluth and
| the shipments are made from there there
will still be 5000, ,0O0 bushels of old stock
| left at that point.
Mr. DaVvsOn's Clear Exposition.
William Dawson, president Bank of Mime
| sota said yesterday:
Il fully concur with the views of conf
| dence in the general stability (or substantial
| condition) of the Northwest expressed by
| prominent st. Paulites in their interviews IN
| the GLOBE yesterday. comparatively safe
| situation is the rule here, and you fail to fno
| reports of business trouble i'll any SectlOn ol
| the Union excepting among the operators III
| speculative shares. The recent Wall street
| furry mostly affected the dangerous trusts. .
| Concerning the credit Of the whole United
States | am positive, from what know, thai
| i'll the financial circles OF London the leading
| Britons look upon this as an exceedingly
| wealthy country. Why, even If all the
! money OF the treasury were dumped
! into the sea they would still consider the
| country worthy of credit. When the treas
! ury negotiated the per cent bonds SO sue
| cessfully, | became fully assured IN IL the
! financiers abroad, as well as at h M were
| convinced of the solVency of oul co nmon
wealth. National notes bearing = per cent
| interest would now be absorbed readily.
! believe that certain Wall street influences
| have been using every means they could de
| wise to affect the currency and bring about q
| repeal of the Sherman silver purchasing act
| AS a matter of policy and to remove any
| preteXt for such Wall street attacks
| | have come to the conclusion that 1t would
| be wise to repeal that Sherman law. In order
| to not contract the volume of the currency 9
method of money issue should be substituted
i'll the nature most likely OF the free coinage
! of silver but at n ratio sufficient to maintain
the parity with gold. These two metals
have travelled side by side as currency, OF
| measure OF value, in the commercial worlo
| throughout the history of civilization
Sometimes the differences in rela
| tive value have caused losses
Sometimes gains have resulted in the coun
tries where changes have been made. Tht
changes in ratios have been made frequently
Free coinage of silver in this country may II
all probability be proceeded with safely OIL
| the basis of the market value of the bullion
Gold and silver colnageS have been ADJUSTED
many times on the basis of market values.
consider that all of the currency OF TIL
country now is sound. The immens
| resources of the United States are bacl
of every dollar of our currency. This ma
sound like greenback talk to some, but ar
not the legal tenders all protected by thes
| resources! There is no certainty that golC
dollar Will remain as valuable as a silver do
| lar. In the days of the gold mining excite
ment in California depreciation in the Yalu
of gold was threatened. The demonetizatio
Of silver is unwise. With the remova
of any unsettled feeling conce nln
! foreign exchange and with renewe
confidence (among the few timorous fol
eigners) that no depreciation of our currenc
will occur the situation will be clear of a
question. L was greatly pleased with tn
utterances of President Cleveland and Secre
tary Carlisle concerning the currency. l sc
no reason why the Indebtedness Of the couI
try should be increased by the issue of bonds
at any rate, at present. Recent abnormf
rates on call loans in the East were not. gel
orally speaking. on regular business. Legit
mate accommodations have without dout
been extended on regular paper during tn
furry. The products of agriculture al
bringing good prices in the West with th
exception of wheat which is now improVin
in value a little and in the South the cotto
crop shows an advance in prices of aboU
10 per cent as compared with a year ago."
Exchange has been irregular during th
. week, varying from 25 to rs cents premium
on New lork. Closing quoted at 81 cent
premium on New York and par on Chicag
between banks.