The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1893-09-23
TO HOLD THE WHEAT
PETITION TO COAST. MERCHANTS
The Farmers VIII Be Greatly Benefited
If Creditors Can BE Induced to
Wait short Time.

PESDLELoN, Sept. 15.-To the Whole
sale Merchants and Bankers of the Pa
cifc Coast States, Greeting: Aconven-
tion of 500 wheat-raisers, representing
eastern Oregon and the Walla Walla
district of eastern Washington, met at
the city of Athena, Umatilla county,
Or, September 10, to consult upon the
interests of the wheat-ralsers of the
Inland Empire in the present money
stringency.
The convention resolved, by unani-
nous vote, that to compel wheat-grow-
ers to sell their crops at the present
prices would result in universal ruin to
them; that if they could hold their
wheat till December Is the price would
appreciate above the cost of production,
and the crop would sell for enough to
pay off the debts due country merchants
and banks, and leave slight margin for
the farmers to live upon during the com
ing winter
A committee was appointed by the
convention to lay these facts before the
wholesale merchants and bankers of the.
Pacific coast and to urgently request
them to refrain from pushing collec-
tions against country retail merchants in.
eastern Oregon and eastern Washing
ton until after January l, 1894.
In pursuance of the duty assigned
them the committee make the above
statement of facts and conditions, and
respectfully urge you, so far as in your
power, to give your country debtors of
the mercantile class until January 1
next to settle their Indebtedness to you.
This request is unusual, but conditions.
are extraordinary. A merchant should
not be compelled to sell his goods for
less than cost, nor should the farmer be
forced to part with his wheat for price
less than the cost of production.
There is no real price for wheat in
this section now. Small lots have been
sold for 2s, 80 and 80 cents per bushel-
figures below cost of raising it, but farm
ers can not sell at these prices without
absolute ruin. We believe prices of
wheat will rise 10 to 20 cents bushel
within 90 days because;
First-The government crop report
for August places the wheat yield for
the UnitediStates at 67 per cent.-the
lowest percentage for several years.
Second-Shortage of European crops.
Third-The large tonnage chartered
for Pacific coast ports.
Fourth-The general opinion Of wheat
buyers that prices will rise materially
in 80 days.
Fifth-Recent heavy rains in this Sec
ton have greatly damaged large guam
titles of wheat.
Sixth-The general loosening of the
money stringency, which is already in
Dictated by reopening of suspended
banks, starting upof factories, increase
of bank deposits and reserves, and rapid
return Of public confidence.
Seventh-We believe that the present
stringency is artificial in character and
in no way the result of natural causes.
AS the motive Tor prolonglng the panic
has disappeared, we expect to see the
panic itself disappear speedily, though
it may be long before the wreckage is
cleared away and business in a normal
condition.
In view of these facts and beliefs the
committee feel confident that you will
respond favorably to the request of the
wheat-raisers, cooperate cordially in
mitigating the blighting effects of the
recent panic, and, by refraining from
| distressing country merchants, save the
farmers from the greatest evils that
have ever threatened them in the mem
DRY Of men.