The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-08-17
HAS A BIG CROP
The South American Product
Hurting Northern Trade.
Some Facts About the Grain Export of
the Country Which Are Not Gener-
ally known Throughout the
United States.

Il
people have thorough and precise
knowledge of the extent to which the
growing volume of Argentine exports
has been cutting into the American
wheat trade, says the Providence jour
nal. The great majority among Us, in
fact. would doubtless be fairly startled
TO learn that, emitting all considera-
ton of -four, the wheat exports Of
Argentina are already actually greater
than those of the United States. That
is the fact, however, as the latest sta
tistics on the subject conclusively
show. Thus in February last orr
wheat exports were 4,000,969 bushels,
those Of Argentina. 1920, 600 bushels;
in March we exported 6,J35, SIS bush
els. Argentina, 9,i2S, 900 bushels; in
April American exports were 5.07s,3 $40
bushels, Argentina, 9,392, 900 bushels
Nor is the whole story told in these
figures. Not only has Argentina al
ready surpassed US as purveyor Of
wheat to Europe, but she has attained
to her present. superiority by strides
which. if kept up. must presently leave
us very far behind. The course of the
export grain trade of the two countries
is an interesting study in comparisons
Our exports of wheat have been dis
tressingIy falling off during the very
time when the Argentine have been
marvelously increasing. In February,
1894. American exports were less than
half what they were in February, 1898;
in March the loss was about 10 per
cent, in April about % per cent. On
the other hand. Argentine exports in
February showed gain of 10 per cent,
in March they more than doubled and
in April the gain was ST per cent.
Plainly the growth of the grain trade
of the South American republic is
nothing short of marvellous. The
United Kingdom alone, according to
the recent statement OF a well-knOwn
English importer, is now taking 8,OO0,-
900 bushels month from a country
which year ago sent out only +, 1000
bushels, and which a few years ago
sent abroad no wheat at all.
When to these portentous facts it is
added that, notwithstanding the large
quantities already shipped, Argentina
still has left of this years crop at least
80, 900, 900 bushels for export, we begin
to get some idea of the meaning, for
our farmers and for all Of us, of this
new competition. We can begin to I'M
derstand better, too, why it is that the
total wheat exports from this country
for the ten months ending with April
were only 79O73,21s bushels. against
81, 165, 047 bushels for the corresponding
ten months of the preceding year. We
need not stop now to inquire just why
Argentina gets the better Of us in this
trade: the fact should be fully appre
ciated first. And the fact is that Argen-
tine exports are likely to increase still
more in the near future. They would
increase. no doubt. under natural con-
ditions, but they will be specially slim
ulated by the present peculiar situa-
ton in that country. The payment of
interest on the foreign national debt
and on the English capital invested in
private enterprises is taking a20,000,000
q year out of Buenos Ayres, and the
government is at the same time con
tinually issuing new paper notes. The
circulation. already excessive, is thus
becoming more valueless and the gold
premium has risen to 325. This decline
III the purchasing power of the cur
rency tends, of course, both to check
imports and to increase the volume OF
exports Paying the cost Of prOduc-
ton in deprecated paper at home and
selling the product abroad for gold is
always a rather profitable operation,
and the Argentines are likely to try to
make the most of the opportunity
while 1t lasts.