Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1894-07-05
[R. u Journal contained some interest

knowledge eff the extent to which the
growing volume of Argentine exports has
been cutting into the American wheat
trade. The great majority among us.
in fact, would doubtless be fairly startled
to learn that, emitting all consideration OF
flour the wheat exports of Argentina are
already actually greater than those OF the
United States. That is the fact. however,
as the latest statistics on the subject con-
clusively show Thus in February last
our exports were 4 1000, 500 bushels, those
of Argentina 1926. 600 bushels; in March
we exported 6.345.S1S bushels, Argentina
OPS 900; in April American exports were
5,O7S,346 bushels, Argentina 9,392O 900
bushels Nor is the whole story told IN
these figures. Not only has Argentina al
ready surpassed us as purveyors of wheat
to Europe. but she has attained to her
present superiority by strides which, II
kept up, must presently leave us very far
behind.
1.-The course of the export grain trade
Of the two countries is an interesting
study in comparisons. Our exports OF
wheat have been distressingly 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 Febru-
airy, 1893 in March the loss was about 10
per cent, in April about % per cent. On
the other hand. Argentine exports in Feb
ruary showed a gain of 16 per cent, III
March they more than doubled and in
April the gain was So 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 well-known English importer, is now
taking 100000 bushels a month from
country which Il year ago sent out only
4, 400, 900 bushels, and which a few years
ago sent abroad no wheat at all. When
to these portentious facts it is added that,
Notwithstanding the large quantities al
ready shipped, Argentina still has left of
this years crop at least 100000 bush
els for export, we begin to get some idea
of the meaning, for our farmers and for
all of us, Of this new competition.
1--WE can begin to understand better,
too, why it is that the total wheat en-
ports from this country for the ten months
ending with April were only 19,O13,21S
bushels, against 81, 165, O47 bushels for
the corresponding ten months of the pre-
ce(ling year. We need not stop now TO in
quire just why Argentina gets the better
of us in this trade; the fact should be
fully appreciated first. And the fact is
that Argentine exports are likely to in
crease still more in the near future. They
would increase, no doubt, under natural
conditions; but they will be specially
stimulated by the present peculiar sltua-
ton in that country. The payment of in
terest on the foreign national debt and on
the English capital invested in private en-
terprises is taking $50, 900, 900 Il year out
of Buenos Ayres, and the government is
at the same time continually issuing new
paper notes. The circulation, already eX-
cessive, is thus becoming more valueless
and the gold premium has risen to 80.
This decline in the purchasing power of
the currency tends, of course. both to
o1,n ,ny.tc, mud 70 hn n
of exports. Paying the cost of production
in deprecated paper at home and selling
the product abroad for gold is always 4
rather profitable operation, and the Ar
gentines are likely to try to make the
most of the opportunity while it lasts.
No Improvement.
In an editorial printed by the New
York Tribune on what the country has
gained by the majority vote of 1892. it
says: I'm what respect has the transfer
of power to a Democratic Congress
brought improvement in government?
Besides an extra session, we are now hay-
ing Il regular session of more than the
usual length. Yet it cannot be said that
any good thing has yet been done to COM
pensate for all this loss c. time and effort
and expense. The purchasing clause of
the silver act has been repealed, but by
the votes Of Republicans with a minority
of Democrats, and this would have been
done by Republican Congress under the
leadership of Senator Sherman himself,
since the act had sufficiently tested the
usefulness of such purchases. Not one
other change has been made which can
be regarded as a step toward improve
ment The time has been wasted to an
amazing extent by the incapacity and alb
sencc of members of the majority, and
even the most necessary appropriation
bills have not yet been passed, though
the government will be left in two weeks
without any provision for its expenses.
Absolutely nothing has been done to pro-
tect the treasury against the rapid ex-
haustion of its reserves for the redemp-
ton of circulating notes, nor to guard the
business community against depreciation
and distrust of the currency. The earnest
efforts of Democratic statesmen and jour
nails have not been able to awaken Con-
grcss to the necessity of authorizing a
popular loan at a low rate of interest,
instead of borrowing under great disad-
vantages on bonds of the kind authorized
twenty years ago.
Congress has not yet passed any tariff
bill. but it has gone so FAR that thousands
of the most earnest and intelligent Dem
ocrats declare it would be infinitely bet
ter to leave the Mckinley law in force
than to pass the shameless bill of sale
and surrender The sugar bargain. with
all it's scandals, the grant of utterly in
defenSlDle 1aVOrS TO an Ou1OuS monopoly,
and the indecent bartering with other in
terests for votes enough to give the Sugar
trust it's bride of millions, have made
this revenue bill more offensive to the
people than any other measure of that
nature ever framed by Congress. Yet it
seems likely to pass. not because Demo
Gratis approve it or want it, but because
they think it Il partisan necessity to pass
some tariff bill. and this infamous sur
render to the trusts and monopolies is be-
lieved to be the only bill that party can
frame and pass
Free WOOL and Texas.
The business men of San Angelo. Tex,
held meeting on the 18th Of June to
protest against the Democratic scheme to
put wool on the free list. The resolutions
which were unanimously adopted, are rs
follows:
Resolved, l. That we, the business
men. wool growers and citizens of West
Texas, in mass meeting assembled. ig-
noring party lines, solemnly protest
against the action of our senators and
representatives in their unjust and I'M
patriotic discrimination against the inter-
est of their districts; and be it further
RESOLVED. that we pledge ourselves