The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-11
WHAT OF THE CORN CROP.

corn crop. What will be its price as
grain. what its value converted INTO
meats: These are questions which
not alone concerns the farmer who has
raised it, but also the trade OF every
market town in the corn growing
states. There is already talk OF fif-
teen cent corn and cheap pork and
beef. The exchange and board OF
trade manipulators of all the great
centers have set themselves about beat
inc down the price of corn. The New
York Press which takes up the ques-
ton from statistical standpoint.
shows some interesting facts. That
paper says that in corn, as in cotton,
and not as in wheat, the American
supply controls the market. Our an
nual production Of corn happens to be
about equal to the wheat production
of the whole world, and governs the
price in proportion. Our actual eX-
Dort of corn for the year 1894 was only
Al. SO6.1 bushels. which brought SlS.-
3IS. $3.50. so that the export is only
one-fiftieth of the crop. The export
of hog products during the same year,
including oleomargarine, amounted to
a round S10OOO.000. Except in the
form of hog products, therefore, corn
may be regarded as non-eXportable
and dependent for its price wholly on
the American market. Pork. being
the finished product into which corn
is convertible. each becomes the chief
sylnpathetic influence in determining
the price of the other. Hence the same
dispatches which announce the bril-
liant prospects for corn inform us that
i'm pork .prices average about 10 cents
per hundred pounds lower than week
ago. and there has been reduction
on pork of 50 cents a barrel. on lard
of II cents per hundred pounds, and on
short rib sides of 80 cents"
1t is Il little remarkable that those
who SO glibly record the vanishing
prices on the pork into which the corn
must be converted before it can be sold
should SO persistently expect the farm
er to be enriched. For there will be
from SOC. 100000 to SOO.000.000 bushels
more of corn divided among them in
its finished form, as pork. but the ques-
ton whether farmers will be enriched
or not will depend on the price pork
and corn will bear under this enor-
nous weight of product.
That the aggregate returns for very
| large crop may be. and sometimes
are. less than the aggregate returns
received for a moderate or even Il small
crop is a fact that has long been IA
miliar 10 statiSticianS of markets. and
also TO farmers.
In 1883 crop OF 1885,. 190, 600 bush
els of corn had an aggregate value of
SEA .561 $50. being 81 cents bushel.
while i'll 1889 crop of Pip S92.o0o
bushels fell TO S59I .91S.S29 in agsre-
| gate value. ST an average price of Is
cents er buShel. Here an increase of
one-siXteenth in quantity of the total
price was accompanied by a fall of
two-sixteenths in average price. Ii
this fall in price was due 10 this in
| crease in quantity produced. then the
! farmers would have saved S19.642,,3i
| in money price Of their product by
! burning UP 49,. 100000 bushels OF corn
or not producing it. except in 80 far rs
the increased supply Of corn and con
| sanrIenfly cheapeuei supply of poTb
may have indirectly returned 10 tbs
farmers in more abundant supplies ol
manufactured goods. transportation
etc, induced by the oversupply Of food
But the last IS an immeasurabie fac
tor
In the same year ISIS, the crop Of
wheat was I5,s5s.Ooo bushels. 4 crol
10 per cent less in quantity than The
average for the decade. bu; brought a.
aggregate return OF SSS5..4>.030. or 3.
cents per bushel II the foliowin.
year. 1882. The crop was 4905Ga.rs
bushels. being oae-iifJh larger thar il
1855. which brought return II oni!
Sss2 49l. 701. II *, cents per hushel
! 4 drop of - cents. or just one-four;I
in price Here again. If this increassi
: production caused this fall in price
then the farmer would hare got ST.
! 1923 more N money return II the!
: had raised 2 Smaller quantity by "a
.4l2.oec bushels OK wheat