New-York tribune., 1896-10-25
THE BOOM IN WHEAT.
CAUSES THAT HAVE LED TO IT AND RE-
SUITS THAT MAY FOLLOW.
THE WINTER WHEAT FARMERS WILL PROFIT


Up N PRICE.
The rise Of % cents bushel in wheat
with the enormous speculation that accom-
panied ii came about with such phenomenal
rapidity that for few days il even diverted
general attention from the stirring incidents
that mark the close Of the most exciting and
most important political campaign since the
war. Everybody has been talking wheat for
the last ten days For rapidty the advance
stands almost without parallel nothing like 1t
having been since the great American Civil
War Its effects have been worldwide. Specu-
lators and farmers are not the only ones who
Will reap golden harvest from this rise in
wheat II has started tremendous boom in
ocean freights and put new life In the tagging
commerce Of the oceans. Bustle and activity
have succeeded the drear stagnation that ruled
Tor SO many years along the water-fronts Of
the great exporting cities Of the seaboard.
Shipping merchants cannot meet the sudden de-
mand for charters. The stevedores cannot sup
ply enough brawny longshoremen to do the
enormous work required in loading and unload
ing vessels According TO an excellent au-
thority no fewer than 100 steamers have been
chartered TO carry wheat out Of the port Of
Baltimore. and the tonnage that has been con-
Atlantic ports amounts TO the imposing total
OF o0OOO.OOO bushels. The same unwonted de-
mand for grain tonnage that has prevailed
aons the Eastern seaboard is reported from the
Pacific Coast. whittier vessels are hurrying from
all parts OF the vast Pacific Ocean as fast as
steam and sail can carry them.
The anomalous conditions now existing have
resulted in the extraordinary spectacle OF wheat
frcv ~ De-
TO India. the significance Of which can be
judged by the fact that In all the years since
the American war India has been one OF the
chief wheat-exporting countries of the globe.
her exports having grown from about 100000
bushels in 1868 TO 2100OO0O In 1895. and In
nve years Of that period. namely. from 1883
to 1887, inclusive. they averaged as much as
0o,OO0OOO bushels year. The telegraphic dis
patches still report India In the curious position
OF an exporting as well importing
"y al this time, cargoes being sent to India
from San Francisco and Liverpool last week
eoincident with the export OF 1900 bushels Of
~heat from Kurrachee and Bombay to the
continent and the United Kingdom Just why
"neat should be exported from India to Eu-
aope when the need for It at home is so great
"a' 1t Is being shipped thither from Liverpool
.no San Francisco is one Of the remarka BILE
.n'ngs In the present commercial situation.
"ot less remarkable is the fact that cargoes Of
"neat should be shipped from the Pacific to
1"o'a' l4OO0 miles. when the grain could be
procured, II Is alleged. cheaper at Black Sea
pos1 and shipped TO India a distance OF 1000
'N'es' IT is not the purpose OF this article how
eeT. to explain all the commercial mysteries
connected with the wheat movement at present.
out rather to point out the vast benefits the
nse In price has conferred upon American
wheat-growers
outside Of the spectators who have amassed
sFeat fortunes from the advance In wheat, but
VINO 90 not count for the reason that their fort
aaes may melt away before the year is out. the
s'eatest benefits accruing from the big rise go to
9ne Woodworking toilers on the wheat farms
scattered all the United States; for with the
reception OF Rhode Island Massachusetts. Con-
.ecueot. Louisiana and Florida. every State In
.ne Union adds its quota to the commercial crop
'" 'nis country. The wheat crop Of America this
sesr Is estimated by Mr.. Brown statistican OF
."s New-York Produce Exchange, at 42o.OOO,OOO
susnels. A rise OF 2J cents a bushel means an
-ooition to the value Of this years wheat crop
" 1he huge sum OF $106. 100000. in round num-
'@s' II the advance is not maintained at 20
~nt. then even at 20 cents bushel it means
~ sdoed valuation OF $S5000000.
Al OF this. of course. will not go into the hands
!" Inc wheat grower. for. as the season is now
se.Fly four months old. great deal of wheat
- necessarily been marketed from first hands
snyserfheless. as pointed out in The Tribune Of
oWooer 2. as much as $130.O00000 has been
.aoso to the profits Of the farmers by the rise
.ne prices Of their products directly due to the
4 aoen and exigent demand for American wheat
T. cotton, cattle. hogs. oats and Z multitude
v-products have followed the upward move
amt Of wheat
1ursner down IN this article are figures show
NE unusual shortage Of wheat in the world
"a aow drouths ana hot winds In India and
''as floods In Russia ana locusts in Argen
ssvs largely cut on these great wheat'ex-