The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-10-23

dia rupee paper 1t seems that London
operators during the summer, In an.
ticipation of the sweeping victory In
the United Siutes for free silver, bought
rupee paper as a speculative venture
| These operators made profit in this
| paper, sold il, and India being the
natural home for II has been buying
Another factor has been the very dull
trade of Eaat Indian countries and
China and japan for raw materials
such as tens, silks, etc."
Aside from the speculative influences
which have been at work in silver, the
laws, Of supply and demand have un-
doubtedly governed present prices OF
wheat. Extraordinary causes are Mt
work this year to advance the price OF
wheat, and were 1t not for the depres-
sion which is due to the rise of the
price of gold, wheat prices would now
be very high. The wheat crop In the
United States is very short this year,
being 56,000,000 bushels less than the
average crop for 20 years. The last
government crop report placed the crop
at All 100000 bushels. Add to this the
available supply OF 52,Ooo,oOo, the of1.
cial estimated reports, mnkes the total
crop 403,0oO,O0o. The expectation of
wheat has been phenomenal this year,
and If kept up at the present rate will
reach fully 150,OO0.O0O bushels, leaving
but 313,000,000 bushels for consumption
and seed purposes in this country
which is not enough for the actual
needs.
Probably one of the creates! inHu.
'ences that have ever appeared in the
history OF the wheat trade has been
Argentina's production of enormous
quantities of wheat, which began
few years ago. and ever since that
country has been factor of the first
Importance. Last year she shipped
enormous quantities of wheat and this
year nothing. nor will she, as her crop
Is practically ruined. The crop of Aus.
trnlia Is only 30 per cent. Of last year,
and the most conservative Of the esti-
mates Of the damage to the Russian
crop give decrease under Inst year Of
150,000,000 bushels. The almost COM
plete failure of the crop of India has
which has never existed in the history
of the grnn trade before. Add to these
features the failure in the potato crop
in Germany and Ireland.
The expectation of wheat, IN guam
tity, has been astonishing, In the last
two weeks over S,O00,O 900 bushels hav-
ing been shipped. A number of car
goes were sent to India, being the first
shipments ever made to that country.
Big operators in wheat like John Cud-
ahy, w. T. Baker. w. II. Linn, August
Drosseau and Armour have had men out
for months to estimate this years crop.
The reports received by them have
caused them to give expression to the
belief that the United States would this
year rasc less than 400. 100000 bushels
of wheat. Upon these estimates, and
the enormous exporting demand, they
have built their hopes for higher prices.
That they do not take any stock In the
assertions so often made by the repnb-
Leans that the advance in the price OF
wheat Is due 10 the belief IN the minds
Of the people that Mckinley will be
elected Is shown in the statement made
by Mr.. John Cuduhy, who said 1t mode
no difference who was elected presi-
dent Of this country, wheat this year
would go up just the same.
In corn, oats and provisions, there Is
no shortage in this country, and such
minor advances as have been made
from the lowest prices that have been
ever recorded in either of these COM
modlties are only in sympathy with
the advance in the rrice OF wheat.