The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1896-08-20
.Nots,, ny rillsburx.

i
present very low price Of wheat?" was
the question sprung on Charles A. Pills
bury, to-day. For wheat was even lows
er at one time today than il was ysster-
day.
First said Mr.. Pillsbury, II will
tell you what is not to blame for the
present low price Of wheat. 1t is not
the big crop in this country. The crop
we are just harvesting, both spring and
winter wheat. taken together, is the
smallest one have ever known. We
had light winter wheat crop last year,
but the spring wheat crop was boom
er,-almost enough to make up the
whole deficiency in the winter whea:
crop. This year our spring and winter
wheat crops will exceed 400, OO0. 0O0
bushels; as sixty or seventy millions OF
it is raised west OF the Rocky mountains
it follows that we have not raised
enough for our own consumption east
OF the Rockies, :.
Second 1T is not becaua PIT the big
crops raised in other countries. Every
country south Of the equator. including
India, the Argentine Republic and Aus
tralia GALL OF which harvest their crops
IN the spring., raised an unusually small
crop.
"Third-It is not on account OF ex-
cessiye stocks of old wheat left over.
Stocks OF wheat in Europe and afloat to
Europe are the smallest ever known, be-
ing only about 55 per cent Of what they
we're year ago. Stocks of flour are so
low in Europe that spot flour is com
mandine good premium ever Hour to
arrive, thing almost unheard OF before
and stocks IN the hands OF the -four
dealers in this country are down to bec-
rock.
"Fourth-It is not on account OF ex-
cessive crops in Europe. Europe, as
whole. has about an average crop.
England (which, in its best year. never
raised as much wheat as Minnesota will
raise in good veal has good large
crop-above the average. France may
be slightly above an average, but Rus-
STA is away below the average. So,
Europe. as a whole. has just about an
average crop.
SIN TWENTY-FIVE years Inever knew the
legitimate situation so strong. 1t IS as
PLAIN to me as that two and two make
four what the trouble is. 1t is the
tight money market, and the apprelen-
sions of still tighter money markets, on
account OF the agitation IN favor OF free
silver. Without going into the merits
or dement's of tree silver, people will not
loan money which today is as good as
cold if there is one chance in hundred
that when it is repaid them it will be IN
money based only on the silver stand
ard. ~
"What we are suffering from is not
want of circulating medium, but want
OF confidence.
"Now. wh.a at is bound to be great
deal higher, no matter who is elected
president. 1t would be worth today nj
teen or twenty cents more in gold than
il is now if McKinley's election by an
Overwhelming maj erity were an assured
fact. If, unfortunately, Mckinley is not
elected, wheat will be nominally worth
mere than it is now: that is to say, it
will bring more cents per bu1hel, on sill
yer basis, than it is now bringing on
gold basis; but / doubt if it will be
worth actually as much Ill purchasing
power.
"As long as it has been definitely
proved that was not the author OF the
celebrated Hold your wheat circular,
issued several years ago, and we have
found out the man who was, have this
to say: II my judgment is good for any
thing, the man who holds his wheat
will get nearer seventy-f.e cents for it
in Minneapolis than he will fifty. no
matter who IS elecled president. But
unless the election of Mckinley is abso-
Iutely assured. he may have to wait I'M
til after, election, before he can do this.
l have great hopes that the tact that
Mckinley is going to be elected presi-
dent will be SO apparent before election
that we should feel the good effect of it
before that time. / think it would be a
great misfortune to have him elected by
the skin OF his teeth; what we want is a
good, rousing old majority.
wheat is now the lowest ever known.
The legitimate situation Il mean by this
the actual value of the wheat based on
the probable supply and demand) is the
strongest lever knew it. will stake
my reputation that these facts are true.
The farmer can use his own Judgment as
to whether. under the circumstances he
would better hold or sell his wheat"
Is DR.. NivEN.
Y Will he in Glenwood. Aug. "a
u Sank Centre, Aug. 25 and &c