The Wichita daily eagle., 1896-11-29
EATING AND PRODUCING WHEAT.

ln POLITICAL ulScuSS1Ou. EOlu 1901 uAeAa
the middle of September this year the
decline in wheat and silver bore close
relation each to the other. With the
first order for wheat shipment to Cal
cutta the world was Informed of con-
dition Of affairs that was to revolution
ize the prices OF wheat and silyer-they
were TO part company in the markets
OF course it might be explained that ex-
traordinary circumstances would occur
that would force one or the other up,
and as these conditions passed away,
the equilibrium would be restored. But
argument was useless. In the heat of
the campaign the magic tie between
wheat and silver was broken. 1t was
alleged that Mark Hanna's campaign
fund was at the bottom of the advance
in wheat, but as the price has gained
several points since the election the real
reason for the higher price Of wheat has
been acknowledged. 1t is not to be
overlooked that the prices of marketa-
BILE articles have made an advance since
the election-better general business
since and disorganized condition of
business before election accounts for a
slight improvement in prices. But the
real factor in the price of wheat is the
short crop in India, Argentine and Aus
tralia.
In India the condition is so serious as
to threaten a famine. The crop is re-
ported to be in many places a failure,
but the actual extent of the failure IS
not clearly shown. Under existing con-
ditions with rapid transmission of news
and easy transportation Of grain, there
seems no immediate danger of famine
Of the old fashioned sort. The fact,
however, is that India, our great COM
petitor as an exporter of wheat, is to
turn importer. The effect that this will
have on the price Of wheat is augment
ed by the fact that Argentine. which has
exported as high as 81 ,OO0,O 900 bushels a
year, and Australia, which has exported
as much as % 10000 bushels year,
have had such ill fortune and partial
failure of their crops that these coun-
tries will have little wheat for exporta-
ton. What the worlds shortage will
be is N after of speculation and differ
ence in opinion. The European crop
averages fairly good excepting Russia,
where advices are conflicting.
What will be the advance in the price
Of wheat is wholly problem. Neither
may it be predicted how long the price
will remain up. If the present failure
should be followed by the average yield
or better. the price Of wheat could not
be maintained and might follow the
downward trend that it did from 1891
forward 1t is said that smaller acre
age has been put to wheat IN the United
States than usual this year. owing to the
low price in the early fall. A lighter
Weld in the United States would have
a tendency to keep up the price through
a short series of years at least. In 1891
there were great failures in the harvests
throughout Europe. The price went up
but contrary to expectations, after No
Nember a decline set in which was con-
tinuous owing to the unusual supplies
sent out by India, Australia and Argen-
tine. The failure in 1877 sent the price
up to nearly 50 in New York. In the
light of past events it would not be
safe thing to hold wheat in anticipation
of any such prices, while at the same
time there seems no reason to anticipate
While in this country we look upon
the high price Of wheat as an evidence
Of prosperity, not only of profit and con-
tentment to the farmers but of general
prosperity, in Europe the high price of
wheat is looked upon with suspicion
and even dread. Europe, being consum
er rather than producer, requiring a
large importation to meet current wants
sees in high prices for wheat, high prices
fer provisions. high prices for bread,
scarcity-and the end being dread
riots" The fact is the majority Of Eu-
rope Is for cheap wheat and cheap pro-
visions, while high wheat in the United
States brings money into the country,
makes the farmer the best customer of
the factory, gives us the widest and
most substantial prosperity. The ma
tions Of Europe are the consumers and
buyers of wheat; the United States are
the producers and sellers of wheat. The
interests of Europe and the United
States are antagonistic on this subject.
They want cheap bread: we can't have
high wheat and let them have cheap
bread.
If the theory OF Mr.. Malthus were
true the farmer would be on the want
age ground. Unchecked population
would so on increasing. The area of
wheat producing land would constantly
fall in relation to population. The ever
increasing population would make an
ever-growing competition for the farm
ers' products, and prices would be up
ward. upward While the ultimate
spectacle in Mr.. Malthus' calculations
was famine and starvation the point of
vantage was held by the former to the
last-he was producing and selling food
at his own price. The trouble about
Mr. Nautilus prediction is that it not only
does not appear 10 be coming true. but.
viewed from the farmers point of view.
from the price OF his products it does
not seem to be working in that direc-
ton. Malthus' wholesale famine for
lack of the worlds food supplies is so
remote as not TO stimulate farming In