Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1896-11-06
Is Dollar Wheat" In Sight 7

The possibility of the price of wheat ris.
ing to one dollar bushel before next May
is an interesting and important matter to
transportation agent and to the general pub
lie.
The question may be approximately an
swered by calculation based upon "Circu-
lar No. TO-" recently published by the De-
partment of Agriculture, and upon figures,
presented in the October summary of the
Cincinnati Price Current.
The Government estimates of the wheat
crop for the past five years show an aver
age annual product of 490,246,21S bushels.
For seven years the average is little high
er, and the figures, as corrected by the Price
Current from the actual sales of wheat
may be stated in round numbers at 500, 900,
600 bushels. In other words, this is the
amount produced each year for the last
seven years, and includes the amounts used
for seed, for home consumption and for ex-
port.
The last named item is stated in the Gov
eminent circular as III, 731 ,4SO bushels an
nually, including 70,710,000 bushels sent
abroad in the form of wheat -four. That
leaves 1898 100000 bushels for home con-
sumption, feeding to stock and for seeding
purposes.
The per capita consumption of wheat in
the United States has been variously esti
mated from 1856 to ATT bushels annually.
| cnnaaruativa auaru0a estimate haaaA nm
on Government reports, and the expert
ments inaugurated by Bradstreets a few
years ago. is 40 bushels for each person in
the country. The population in July was
stated by the Government actuary to be II =
800, 900, and, on that basis of computation
the consumption of wheat this year will be
not less than 32l 100000 bushels. At the
average rate of export, therefore, less than
| 100000 bushels would remain from the
average yearly product for seeding the new
crop of 1897.
| The full estimates for the 1896 crop have
not yet been made, but it may be assumed
that it will not be quite up to the average Of
the past seven years. We may put it, for
convenience, ut 475,000,000, and be well
within the true figures, of u short crop
With home consumption of 321 900 600
bushels, there would be left 1874 ,000, 600
bushels for export. The surplus of the old
crop was 100000 bushels, and a very
sharp demand would be required to reduce
the stock on hand below 100000 bushels
next May. That would leave $4,000, 600
bushels of wheat available for export dur
ing the crop year of 1896 81. But about
60,000,000 bushels have already been ex
ported so that something like 10000 900
bushels can be sent abroad between Novem
Der and May 80.
According to the best authority, the Eu-
ropean crops are 100000 bushels short
this year the Argentine crops 100000
less than last year; the Australian fields
have produced 10000. 900 less than last year
and the crop in India is more than 100000,
900 bushels below the average.
This would indicate that there will be a
large hole in the worlds markets to be
filled by American and Canadian wheat,
and the steady prices in Liverpool hold out
the highest expectations that "dollar wheat"
is among the possibilities OF trade between
this time and May 81, 1897. -Balto. Herald.