The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-25

costly lesson to the short seller. showing that
it Is not always safe to sci sell growing crops
gone to dollar last May or June; the legiti-
mate situation warranted it; but, as soon as
our new crop showed fair prospects every
bear and speculator began TO sell wheat for
September delivery at about 60 cents when
cash wheat was worth considerably more
The foreigners would naturally only buy
from hand to mouth, to satisfy their most
pressing wants. under subj circumstances,
and they bought so sparingly that cash wheat
actually declined instead Of advancing The
result is a good Illustration Of the old
chickens before they are hatnhed..' The grow
ing crop did not turn out to be abundant
as expected It rarely f9 sMnn A Europe was
while the crop actually harvested the world
over is one Of the smallest, If not the small
est. = }
have my personal opinion Oof the man,
or set of men, who try to deprecfate the value
of the crops. Suffice 1t to say that l believe
they are the S tbers 10 %e SSr
to prevent 1t 1 would be most heartily in
favor of it.
SELF nor was any company controlled by me-
short single bushel of wheat or any other
agricultural product. l chaHenge any man
Third am especially glad OF the advance
at this time, because l believe it has come
to stay with us for while We doubtless
will have reactions The farmers of the
Northwest may market their crops freely
as to cause a temporary reaction. Such re-
actions are natural and to be expected but
I make the prediction that the average price
of choice milling wheat will be above q dollar
in Minneapolis for the year to come and after
the rush of the first farmers deliveries there
will be plenty of opportunities for every farm.
er in this state who has genuine No. north
ern wheat to obtain dollar bushel for it at
his nearest country elevator
Ny reasons are concisely these: The crops
of all other exporting countries are much
smaller than has been generally supposed.
Thesvisibe and invisible all over the world
is down to the smallest supply ever known.
America is expected by Europe to furnish
larger amount of wheat than she ever did
before This it is simply impossible for her
to do. Because, when you take into ac-
count our present crop, which is certainly
not over 500, 600 GOO bushels, and the visible
and invisible supplies, we cannot export
single bushel more than we did last year
and much less wheat than we have In some
previous years.
We start in on this crop with all the
accumulations of previous crops exhausted;
having been once exhausted, we cannot draw
upon these supplies again.
Another thing: I believe these high prices
of wheat will not be confined to this year
alone. Our invisible supplies, the world over.
have been so drawn upon that it is going to
take more than one large, full crop all over
the world. to put prices as low as they have
been.
So I look for better times-commencin
with the prosperity of the farmer and labor
Ing man, and reaching down even to the
moneyed magnates of the East.
1 hope the West will soon begin to hold
up it's head higher than ever; and, instead
of following in blind subservence the die
tates of the Eastern magnates, will start
out with broad, liberal policy of it's own,
which will consider the welfare and pros
perity of every section of our common coun-
try. We have been fast getting into more
Independent position. These improved prices
for our crops will help US to make still
further strides in that direction. Shall we
not avail ourselves of the opportunities Di-
vine Providence is just throwing into our
hands, and make true the prediction of one
of the greatest statesmen of the day, that
the seat of empire of this country would be
located not far from where we now are?
TO accomplish this, we must be led by men
OF brains, who have been successful in their
own undertakings; by men of action and not
OF theory; and, above all, by broad minded
men, who realize the wants of our whole
country, and not of section, only.
But must apologize to you for taking I'D
SO much of your time. I will only say. final
ly, that l am glad of this advance be-
cause it will throw the calamity bowler our
OF job. see him, in my minds eye in the
immediate future, aimlessly and gIoomilv
wandering about, with the idea foremost in
his head that mankind and nature have con
sp1red to rob him of his only means of max
ing q livelihood