St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1897-09-24
The Western Wheat Crop and Gem
eral Prosperity.

CORRESPONDENCE OF the CALIFORNIAN
Editor CALIFORNIAN:
1t was my pleasure to spend the month
of August in Caledonia county and at
other New England points. During that
time many spoke to me about the great
wheat crop in the West. All seemed to
think that there were oceans of wheat
out here and that everybody would get at
least dollar bushel for it, and that
consequently all would roll in wealth. 1t
was both amusing and painful to me.
AS long as two months ago it was evil
dent that the wheat crop in the North
west could not be large and that the
chances were fully even that it would be
small. invariably told those with
whom conversed in regard to the wheat
crop that they were banking too heavily
on the quantity. Ever since this crop
sprouted it has seemed to be the aim of a
large part Of the western press and some
of the western people, greatly to mag
nifty the prospects, and when, under great
pressure, wheat went to dollar bushel,
although it staid there only long enough
to staPger and fall back, the country
seemed to go wild and visions of wealth
and prosperity were universal
If there are any prize liars in the West,
the prosperity press should be rosetted
and given the first place.
am not in the wheat business, but am
somewhat familiar with this and other
portions OF the Northwest. Since my re-
turn have made it a point to get as
much information about the wheat crop
as could, and shall be surprised if the
aggregate amount OF wheat grown in the
Northwest this year shall prove to be
more than the two.thirds of an average
crop. In quality it is admitted to be
very poor. The reasons Tor the shortage
in quantity and Tor the inferior quality
are quite numerous Much OF the wheat
acreage was submerged by the spring
floods and it was very late before seeding
could be done-the 81 ound has been very
wet during the summer, so that in many
localities it produced heavy straw with
little wheal-there have been many ex-
tensive and destructive storms-and when
much of the wheat was in the milk, there
was hard, warm rain, followed by sui
try. hot weather, which withered the
wheat and made it so light that in some
| Io,nI,t,.e hpc ha1. b1,
only little more than one bushel by
weight.
Most OF the old wheat has been sold
and used up and there is said to be gen
eral shortage OF this years crop in the
world. For this reason our wheat, in
spite of it's inferior quality. is selling at
an advanced figure the farmers getting
probably somewhere from sixty-hve to
ninety cents, according to location and
grade, an advance probably of nearly
sixty per cent over what wheat was sold
tor last year.
1t cannot be doubted that any increase
in the amount of money received by pro
ducers for this crop OF wheat will be a
great advantage to them. They will
have more money to live on and more to
use in paying debts, but it is not safe to
predicate too much upon his increase.
The surplus over the cost of production
is likely to be small, and the chances are
that it has been more than discounted al
ready. The Eastern manufacturer must
not magnify too much the ability of the
West to pay Tor goods, and the Eastern
mortgage must not make up his mind
that the Western mortgager is sure to
have enough to liquidate his indebted
ness.
The price of wheat this year is no
greater than normal, while existing con-
ditions are very abnormal and are not
likely to occur often. We cannot count
on wheat shortage in the world every
year, and it next year there should be
fair crop elsewhere, so as to reduce the
demand Tor our wheat, we must expect
the price to tall in obedience to the law of
supply and demand.
There seems to b, promise of greater
business activity in the country, but the
situation, both East and West, has been
made to appear so roseate that disap
ponment is likely to follow. Facts are
stubborn things and conditions cannot
be changed by misstating them.
We all earnestly hope that the prosper
ity train is headed in the right direction
and that it will find smooth road-bed
and will have lots of steam. but glance
at such things as the coal miners strike
in Pennsylvania and adjoining states
the persistent drouth in Iowa, Illinois,
Indiana, Ohio and Michigan-the great
deficit in the monthly revenues Of the
Countrywide fact that we are getting
little money for the wheat that We are
exporting, but in the place of it are get
ting our own stocks and bonds, which
have been held abroad, and which the
foreigners are unloading on us at the
high prices placed thereon by recent stock
activity in New York, will be sufficient
to make the thoughtful reflect.
HAzEN M. PARKER.
| Minneapolis, Sept. 10, 1897.