The times. [volume] (Richmond, Va.) 1890-1903, 1897-09-23
THE UHEAT STdTUS.
Is IA Dollar a Bushel Too High for the
Crop This Year.

crop iHlH
The Chicago Chronicle is inclined to
think that a dollar bushel is too high
for wheat with some Introductory re-
marks As tehow figures may be made to
lie. IL says: c..
that there has been a great fan IN the
nrice Of wheat since 1883. Before that we
had about dollar wheat farm value
for many years, according 10 the stdlls-
tichn OF the Agricultural Department az
Washington, allowing for depreciation Oh
the paper money IN whlcn values WSl1
stated. There were considerable deNla
lions from the dollar lines, as IN lSio'
when the average value was a traction
under IS cents, paper, and In 1871, When IL
was a fraction over llJ cents, CON- bul
these were extremes. The general aver
age was not far from 81 ,,..,.,,,.
Then came a sharp decline ana TOT eIsht
vears tho average was somewhat ABOUT
- cents. leaving out ISIS, when tne aver
acc was near g3 cents. After 1871 came
another decline and since then UNIV this
year the average has been nol Ia. III -
cents. These falls seem 10 indicate scu-
eral downward tendency, Que 20 soihc
cause or causes Of a permanent chai &C lyl i.
Tho Increase IN production undoubtedly
Is one OF those causes. the WoIiu ~
ductlon I'm 1856 has been estimated AZ
. 0qi am 0aO bushels. NJ Il. Masters, Writ
IN
tir,a before that said the world s crop
US estimated al nearly 2,W0"eNn busHc
els ana stated that the production oI
wheat had Increased enormously SUI
tho extension Of railways had mace pc
eitia the TRANSFORMATION or grain TOT sIra'
absences Inv land" The fact thus GeheT-
all, stated NAV serve 10 account Tor the
decline about 1875. 49,, s,,-oaeed
r, iSai the worlds crop had increastu
N s72 700 go bushels. or al1'1V'v D.S' -
ole or 81 ner cent. more IMAM w ~ ,oCe
zee. r,ho farm price 81 orr 'r'P 80, "A d,
~" 20 : .orts nor hushel and IN 1891 ~.
ro,,teHa ,all Of 2s - per cent our lal ~ ~
80. 80. is rsed FOR convenience. out siH'.
tr close sympathy always "l.m-,so
y.orId's' prices IL will serve INC
IS well as any ,.. ora not 10 be
while the figures given are etated
ll"1 ,ron implicitly as above sta,tt'
~. ,bo,. correspond In a genera w. toaet
ye. , 10, observation and serve d. ,or,i
Ia n measure 10 account loi ''0
decsli'S I,ent 10 which the price may nay
~ osfected bv the extension OF ~.
roeds and the consequent orhel"s ,bsraG
ioDd under cultivation may oe 49,. a.
sror, the fact that the area llt - to4 -
~ United States increased l.O'l 80 20 tr
zoe ocros in 1866 10 81 9bS'l' aS' -
80 and that our crop Increased lrot1
- 600 ios bushels In the former year u
DOS 40 Sos bushels in the lattei. 40
since 1850 our acreage IN wn 1...erd ,as has
creased and the crop on w ,'ear B2t the
U DggI crop. according 10 the best IN m
formation we have. has increase,SI $50 NOR or
tSan COO 600 600 bushels since looV' Vi
n would seem. therefore, that 5oa o sno Goo
age Of 100000. or even 10 1 means so
Dua,, a matter as II would have Deen
fifteen years ago sh 56i,ie sti III eaye
1be worlds absolute supply az least iVV,-
ooS 900 bushels. or over 20 per cent. great
er than it was then and gr eyee the since pee
S1p, ,,ia .ion has not Increased 20 per cent
II This is really the case as the PES ,5e
statistics we have plainly indeaee' nav ,ny
o. sa,a orr EXPORT price much higher.
But we must not be too sure OF that ;,,, De,
mand may be greater because ca es m II wSen
a. cost more. and they pay more rather
than DENY themselves