Middletown transcript., 1897-08-07
wnEA, rARIFF. POLITICS.

terest than those matters which affect
the farmer and the prices Of farm pro
ducts. And the farmer of to-day readI
and is learning lessons In finance anG
economics. Following the quotations
we recall few facts. The s'Index y
under the caption 1.-THE Activity in
Wheat" says:
"The farmers OF the country have
occasion to be happy. The price Of
wheat goes gradually higher. The rea-
son can be well understood. 1t was
not on account of the Dingley bill az
our Republican friends would try to
hoodwiDk the people into believing
Neither is 1t a scarcity Of the crop in
this country. The crop is larger than
usual. 1t is caused by the foreign de-
mand. In other countries the crop is
failure. Demand and supply regu-
lates the market as it has always done
since the beginning of time. The pres
ent price of the wheat market has
also demonstrated another fallacy. 1t
was contended during the past year
that as silver would 90 up or down that
wheat would act accordingly. This
was believed by many people. With
| out discussing the question it is well to
observe that while wheat goes gradually
up silver goes gradually down. The
present bright prospects as well as the
realizations Of the dealers in wheat is
an interesting question. The Phila-
delphia Record, >" a good authority upon
this as well as other questions, has this
to say.
Bradstreet's weekly totals show
| that in four weeks of July the clear
ances of wheat and -four from Ameri-
can ports aggregated S,346, SAT bushels,
against 1888, 553 bushels during the
corresponding period last year. The
smaller clearances do not indicate that
there was less demand this seas IN they
are largely due to the fact that the
harvest was late, and that the move
ment is backward in comparison with
that of last year. The activity for the
foreign demand for grain is illustrated
by the heavy chartering movement in
ocean tonnage during last month. The
New York Journal of Commerce on
Saturday reported freight engagements
from the Atlantic ports during. July for
upward Of %, ,000, 900 bushels Of grain.
The list includes 143 steamers which
have been chartered to carry grain from
Atlantic and Gulf ports. These ves-
sells will not all carry wheat, as there
is also an active export demand for
corn but considerable percentage of
the charters has undoubtedly been
taken for the shipment of the new
wheat.
"There are substantial reasons for
the belief that the big demand for
wheat for European shipment is not a
mere temporary squirt, but that it will
continue. The London Statist, under |
date of July "a, says that this years |
wheat crop in Europe promises to be |
the worst since the phenominally small |
crop in 1891. Buyers in the United |
Kingdom, in France, Germany, Hol-
land and in Belgium have been operat-
ing in a hand-to-mouth way for several |
months past, and have allowed their |
stocks to dwindle to the lowest point |
in expectation of good harvests, and of |
q consequent pressure to sell in the
markets of Europe. This hope has
not been realized. The Russian and
French crops are short the Immediate
ly available stocks at ports, af1oat and
in visible supply centres in the United
States are 80 per cent smaller than they
were a year ago or in any year of the
last five, and buyers abroad have be-
come alarmed about the possibilities of
the supply and price situation, and
have turned eager attention to the
American markets to secure cargoes of
The pew wheat. The effect Of the de-
mand and of the strength of the statis-
tical position has been seen in steady
advance in prices. which since July
has amounted TO il cents per bushel.
Present prices for wheat in this country
are about Is cents per bushel higher
han they were year ago and as the
crop movement has only begun, and
has thus far been 5000, 900 bushels less
han for the corresponding period last
year, there is pleasant prospect that
producers will this season realize the
benefits Of the advance in the wheat
markets moTe fully than they did in
1896, when their yield was smaller,
md much of it had been marketed be-
ore the big rise in price took place.
I" In view of the probable magnitude
II the demand it is fortunate that the
,rop of this country will be adequate
o meet it. The United States wheat
Tield this year is not likely to fall be-
ow $4,000, 900 bushels, and may reach
total of $50, 600, 600 bushels or more.
rhe latter quantity would afford an
surplus Of 165, ,e00,0 600 to l
85, 600, 600 bushels, according to vary {
ng estimates of domestic requirements {
or food and seed; but the minimum !
uantity would permit of exports
0, ,000, 600 bushels in excess of the ship
nents during the crop year OF 1857.
The large demand and higher prices, if
would be incalculable
enedt to producers. Wheat, indeed, is
kelly to be as forceful factor in the 9
1878 business revival as it was in the
Wo years that preceded the financial /
anic of 1892 !
Truth We repeat that il only truth /
7ere spoken and written this world e
7ould be vertible paradise. The SIN b
exo says the rise in the price of
7heat is not due to the Dingley tariff, :
nd We believe that is truth. Il says :
ur Republican friends would hood
ink the people into the belief that the 3
se is due to the Dingley bill. And n
Ie believe that is falsehood. The a
Indexn is using the small and con- T
smptible politics Of which it accuses
IS political opponents. Il has no proofs :
, produce of its assertions. And if it :
as it will be found the parties can in :
o way be called representative Repub- i,
cans. Il
But how was 1t In 1892 The Demo- "
ratio papers and campaign speakers h
aimed that the low price of wheat n
I'D all farm produce was chargeable i.
, the Mckinley tariff. We have 4
o doubt the "Indexv did the same.
as honorable and truthful Democrats
] live in the State are 10 be believed
enator Gray whose seat was at stake
as also guilty, and promised a dollar Il
nd quarter for wheat il Cleveland Il
lould be elected. The lack of foreign Il
pmand at that time kept the prices ra
grain low, though in business aud a.