The times., 1899-06-19


A detailed study of the figures received
by the Treasury Bureau of Statistics shows
that the reduction in expectations is en-
tirely in agricultural products. and in
deed that the total export of products of
agriculture is nearly fifty million dollars
less than that OF last year. In 1898, it will
be remembered, the crops in all parts of
the world except the United States were
unusually light, and as consequence the
prices realized for farm products exported
were much higher than the average for
many years, while in 1899, with good prices
abroad, the prices which American export
ers of farm products are receiving are con-
sequently materially lower than those of
last year. though in quantity the exports
of agricultural products are in most cases
as great as those of 1898.
The average price of wheat exported in
the present year, SO far as the details have
been received, has been "A 1-2 cents per
bushel, against SO 1-2 cents in the cor
responding months of last year; -four also
shows a reduction in value per BARREL
while the average export price OF cotton in
the present year has been 1-2 cents per
pound, against nearly cents per pound
last year. In quantity. the exports of wheat
in the ten months whose figures are com
pleted was slightly in excess of that of
last year, while flour in the ten months
of 1899 exceeded by more than two million
barrels the figures of the corresponding
months of last year. In corn and oats
there has been a decided reduction. indicat-
ing that the demand of other parts of the
world upon this country for these lines of
its production is still regulated TO a con-
siderable degree by their absolute de-
mands occasioned by their shortage in
other lines of breadstuffs In wheat the
reduction in value of exports in the ten
months whose figures are completed
amounts to S22,000000; in oats, to S10,-
900, 600 and in cotton to nearly $50. .000, ,000
there being slight falling OFF in quantity
of cotton exported, as well as in the value
per pound. In bacon there has been a re-
duction in quantity OF exports but this is
more than made up by an increase IN the
expectation of hams and fresh pork, due
to the improved method of transportation
of fresh meats.
One curious feature in the reduction of
Americas expectations relates TO live cat
tle in which the expectations of the year
are % per cent below those of the cor
responding months of 1898, the total for
the ten months being S24, 4S4 .S23, against
s32. .352, S33 last year. Consultation with
collectors of customs as to the cause of this
reduction results in the suggestion ttat
the improved business conditions in the
leading to a much greater consumption of
, beef by our own people, and consequently
an increased price and that that increase
in price is the cause of the reduction
in foreign demands upon Va for our bef
cattle. In other lines of Provisions, how
ever, such as salted beef, tallow hams,
fresh pork, lard, oleomargarine, poultry
and milk, there has been an increase, the
total expectation of provisions in the ten
months, whose figures are completed be-
ing about $S,000,000 in excess OF that of
last year, or sufficient to offset the loss
in the expectation of live cattle.
While the expectation of farm products
for the year will fall perhaps s5O,00O,-
900 below the total for last year,
it does not follow that the farmer has
failed to realize as much for his produc-
tions during the past year as in the pre-
ceding year. On the contrary, a study of
the export figures indicates that the prices
which he has received for practically
everything except wheat and cotton are
higher than those of the preceding year
This is probably due to the increased con-
sumption among our own people, because
of increased activity and advanced wages.
In nearly all articles of farm products
aside from breadstuffs and cotton, of which
there is a constant production in excess
of home demands, the prices offered at
home determine those at which eXporta-
ton takes place, and a study OF the fig
ures of the years export of agricultural
products shows that in nearly every arti-
Gle aside from wheat and cotton, the ex-
port price per unit of quantity has been
larger than in the preceding year. In but
| ter lard, fresh pork bacon, canned beef,
corn. cornmeal, oats. oatmeal, rye, hops,
sheep, tobacco, and other articles, the ex-
port figures of the year show increased
! prices, thus indicating that in practically
all agricultural products aside from wheat
and cotton the prices received by the pro-
ducers have been higher than those of last
| year, while on the other hand the increas-
| ed expectation of manufactured articles
has nearly offset the loss in exports due
to the reduced prices abroad of the two
! great articles of our agricultural exports
! wheat and cotton.