The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-03

SLAUGHTER. This is, indeed, thoughtful
of, him when life is held as cheap as
it is today.
"A New Commercial Problem.
A change so sweeping as to disturb
the ordinary channels Of international
trade, may at no distant day work into
the food supply problem of the world.
It may come about that from the
world s greatest source of supply there
will be no surplus breadstuffs to offer;
that the outflow may turn upon, itself
and draw the foreign product back in
with it. Stranger even than the actual
ization Of the old commercially absurd
adage of "carrying Goals to New
castle' would seem American importa-
ton of wheat, for long has the Ameri-
can product fed the world. The five
Seasons, 1899 to 1908, including an in
different year, three good ones and one
of light yield, witnessed the expectation
in the form of wheat or flour, Of the
stupendous total of 1902, 1884 ,042 bushels
an annual average of 212, 476,000.
In paper read before the Miller g
National Federation, at Niagara Falls,
in June last, Mr.. H. V. Jones of Mime
apolis first touched upon the import
proposition, then considered a contin-
gency only remotely prospective. Con-
ditions since have so changed that the
| question becomes of livelier interest.
Briefly we stand in this wayne
raised in the five years, 1899 to 1908,
1926, $4,000 bushels of wheat, an aver
age yearly production Of 625, 176,000.
| This past season we have raised some
| where in the neighborhood Of 5O0,0OO,-
900 bushels. Meanwhile, our reserves
have been drawn down to almost
nothing, and last year we carried over
little wheat, either visible or on the
farms. Moreover, the rapid increase in
per capita consumption, has made home
requirements much greater. The gov
eminent figures show a per capita con-
sumption for 1908 of 5.S1 bushels, hence
if this has increased, or even if only
maintained, and we have produced no
more than $780, 100000 bushels, there is
practically no surplus this year, and
nothing for export unless we strip our
selves absolutely.
In New York, No. 2 hard winter
wheat is quotable around $1.13. Yes
terday Russian wheat, that would grade
up to No. 2 winter, and weigh sixty
three pounds to the bushel, was quotable
at price that figures out about $500
c. i. f. New York. With the tariff
added, this would make it about $1.201h,
a difference narrow enough to suggest
that if American markets continue ad-
vancing, Russian wheat may flood the
seaboard.
The present situation, however, is a
shifting one, and, interesting as it is,
as possibly foreshadowing turn about
in the great eastward flow Of bread
stuffs, it would be unsafe to draw per-
manent conclusions or base any iron
clad ideas Of change upon it. The fac
tors working for return to former con-
dition are many. For one thing the
American markets, quick to respond to
supply changes, present or prospective,
are already on price bases to correspond
with acceptance Of the estimates that
there will be no exportable surplus.
Maintainapce Of high prices would work
in favor of temporary decline in domes-
tic per capita consumption, especially at
present differences of Coo to 62c between
prices ,of+wheat and corn.
t. The same. factor would operate for an
increased wheat acreage next season,
and return to normal supply condi-
tons; hence, it would be rash to assume
that the days of American predomi-
nance in the matter of the world s
wheat supply have passed. Neverthe-
less, the present situation is more inter
esting than anything that has devel-
oped for years in the field of world
commerce.
Many and far-reaching are the ques
tions following this great one, too vast
to be even touched upon here. The ne.
cessity for importation of wheat by
America, should it come, would bring
;. the reciprocity question to the front
with bound, would put new ideas and
new problems before the milling trade
would change the situation with refer
ence to the attitude of the railroads to-
wards the millers in the matter Of dis
| cr1m1nat1ng rates on export WneaJ anC
in many other ways would bear upon the
commercial problems Of the day.
That we will import wheat this veal
or in the near future is to be questioned
but the facts are that American wheat
production has not increased in a ratio
, to correspond with the increase il
American consumptive demand, hence
the tendency is gradually to lessen thu
exportable quantity, while an occasional
bad year brings us close to the poin
,, where reverse situation may develop
} So it seems that the Tribune lofty
, editorial sentiments of what it is prope
to print in the way Of advertising mat
: ter are meant for it's contemporaries AM
:, not for itself. There is an old script
=. ural injunction about the mote and tn
l beam that our neighbor seems to hav'
overlooked. ~.
r The Interesting Thing.
Sam Langum Of the Preston Time
Il