The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1908-09-11

After reviewing the condition OF the
leaf market the u. S. Tobacco Journal
makes the following comment upon the
buying of the new crop: If this is
correct view of the situation then any
attempt now to buy of the new crops be-
fore they are even fully in the sheds and
at figures in advance far above those
paid for last years crops must in the
end prove disastrous. Even If the new
crops promise to turn out better they
also promise larger yield and ii a
larger supply is harvested than can be
consumed the inevitable consequence
will be depression in price. To specu-
late on the assumption that because the
new crops had commanded higher fig
ure the price of the old stock must rise
in sympathy would be contrary to the
logic of the facts and the economic prin-
ciple that it is the actual demand, that
is to say, the demand commensurate
with the actual consumption which reg
ulates the price of supply. The leaf
market, therefore, has less cause to fear
the still indolent attitude of the buyers
than the generalization likely to follow
from over speculation and reckless
gambling spirit just at the time when a
steadier course and healthier senti-
ment was about to manifest itself"
*&*
The compilation by the Bureau of Sta
tistics of the figures showing in detail
the imports and exports of the calendar
year ending June 30, 1908, makes it pos
sible to present an exceedingly interest
ing exhibit of the trade in leaf tobacco
and cigars between Porto Rico and the
main land of the United States. An
interest is given to these statistics by the
fact that it was just ten years since the
United States forces invaded the island
and begun the administration of it's gov
ernment. The developments of the dec
ade have been extraordinary, and the
commercial relations of the island to the
outside world have been completely rev.
olutionized. When Porto Rico came in
to the possession of the United States,
but small part of its trade was with
this country, the bulk being with Spain.
The important figures here presented are
but little more astonishing than those
showing the exports of the island for the
corresponding wears. In 1897 the total
shipments we're valued at S11, ,155 900, of
which So, 9,465,000 was sent abroad, while
to the United States there came but
81 $4,000. Ten years later, 10 1907, ex-
ports rose to the handsome total OF
$26 100000, of which S22,070,000 was
shipped to the main land of the United
States. The total commerce OF the
island, therefore, has more than trebled
in the decade, and the share OF the
United States has risen from less than
So, 900, 900 to more than S47, 100000. The
prosperity reflected by these figures con-
stitutes significant commentary upon
the progressive ard civilizing influence
of the United States in the island. Prac
tically the entire tobacco trade OF Porto
Rico was in the hands of the Spaniards
when the island passed to the United
States; today only negligible proper
ton is carried on with European coun-
tries. In the past eight years, however,
there have been notable fluctuations in
this important branch of the islands
trade and two factors, especially, have
exercised strong influence thereon,
namely, the relation of the exports OF
cigars to the shipments of leaf and the
imports of varying quantities OF leaf pro-
duced on the main land of the United
States.