The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1915-01-23
Why WHEAT IS
HIGHER IN PRICE

ubuNtu6uV Nv ulSI
Now that wheat has advanced
greatly and there is talk OF reducing
the size OF the loaf OF bread or of
advancing its cost, number of the
friends OF the people" in and out of
Congress are greatly exercised, and
are investigating or calling for the
investigation OF the report that spec
ulators are arbitrarily advancing the
price OF the stan OF life. Apparently
q large number OF lawmakers have
not been reading the papers care.
fully, or they would have discovered
by now that q war is raging in Eu.
rope; that that continent needs wheat
badly, and that the worlds produc
ton Of the premier cereal in 1914 was
seriously short OF that of preceding
years. They have learned that the
United States had a record crop in
1914. and they apparently cannot I'M
derstand that the price of wheat is
being affected by some other cause
than that OF one country's large sur
plus. The facts of the case, which
these statesmen could have discov
cred with very little, II any, trouble,
are that the worlds crop OF wheat
In 1914 was about 100000, 900 bushels
short OF the yield OF 1913 that the
shipments OF wheat from Russia and
the lower Danube have been cut of
by the closing OF the Dardanelles by
the Turks going to war: that much
wheat has been lost by hostilities In
Europe and seeding has been inter
fered with; that Australia, instead OF
selling wheat, is buying 1t from the
United States, owing to crop fall
ure; that Canada's crop in 1914 was
70, 200, 900 bushels short OF the year
before; that the interruption to or
high prices OF ocean freights have
made It impossible for Argentina to
ship as freely as It might, and that
finally the United States and Canada
have had to shoulder the tas6 OF sup
plying European shortages.
Prices, 1t Is true, have advanced
since the war began. The only won
der Is that they have not gone stii'
higher. It might be worth noting
that while May delivery at Chicago
recently, sold higher than since 1898
cash wheat has not gone up so great
| ly. In fact, cash wheat has not yet
reached the level of $50 at chi
cago, that was touched In June Of
| 1909. and Is still much below the
81 IS price touched in May, 1898, at
the time OF the Letter deal. Viewed
from another angle. the price OF
wheat here seems to be on worio
| basis, The closing day OF 1918 sa"
the price of wheat at New York 81
and 80 cents per bushel higher than
On January 2 preceding. and the price
Of American wheat In England ad
yanced 3S cents during the same pc
| riod, or course the price may have
advanced more In some countries II
the zone of hostilities, but the price
NJ wheat in the Black sea region If
said by authorities abroad to be only
one half what 1t Is In western Eur
one because Of the impossibility Of
getting wheat out of that region
There are said to be sixty vessels
,oaded with wheat in Russian ports
As illustrative Of the very grea
shifting of wheat trade currents, II
Ia we'll to note that shipments OF
wheat from countries of origin To-
m. cereal year to late December az
grexated only 1ss,Oo0,OOo bushels al
against 277,OOO, 900 bushels In th'
same period year ago, decrease o
20 600 900 bushels. 1t is true Unite'
| States and Canadian shipments wer'
80 900. 900 bushels larger, but Russian
sbipments we're only 672,oOo bushels
against 100000 year ago, Balkan
shipments almost disappeared iron
the list and Argentine and Australian
shipments were only one fourth u
one sixth those of last year 1t Is
of course, also true that there
speculation in wheat, but no one wh
look, the field of wheat productio
over will believe that speculation
and nv itself could have put price
up as they have gone The woric
wide war is, in fact, the main CON
pelling cause Of the 40 per cent az
vance in wheat prices, but We douo
whether sane presentation OF III
facts will have much chance II III
| and DINER