The chronicle=news., 1915-01-07
The Cost Of War
From the Denver News

uu0 OUSl VI WQ1
| From the Denver News.
Wheat for May delivery sold in
Chicago Tuesday at $137 bushel.
the highest price on record for the
grain I'M this country. The nearest
approach to the price was $1.35 IA
on May 20, 1909, that being largely
a Spectators market, with high
prices resulting from a great cor
ner in wheat engineered by James
A. Patten. From that high mark the
before the closing of the May deliv-
cries. four days later.
But the prices reached Tuesday
are not due to any corner" in the
wheat market. They are the result
Of the war in Europe, and it was
European buying chiefly that forced
the market up to the record level.
With most of the producing popula-
tion of the great nations of Europe
engaged in destruction instead of
production at this time there is quite
naturally an excellent prospect of
shortage in food products all over
the world
The United States exported $780,
900 bushels of wheat in November,
1913. In November of this year the
exports were lS.1S1 ,GO2 bushels.
rracticallyall the increase went to
Europe to supply the extraordinary
demand caused by the war. The total
exports of what from this country
for 1914 up to the end of November
were l4i.3I 300 bushels. as com
pared with 93.63G.0D0 bushels for
the corresponding months of 1913.
In addition there was exported 10,-
! $50. SIS barrels of flour in the first
II months of 1914.
The. wheat crop of the United
States for 1914 amounted to about
S92, 600. 900. an increase OF about
30,uo0,00O bushels over the prev
ious year. Up to the end of Novem-
Der more than 5O,0OO,o00 bushels
of this increase had been taken from
lne country i'll increased exports.
curing December there were marked
increases in the exports of both
wheat and flour. so that at. this time
more than one-halr OF the increased
wheat production of this country for
1914 has been shipped to Europe on
account Of the war.
There is apparently little prospect
that the price OF wheat will recede.
Russia. the great grain exporting
country of Europe, will raise no
grain for export this year France.
which raises barely enough for her
own population in times of peace,
will need perhaps 3O.000,0O BUSH
els of wheat before the end of this
year Germany. which imports ap-
proximately 67.00O.0O0 bushels of
wheat in times of peace, will need
perhaps three times that amount this
year, if only she can find somebody
to deliver it to her. Great Britain,
which annually imports about 215,-
900 900 bushels of wheat, will be
aalc to find use for perhaps 10000
900 bushels additional this year.
In times of peace Russia has sup
piled other European countries with
from 100.0OO,0pO to 0.000.Oo0
rushes OF wheat annually. Austria
mas supplied about 100000 bushels
md Servia has furnished from 2.000,-
q ODO to 900. 900 bushels.
Apparently Roumania and Bulga-
ria will be about the only European
states able to furnish any wheat this
year to the nations at war. Both
these nations, being in constant dam
ger OF becoming involved in the con-
flict, are maintaining larger armies
than they maintain in times of
peace in Europe. and are restricting z
their means of production In that
way. These countries under ordi
; nary conditions export from 10000
5000 to 100000 bushels of wheat
annually, but the chances are that
they will not he able to maintain
that record this year. ...-
There remain Argentina. Austria
liza. British India. Canada, Chill and
the United States to supply the ex-
traordinary demand for wheat caused
by the war. These countries usual