Arizona sentinel Yuma southwest., 1916-03-09
Associated Press)

on a very eXtenS1Ve scale, the
 governments themselves buy ing vast stocks of wheat
 100000 tons in Australia, at a
 cost of S16,OOO,OO0; 25O,OOO
 tons in Argentine at a cost of
 $2O,OOO,OOO and the whole re-
 maining crop of Rumania at
 $5O,OOO,OOO = in all about
 S86, 100000, probably the lgreatest bulk expenditure for wheat ever made.
 This is a new departure
 governments buying up the
 wheat supply.
 It has a special interest to the
 United States for two reasons, viz:
 First: The rate of American ex.
 change, which went so strongly against England last fall, is dependent on keep ing down imports of American wheat, cotton and other products. In this way the balance of trade will not be so heavily against England as it was last fall; the drain of gold to meet that balance will not be so heavy, and the exchange rate will remain steady. One of the highest officials of the gov ernment told the Associated Press, 'when the rate of exchange critis oc cured last fall, that one of the surest ways of steadying the exchange was for England to stop buying wheat in the United States and buy it instead in Australia, Canada and elsewhere He intimated strongly, too, that this been done, although the Corn Fix l change is flooding the London press with queries as to why these govern l nent purchases are made
 Second: Irrespective of the exs | change rate, the government purchase | of wheat discloses the tremendous | weapon which the Quadruple Allies possess in the control of that funda- mental food product. AS it stands | now, the countries forming the Quad ruple Alliance have an enormous stock of wheat, about one-half of the total worlds crop of 1915; the neutral coun- tries come next, with about half as much as the Quadruple Allies possess; md the Central Powers come last with a comparatively insignificant stock of the great food staple. A rough sum- mary showing the wheat holdings of he various groups is as follows: Allies. .....323, 3,452, ,OOO quarters.
 Neutrals, ...189, ,181,OOO quarters.
 Teutons, .... 56,739,OOO quarters.
 That is, the Quadruple Allies have the bulk of the worlds wheat supply, and are buying up good deal of the leutrals share, while the Central Powers have about one-sixth the sup ply of their opponents with little or no chance of buying from neutrals or get ing it delivered if bought.
 The details of wheat holdings by the two war groups, and by the neu- Jrals, can be approximately figured out from reports obtained through the Corn Exchange While not official, he figures are published in the lead ing organs of the exchange, as com piled from all available sources, in- cluding official. Re-arranged accord ing to groups in the present war-for this is a struggle between war groups the stocks of wheat, in quarters, is as tollows:
 Quadruple Allies: France, 32,00O,- 900; Algeria and Tunisia, 5,7OO,OOO; United Kingdom, 9,1OO,OOO; India, 47,- )22,0OO; Canada, 42,O3O,OOO Egypt and he Cape, 5,2OO,OOO; Australia, 23,2OO,- poo; New Zealand, 100000; Italy, 21,35O,OOO; Russia, 133,OOO,OOO; Japan, 2,95, 900; total, 223, ,452,OOO quarters.
 Neutrals: Spain, 100000; Portu- gal, S00,000; Rumania, 11,25O,O00; | Greece, 6O0,OO0; Holland, 711,0OO; Switzerland, 4S5,O00; Sweden, 1,OOO,- 900; Denmark, 995,OOO; United States, 126, ,440,0OO; Mexico, 100000; Argen- ina, 24,OOO,OO0; Chile, 2,OOO,OOO; Uru- quay, 100000; Peru, 6OO,OOO; Persia, 1,70O,OOO; total 1S9, ,181 ,OOO quarters.
 Central Powers: Germany, 2O,O0O,- 900; Autsria, 7,5OO,OOO Hungary, 1S,- 959,000; Crotia and S,avonia, 1,5OO,- 900; Bosnia and Herzegovina, 5OO,0OO; Bulgaria, 5,7S5,OOO; Serbia, 100000; Belgium, 100000; total, 56,739,OOO quarters.
 There are, of course, other factors operating in this war game which af feet the foregoing stocks of the vari- 0us countries. Russia's vast stock is practically sealed up, and while it can