The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-03-08
BY Great Britain and Allies and
United States is Especial
Iy Interested as Result.

LONDON, March 8.-Great Brit
ain and its allies have gone into the
wheat business on very extensive
scale, the governments themselves
buying vast stocks of wheat-200, 600
tons in Australia at a cost of $16,-
100000; 100000 tons in Argentine
ut cost of $20,O0O.000; and the
whole remaining crop Of Rumania at
$50, 000. 000-in all about SS6.000,-
600, probably the largest bulk ex-
penditure for wheat ever made.
This Is a new departure-govern-
ments buying up the wheat supply.
II has a special interest to the Unit
cd States for two reasons. namely:
First: The rate of American ex-
change. which went SO strongly
against England last fall. is depend
ent on keeping down imports of
American wheat, cotton and other
products. In this way the balance OF
trade will not be SO heavily against
England as 1t 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 high
est officials of the government told
/ the Associated Press. when the rate
OF exchange crisis occurred last fall.
that one of the surest ways of steady
ing the exchange was for England to
stop buying wheat in the United
States and buy 1t instead in Austral-
ia, Canada and elsewhere. He init
mated strongly. too. that this would
be done; and apparently Ii has been
done, although the corn exchange Is
\ flooding the London press with quer-
/ les as to why these government pur-
chases are made.
Second: Irrespective Of the e&-
change rate. the government pur-
chase of wheat discloses the tremen-
dous weapon which the Quadruple AL
lies possess In the control of that fun
damental food product. AS 1t stands
now, the countries forming the quad
ripple alliance have an enormous
stock OF wheat. about one-half OF the
total worlds crop of 1915; the neu-
trail countries come next with about
half rs much as the Qundruple Allies
possess: and the Central Powers
come last with comparatively In
significant stock of the great food
staple. A rough summary showing
the wheat quarter holdings OF the
various groups is.as follows:
Quadruple Allies 80. .323, ASP. 900
Neutral countries ...-. 9.18l,000
Central Powers 1890. 56,799.000
That Is. the Quadruple Allies have
the bulk OF the worlds wheat supply
and are buying up a good deal OF the
reutral's share. while the Central
Powers have about one-sixth
the supply OF their opponent with lit
tie chance Of buying from neutrals or
getting It delivered II bought.
The details OF wheat holdings by
the two war groups and by the neu-
trails, can be approximately figured
out from reports obtained through
the corn exchange. While not Off
clal. the figures are published in the
leading organs OF the exchange. rs
compiled from all available sources,
including official. Re-arranged nc
cordlng to groups in the present war
for this is struggle between war
croups-the stocks of wheat, in quar-
ters, is as follows.
Quadruplc Allies: France; 3d.
100000; Algeria and Tunlsia. 5000
900; United Kingdom, 9,1O0, 600:
India 47.922 900; Canada. 42,O30,-
900: Egypt and the Cape, $500. 600;
Australia, 20, 600, 100000; New Zeals
and. 100000; Italy, 21,350.000;
Russia. 1873, 100000; Japan. 1885,
900. Total, 323, $4,000 quarters.
Neutrals: Spain, 17,000,000; Por-
Itugal, 100000: Rumania, 1885,
600: Greece 600. 900: Holland, ILL.,
600: Switzerland. ass. 100000. To.
tai 1S9, 1871 900 quarters.
Central Powers: Germany. co.
000. 900: Austria, 7.500.000i Hun
gary, 1899, 900: Crotia and Slayon-
ia, i, 100000; Bosnia and Herzegovina.