The Bridgeport evening farmer., 1916-03-08
AND ALLIES ENTERING
 WHEAT BUSINESS ON IMMENSE
 SCALE TO OFFSET GOLD DRAINS.
United States Trade To Be Lessened Plan of Entente
 Officials Plan to Steady Exchange For Britain.

London, March s-Great Britain and her allies have gone into the wheat business on a very extensive scale, the governments themselves buying vast stocks of wheat-2OO, 900 tons in Australia at a cost of $16, 6,OOO,- 900; 250,0O0 tons in Argentine at cost of $20,60O,000 and the whole re- maining crop of Rumania at $5O, O,OoO,- O00-in all about $86,O0O,O0O, prob ably the largest bulk expenditure for wheat ever made.
 This is a new departure-govern- ments buying up the wheat supply. It has a special interest to the United States for two reasons, namely:
 First: The rate of American ex- change, which went so strongly against England last fall, is depen- dent 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 it was last fall; the drain of gold. to meet that balance will n ot be SC 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 faII that one of the surest ways of steady ing the exchange was for England to stop buying wheat in the United States and buy it instead in Austra- lia, Canada and elsewhere. He inti- mated strongly, too,s that this would be done; and apparently it has been done, although the Corn Exchange is flooding the London press with que ries as to why these government pur- chases are made.
 Second: Irrespective of the ex- 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 Quaddrup1e Alliance have an enor- nous stock of wheat, about one-ha1f of the total worlds crop of 1915; the neutral countries come next with about one- half of the total worlds crop of 1915; the neutral countries come next with about half as much as the Quadruple Allies possess; and the Central Powers come last with a comp paratively insi gnificant stock of the great food staple A rough summary showing the wheat holdings of the various groups Is fol1ows: Quadruple Allies 323,452,o00 quarters Neutral countries 189, ,1S1, ,000 quarters Central Powers 56,739,000 quarters
 That is, the Quadruple Allies have the bulk of the worlds wheat sup ply, and are buying up a good deal of the neutraIs' share, while the Central Powers have about one-sixth the sup ply of their opponent with little chance of buying from neutfa1s or getting it delivered if bought.
 The details of wheat holdings by the war groups, and by the neutrals, can be approximately figured cut frern reports obtained through the Corn Exchange. While not official the fig ures are published in the leading or gans of the Exchange, as compiled from all availaable sources, including official. Re-arranged according to groups in the present war-for this struggle the stocks of wheat, in quarters, is as follows;
 Quadrup1e Allies: France s2,O60,- 900; Algeria and Tunisio 5,7o0,o00; United Kingdom, 9,10O,0oO; India, AT. .s22, ,000; Canada, Az, 2,O30, ,9O0j Egypt and the Cape, 5,20O,OO0; Austra- ia, 3,2o0o,000; New Zealand 1,OOO,- 0oei Italy, 21.s5o.oo0j Russia 1884, GOO, 900; Japan, 2,950,0o0. Total 232,452, ,000 quarters.
 Neutra1ss Spain, 17,eoe,e00s Por- tugal, 800 .0oe; Rumania, '11,25,ooo;