Year: 1877

of farmers on account Of the present
downward tendency in the price Of
wheat. The crop throughout the
country has been large one and some
have entertained that fear that the
production was SO great as to make il
unremunerativo to the producer. Such
fears, however, are entirely groundiess
The farmers prospects were never
brighter than they are at this moment
1t is true wheat is low. aud may posi-
bly, 60 still lower, but that it will re.
main low is not probable nor indeed
possible. In the FIRST place, there is
very little old wheat in the country.
As to wheat in sight, there was in the
month Of August last year. The mil
lers all over the country ars short OF
old wheat. The new crop must first
supply this deficiency. This will now
require about 100000 bushels, but
as very little Of the new wheat has yet
been started to market, by dke time it
is marketed the old wheat will be still
further diminished and the draft upon
the new crop will be still greater.
The sales,. too, for future delivery,
have been enormously in excess Of the
arrivals, and the grain must be had by
spectators to fill futaer contracts


During the first two weeks in August
the receipts of wheat in New York
we're about 100000 bushels, and the
sales during the same time we're over
1000, 900 bushels. For corresponding
periods in 1876, 1875 and 1874 the
amount Of wheat on hand in New
York and Brooklyn was more than
double that on hand in those places
now, indeed, in 1875 and 1876 it was
qnadruple more. 1t will thus be seen
that the condition of the home market
IS in no manner discouraging to the
producer, but that On the contrary, the
prospect for large home demand was
seldom ever so good.


But the prospect Of an increased
foreign demand was never better. 1t
is now very definitely settled that the
Russian Turkish war will be Of long
duration. This will require soldiers,
and they must in due proportion be
drawn from the wheat fields Of Russia.
These soldiers must be fed, and the
people Of the countries which they
represent must be fed. In fact. all
Europe must be fed. Then comes the
interesting question Where is the
wheat necessary to feed Europe to
come from? In ordinary times, of
course. a large proportion Of it comes
from foreign wheat felds, but the for.
eign crop is almost everywhere par.
tial failure-that is, it is under the av.
erage, and where it is not circumstan.
ces will conspire to prevent exporta-
ton The crop in Russia is not only
in this condition, but the home demand
and the prospect Of still smaller crop
during the continuance of the was,
will most likely have a tendency to
limit the wish to export Ifthis, how
ever, is not the result. circumstances
will prevent the expectation to France,
which has always been large purchas-
er of Russian wheat. This is assured
BY the fact that the Danube and Black
Sea are closed to navigation. In
Hungary the crop is small and the
grain very badly rusted. Australia,
from present appearances. will have
little to export. The crop in the
south of France is s.small and Of poor
qualify Great Britain, Holland, Bel


GUM, France, Switzerland and Ger
many it is estimated. will need to i'm
port l5O, ,OGO, 900 bushels. Now then,
let the man who is mourning over the
prospect Of low prices, please inform
us where this hundred aud fifty mill
IONS of bushels Of wheat are to come
from. Independent of Russia, the
wheat producing countries have never
exported this amount of wheat. 1t
looks as if the United States could sell
at considerably higher price than is
usual. While our wheat crop is gen.
orally large, it must be remembered
that there is only about half crop
in California. and that makes very
large hole in the aggregate. Every
bushel of wheat in this country will
bring a good price, and those who arc
mourning over the thought that the
contrary will be the case are simply
borrowing trouble. The millers Of the
West are now paying from fifteen to
twenty cents more for wheat than it
will bring in Chicago, thus proving
our statement that they have no wheat
on hand.-CWestern Rural.


Gen. LeDuc. Commissioner of Agri.