448 FARMERS' INSTITUTES. 



It appears evident from the above statistics, that the production of wheat 

 is rapidly increasing over the demand, the legitimate result of which is lower 

 prices and a stagnant market. 



When we take into consideration the vast, undeveloped wheat area of the 

 United States, and its rapid settlement by farmers, it is evident that the 

 wheat production upon these cheap and fertile lands will keep up an average 

 increase of surplus for several years to come. Add to this the increasing 

 production of India and South America, especially the Argentine Republic, 

 where it is said there is an immense area suited to wheat culture which 

 European immigration is rapidly developing, and the outlook for higher 

 prices is not very bright. The total area in crops in the Argentine Repub- 

 lic in 1887 was estimated at 5,262,600 acres, and an increase of 23 per cent 

 in three years. Two million one hundred and twelve thousand six hun- 

 dred acres were in wheat, producing about 200,000,000 bushels, of which half 

 could be exported. Should imigration continue, wheat culture will be 

 rapidly extended, and much the largest portion of the product be exported. 



The requirements of European demand can be better indicated by a state- 

 ment of the average production and consumption, for a period of years in con- 

 nection with the latest facts of production and supply. Between 1874 and 1881 

 the average production of Europe was 1,144,000,000 bushels; the consumption 

 in food and seed 1,312,000,000 bushels. For the next five years the average 

 product was 50,000,000 bushels per year higher. Several years of 

 unusually low yield in Western Europe caused American exportation to 

 run abnormally high, and that extraordinary demand led to an increase of 

 millions of acres of wheat in this country, and a larger area in Russia, India, 

 Australia and South America. A review of these figures shows the fact 

 that nearly all the wheat raising counties of the world aim to produce a full 

 supply, and usually succeed. 



And that North America, South America, Asia, Africa and Australasia 

 produce generally a surplus, while Europe produces three and one-half of 

 the four bushels required per capita. 



It shows that if Great Britain were set off from Europe, the continent 

 would supply itself usually, or require only a few million bushels, after its 

 interior distribution was affected. 



In other words the world is trying to deluge Liverpool with wheat, and 

 finds elsewhere no markets that are worth striving for. This strife to 

 supply England with wheat has reduced the price to a lower point than has 

 been reached in 125 years, and will probably be recorded in history as the 

 era of cheap bread. This I think is a sufficient answer to the question : 

 Why is the price of wheat so low? The question: How can be make it 

 profitable to raise? is answered in three words; raise less wheat. 



Mr. Strong: Can we profitably harrow wheat or cultivate wheat with a 

 horse hoe ? 



Dr. Beal : We have satisfactorily harrowed wheat at the College, but never 

 cultivated it. 



Mr. : English practice is eminently in favor of it for wheat, as well 



as for other crops. 



Mr. Sharp : I know that, but that does not prove it to be good for us. 

 They harvest in August, and have a long season like our June weather, which 

 we have not. 



