76 THE VALUE OF A TRADE JOURNAL'S DATA. 



shows that instead of being derived, as it all sliould be, from available official sources the 

 data used by the Price Current is raked from the gutter, takeu from the scrap-heap or selected 

 from the waste-basket. 



Reading the Price Current in the bright light thrown upon it by this partial analysis 

 of its statements and nieihods, and having such knowledge of tlie character of its so-called 

 •data as we thus obtain, tlie question at once presents itself: 



What does this sheet now desire to prove? By whom and in what interest is it 

 retained, and what is the amount of the retainer? Or is its mendacity and utter disre- 

 gard of connnou honesty, in its dealings with its jxitrons, the logical result of infinite 

 capacity foi' error and lack of ability? 



Of what value are its deductions when the entire basis of the fabric is a matter of 

 reckless guess work and fabrication? 



EUROPEAN REQUIREMENTS AND PROBABLE SUPPLIES OF RYE 

 AND WHEAT DURING THE 1891-92 CEREAL YEAR. 



Requirements for bread 2,400,000,000 bushels 



Itequiremeuts for seed 300,000,000 " 



Total requirements 2,700,000,000 " 



Probable cut-turn of European fields ..1,800,000,000 bushels 



Si'ed required— a constant quantity 300 000,000 " 



Seven and one-half montlis' food supply 1,500 000,000 " 1,800,000 000 " 



Deficit equal to 4J months' food supply... 900,000,000 " 

 America. India and all other countries can sup- 

 ply at outside 280,000,000 " 



Ultimate European deficit equal to three 



mouths' needs 620,000,000 " 



Potatoes and other substitutions may— possibly— be equal to half of one month's 

 consumption, but tliis is not probable, as the potatoes are always consumed in addition to 

 the wheat and rye; but admitting that such substitutions will equal half a mouth's con- 

 sumption, how are me other , two and a half months to be covered? 



-i»e^- 



In Central Russia tliere are IS provinces which the KiefT correspondent of (he Liv- 

 erpool Corn IVade News, for whose reliability the editor vouches in the strongest terms, 

 after careful personal inspection, says have not harvested as much grain as was sown. 

 These 18 provinces contain 39,000,000 inhabitants, and are not only the most populous 

 but the most productive of the whole Empire, and largely constitute its granary. If 

 these provinces have not grown the seed sown liow are they to be fed? The remainder 

 of the Umpire does not ■produce a xvrplus equal to the food requirements of 39,000,000 

 people. 



With Europe producing but seven and a half months' food and the outside world 

 able to furnish but one and a hull' months' supply, would it not be good business policy 

 for American farmers to 



"HOLD THE WHEAT?" 



