be sai-rideied under the hammer, with forced B 

 and liquidation at priors in which she has no voice the 

 full pound of flesh exaoted, and Argentina to pay 

 again the penally of her helplessness. 



Apart from the millions of dollars which is yearly 

 lost to this country by the pernicious throwing away of 

 Iher crops, the injury and depreciation thereby caused to 

 the interests of other great producing: countries is incal- 

 culable. Argentina stands alone in her utter incapacity 

 to market her crops on sound business principles, and it 

 is well for the commercial world generally that other coun- 

 tries are able Jo handle their surplus products with some 

 regard to the laws of supply and demand, otherwise the 

 disequilibrium, which is annually produced by Argen- 

 tina's pressure to sell, would result in chaos. 



Canada for instance, the country which joins issue 

 with Argentina for the claim of being "The World's 

 <Great Breadfield", is equipped with Stores throughout 

 lier wheat belt, and has a storage capacity in 1907 for not 

 far short of 2,000,000 tons in regular warehouses, that is 

 to say, in warehouses under the control of Public Compa- 

 nies, and which are recognised by the State and the vari- 

 ous commercial bodies, and whose Cereal Warrants are 

 held to be first class security, recognised and negotiated 

 as such by the most conservative financial institutions. 



Canada thus equipped with such a formidable line 

 of defence, holds her wheat at the actual value, and she 

 is in a position to wait until her weaker competitor, Ar- 

 gentina, has "shot her bolt". 



Adam Smith discussing the fundamental principles 

 of economy in his "Wealth of Nations" lays down, that 

 -supposing that ten bags of wheat are taken to the market, 

 Imt there is only a demand for nine, the price of the 

 forced sale of the tenth bag makes the market value of 

 the wheat: this is illustrative of Argentina's case, she 

 forces her crops on the consuming markets greatly in ex- 

 cess of their immediate requirements, and thus depre- 

 ciates the value of the whole. 



With the total World's Wheat Crop of 1907 about 6 

 millions tons below average, and consuming countries 

 looking with anxiety, not to say alarm, for supplies to 

 over their requirements till September next when the 

 new crop of North America may be expected to afford 

 some relief to the situation, it is obvious that whether 

 Argentina has a surplus of 3 million tons or 4 millions, 

 does not materially affect the international situation, nor 

 afford an excuse for selling the crop $1.00 per quintal 

 under its value. 



Again the Linseed crop is sufficient to meet the 



