696 TliANSACTIOXS OF THE AmEIUCAN INSTITUTE. 



river, in the states of Iowa, Minnesota and Xebraska; while Cali- 

 fornia and Oregon will outstrip anj region east of the Rocky 

 mountains. This statement shows conclusively that the oidy wheat 

 region in the United States where an excess is found over the home 

 consumption is in the 'western and northwestern States, and in 

 California and Oregon. Wheat and flour now stand first in rank 

 and value, except cotton, in our export trade to Europe, and go far 

 to support our shipping and commercial interests. The following 

 statement relating to wheat and flour sent to the European markets, 

 during the past twelve j-ears, is of importance. The first striking 

 fact is that Great Britain affbi-ds nearly our entire European market — 

 amounting to over ninety per cent, of the total breadstuffs shipped 

 to Europe. This large percentage, however, constitutes only about 

 one-fourth of the entire supply of foreign wheat that is annually 

 consumed in the United Kingdom. The second fiict to be considered 

 is the fluctuation of prices in Europe, which governs, in a great meas- 

 ure, the price of breadstuffs in the United States, benetiting the farmer 

 and shipper only when there is a scarcity in foreign markets, to the 

 injury of the home consumer, who then has to pay high prices. The 

 ^/.//'(Zfact presents itself in the cost of transportation from the interior 

 of our country and shipment to Europe. Here the carrier comes in 

 for a rich reward, at the present time getting as much for freight as 

 the farmer for his labor. If winter wheat be worth §1.40 a bushel in 

 Liverpool, England, there would have to be deducted for carrying 

 from Chicago and marine freight to Europe, with other charges for 

 insurances, &c., about seventy cents, leaving only seventy cents for 

 the American farmer. When these facts are ail duly considered, it 

 shows the ruinous policy of undertaking to compete with the Conti- 

 nent of Europe in the English markets, they only paying remunera- 

 ting prices when so compelled by short crops at home. Another fact 

 deserves the attention of the American farmer, that is the yield per 

 acre of wheat is decreasing in all the States east of the Mississippi 

 river- while in England and on the Continent the yield is holding 

 its own or increasing, owing to superior management in manuring 

 and tillage. The ruinously inconstant market abroad, and the pre- 

 sent high charges for transportation, will, no doubt, shut out the 

 exporting of breadstuffs to Europe. California alone will have the 

 best chance as a competitor in the English market from this time 

 forward, owing to the trans-shipment being direct, by M'ater, to 

 Europe. 



