1904.] Twenty Years' Wheat Imports. 539 



which Europe is willing to pay is a very important factor in 

 regulating the external trade of India, and that as much weight 

 should be given to the values current as to the amount of the 

 crop in forming any anticipations of the probable exports from 

 that country. 



Considering now the British cereal year, it may be remarked 

 that 1903-4 is the first occasion on which India, with over 

 23 million cwt., has occupied the foremost place among the 

 countries supplying us with wheat in grain, although it has not 

 yet exceeded the amount of wheat and flour together from the 

 United States. 



Argentina has, during the past five years, sent us more wheat 

 on the average than any other country except the United States. 

 But it is only in comparatively recent years that it has come to 

 the front, and the extension of its wheat area has been more rapid 

 than in any of the other important territories contributing to our 

 supplies of breadstuff's, while it is also probably capable of still 

 further^mcreasing this area more rapidly than other countries. 

 Statistics for early years are mostly wanting, but official enquiries 

 return the wheat area at 271,000 acres in 1875, 601,000 in 1883, 

 2,014,000 in 1888, 5,063,000 in 1895, and 8,348,000 in 1 900-1, while 

 the latest returns — for 1903-4 — shew 9,271,000 acres. The pro- 

 gress of the export trade has been equally rapid. It is only 

 from 1 891-2 that the imports of wheat from Argentina can be 

 given for our cereal year, they having previously been grouped 

 with " other countries " in the monthly trade returns. In that 

 year, however, we received 2,692,000 cwt. Imports rapidly 

 increased until they reached 14,106,000 cwt. in 1894-5, tnen 

 dwindled and rose again to a maximum of 18,116,000 in 

 1 899- 1 900; and, after a further fall to under 5,000,000 cwt. 

 in 1 90 1 -2, recovered to 17,490,000 cwt. in 1903-4. 



Two other sources of wheat, upon occasion, rise to considerable 

 importance. These are Roumania and Australasia. Both are 

 subject to climatic conditions that render them very unreliable 

 sources of supply. Our imports from the former frequently 

 follow the movements of the Russian trade, though there are 

 certain notable exceptions. The largest quantities received from 

 Roumania have been 4,301,000 cwt. in 1 890-1 and 4,536,000 in 

 1896-7 ; on the other hand, not a single cwt. was received thence 



