I 
66 The Indian Wheat Trade. 
obtain a return of 15 to 24 rupees per acre, taking dry and irri- 
gated land together. 
Representatives of the great Indian wlieat-buying firms 
whom I have consulted, including Messrs. Ralli Brothers, Messrs. 
Tod, Durant & Co. and Messrs. Kelly & Co., are unanimous in 
expressing the opinion that the ryots would continue to grow wheat 
at prices somewhat lower than they are now receiving. Judging 
from the small increase in the area of the crop, however, since the 
" normal area " was estimated, they are not very much in love with 
the wheat-growing industry, and the inference is that any con- 
siderable decline in the rupee price would lead to a diminution of 
production. It is more than a little remarkable to see the area of 
the crop greatly reduced in provinces so well served by railways 
as the North-Western Provinces and the Punjab, the two 
greatest wheat-producing districts of India. 
The increased exportation of wheat from India has now, I trust, 
been sufficiently explained. But how is it that , shippers have 
been able to give enhanced jirices for Indian wheat in order to sell 
it in England at depreciated prices ? The mean price for India 
worked out on a previous page from the official figures for 1881 
is equivalent to 14 rupees per quarter, while that for 1886 is 
equivalent to 14^ rupees per quarter. These prices, representing 
many parts of the interior, are lower than shippers have had to 
pay at the ports ; but if they are joroportionate to port prices, 
the question remains the same. An official return gives the 
average price in Calcutta in 1881 at 2rs. 10«. 9^j. per maund, or 
16rs. 2a. Qp. per quarter of 492 lbs. The corresponding price for 
1886 is not given in the latest issue of the same return; but it 
was certainly at least as high. How is it that shippers could give 
more in 188G, when the average price in England was 45s. Ad., 
than they gave in 1881, when the average price in England was 
31s. ? Or even if, through the reduction of inland rail rates, they 
paid no more in 188C at the ports than in 1881, how could they 
give as much ? There is here a reduction of l is. 4f?. a quarter to 
make good, independently of any extra cost in rupee price in 
India. 
Freights have been greatly reduced, and in order to ascer- 
tain the reduction I ap2)lied to Messrs. Angier Brothers, of 
London, publishers of a freight list, to give me the average 
steamer freights for certain years, a request with which they 
courteously complied. They are, I believe, the only persons 
who could have supplied the information, which is given in the 
table opposite. 
The figures showing the freight per quarter are conversions ; 
the others arc those of Messrs. Angier. 'V\\q reductions since 
1880 are 5s. a quarter from Bombay and Kurrachee, and 7s. 
