"DOLLAR" WHEAT.

Press, Volume LXIII, Issue 12933, 12 October 1907, Page 11

"DOLLAR" WHEAT.

In the present state of the wheat market thq following from the "Baltimore American ,, is not without interest: —"Again there is a revival in the wbMt-growing areas of the West and North-west of the refrain of 'dollar wheat to stay.' The price of wheat has touched the dollar mark at intervals during the past quarter of a century, hut tho price of the bread grain has fluctuated persistently in harmony with the actual volumes of the world's annual wheat yields. In years when the D&kotahs and Minnesota join the more southerly wheat sone of the United Stites in growing the cereal up {a the high record limits, there has invariably followed a drop below the dollar-price standard. And whon Russia, Germany, France, and Argentina produce surpluses that are added to a large export surplus in the United States, there has been n sagging of the price that has been in something like proportionate ratio to tho increase of yield. In other words, the price oft wheat, like the price of other agricultural products, has been regulated by the general law of demand and supply. "The movement, which lias been inaugurated in North Dakota by an nesoriation known , ns the American Society of Equity, contemplates keeping tho price of wheel "P to the dollar average, regardless of the size of the aggregate world crop. Wheat-growers are bejng urged to watch tho weekly reports of the" movements of the grains to fche market centres, and to hold back their shipments when there are signs of a marked increase in tho visitye supply. It is estimated that the millers of this country alone grind 30,000,000 bushels of wheat monthly, and tie theory of the association that is undertaking to regulate the price , js that rf the monthly ■■"Pjneirte can he kept below the 50,000£H)0. bushels demand of the millers, there must be a gradual advance U'4tead of a sudden slump in the price paid the grower. "The test of the plan will oome with the next record-breaking crop. It would undoubtedly add greatly to the even Uuure »hd general prosperity of the farming industries if there could be something lik* a fair and fixed stan. dird of prices for agricultural crops. No manufacturer of shoes or of steel r ?'r i cou ! d do , \> v™"**u ™"** h«ing the prob* Ability of sudden fluctuation* in the price of his product that would reduce

the market value by one-third or onejonrth. It b impoisiblo to foretell, however, at the opening of any springtime whether the world's aggregate or any staple crop will bo long or short. And whether it proves to be long or short the price is practically certain to fluctuate in accord with tho actual condition of the supply as it bears relatiou to the progressive consumption."