The Hastings Standard Published Daily. WEDNESDAY, NOV. 4, 1896. THE SCARCITY OF WHEAT.

Hastings Standard, Issue 163, 4 November 1896, Page 2

The Hastings Standard Published Daily.

WEDNESDAY, NOV. 4, 1896. THE SCARCITY OF WHEAT.

For the cause that lacks assistance, For the wrongs that need resistance For the future in the distance. Arid the good that we can do.

The price of wheat, according to the cable message?, has been on the up grade in all parts of the world, and is due principally to climatic conditions. Singularly enough the matter in most t of the "wheat-producing countries has been detrimental to the growth of the ! cereal, and where under normal con- ' ditions a fair yield was anticipated there is now a certainty almost of a very poor and unsatisfactory harvest. ; Throughout Australia the drought has i had a terrible effect, and in South

Australia, where harvests have been, if not abundant, more than sufficient for home consumption, there is this season such a shortage as will necesitate importation to meet local demands. The reports from Europe and America are disappointing and the yield is far below the average. Before the Australian prospects were fully known it was anticipated that the world's wheat crop would be about 140,000,000 bushels below the yield o£ last season. With the Australian crop practically a failure the position becomes very much worse. The statistical .position discloses a shortage of such a magnitude as to raise the question of whether the yield added to the reserve stock will Vie sufficient to meet the ordinary demand. The question of sufficiency is doubted; consequently the price of bread-stufis has been asc-en:ling. .Reverting to the position in Australasia, it appears that New South Wales will have sufficient of the new crop to meet local demands ; but that colony under Freetrade has been importing wheat very largely from America, and from this store \ictoria, Queensland, South Australia, and Western Australia are at present drawing their supplies. New Zealand may ease the position if the weather keeps favorable, for wo have yet to harvest our crops. Last year this colony had under wheat 21."., I ll acres, and the yield was estimated at tj,K 1:5,70S bushels. Probably the same acreage will bo cropped this vear. and if the yield is equal to that of last season our agriculturalists should h;ive a margin left for export; if so, the financial position of the farmers will be greatly improved. 1 p to the present bread has been raised in price in Sydney, Brisbane, Melbourne, and Adelaide, and the price of wheat and Hour in all the colonies. The latest quotation for flour per ton in the various coiomes is as under:— ,£ s. d. X.-w South Wales ... U 0 0 Victoria l ; i 10 0 South Australia ... ... I*2 1"> 0 Queensland ... ... ]•'! 0 0 New Zealand ... ... 10 0 U The price, of bread has not yet advanced in New Zealand, but the position is such that we may expect to see an upward move at any moment.

There is; something to he said on the score of excitement. A few days a,go expert opinion ranged on the side of extreme high prices, hut now ;i more critical examination has caused a modification of previous estimates, and London prices are expected to range bet-ween : _ K)s and IJos per quarter. Il may be that on further inquiry the position will be farther discounted, ami opinions expressed in the heat of an excitement be found very wide of the mark.