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New Zealand Times, Volume XXIX, Issue 4251, 4 November 1874, Page 2

In a recent issue we reviewed the harvest prospects of the United States, and pointed out that should tho Californian agriculturalists persist in their refusal to sell wheat at current prices, the needing marketsof Europewould besowellsupplied from other sources that the six hundred thousand tons of surplus which California has to export would not be seriously missed. We find an article in the Mark Lane Express, translated from the Journal des Debats, which gives a detail of the harvests in different parts of Europe, according to tho information collected at the International Corn Market at -Vienna.- - Tho following is 1 the article in question;— In Austro-Hungary the surplus of wheat derived from tlie harvesting, relatively to tho average produce (12,300,000 hectolitres in Austria, and 29,520,000 hectolitres in Hungary), is 3,075,000 hectolitres, 2,152,500 hectolitres being for Hungary and 022,500 for tho other parts of tjio empire. Tlie exports of flour in consequence can be 600,000 metrical quintals. The yield of rye does not show any increase in comparison with tho average, which is about forty million quintals. The exports can therefore he 1,500,000 quintals.• The yield In barley lias been an average one ; the exports may therefore he 1,500,000 quintals. The deficiency in oats in Austria is about 1,230,000 hectolitres, hut is covered by tlie excess derived from Hungary, The results of tlie maize harvest vary from one place to another. It is thought that the total produce will exceed the average (25,830,000 hectolitres, of which 22,140,000 are from Hungary.) In Prussia tho yield of rye surpasses by 12 per cent, that of last year—about four million and a half tons: wheat, about 2,450,000 tons; barley, about 2.070.000 tons, but this Is not sufficient for the breweries of tho country; oats, 2,200,000 tons, being one-third below the average. Upon tlie banks of the Rhino the yield has not been abundant, but the quality is excellent; rye, 80 to 85 per cent.; wheat, 115 per cent. ; oats, 60 per cent. ; barley, 60 per cent. ; colza, CO to 05 per cent. In Southern Bavaria the yield has boon good, and 3.930.000 quintals of flour will ho disposable for export. The surplus of the cereals for breadstuffs will he 705,000 quintals. The result of tho yield of barley has been good likewise. In Upper Bavaria there has been an average harvest. In Upper, Lower Bavaria, and Franconia tho quantity of wheat is upon an average and the quality good. Tlie quantity of barley is satisfactory, hut tho quality varies. The yield of oats presents in general an average. There is hope, however, that some exports may he made. The stocks of Russian rye are considerable. In Hanover the yield of wheat promises to be very good—lo per cent, above tho average; rye, 15 per cent, below the average. Tho oats are excellent, but short In tlie straw. Potatoes promise well. In tho Grand Duchy of Baden tho yield of rye will bo small; tlie oats and barley give also; unsatisfactory results. In Wurtemhurg tlie yield of wheat is 20 per cent, above tlie average ; tlie produce of ryo is 017,500 quintals. The quantity of barley harvested lias been 812,500 quintals. There will be 502,000 quintals of breadstuffs disposable. Tho total produce of cereals fit for milling purposes is about live million quintals (that is, 10 per cent, above tho average), of which about 4,500,000 quintals will ho disposable for consumption. In Mecklenburg the yield of wheat has been abundant, and considerable quantities will he available for export. The quality of tho ryo is good, but the quantity might be greater. The barleys are very fine. Tlie oats are magnificent in the good soils, but below tlie average in tlie poor. There, are fears of a had potato crop. In Schleswig-Holstein tho wheats and the ryes are in great quantity ami excellent quality. The barleys and the oats promise especially well. The oleaginous grains have produced largely. In Russia tho quality and-quantity are both generally good. The yield of rye lias been good in tlie centre and soutli of the empire. The samples which have been tested show a weight of 771bs. to Sllbs. per metzon. . There is a surplus of. wheat upon the banks of tho Don and tho Sea of Azof. The result is less satisfactory in Bessarabia. Tho yield is good in Poland. At Odessa and at Nioolaielf there are still considerable stocks of last year's in hand. Tho barleys and tho oats are short. In Switzerland there has been a good average harvest, both as to quality and quantity; the quantity is, nevertheless, insufficient, as usual, and it will ho necessary to purchase two or three millions and a half quintals. In general tlie produce of AustroHungary is preferred, but of late years recourse lias been had to different markets. In Holland the wheats are of good quality, hut they only suffice for one-half the consumption. It will be necessary to import about 3,000,000 hectolitres. Tlie ryes and tho barley have suffered. The yield of oats is good, and tho colzas satisfactory. Hemp is deficient. From another source wo learn that “ the wheat harvest has proved, so boun- “ tiful that France, it is estimated, can “ export about three and a-lialf millions “ of quarters. The abundance has also “ had for effect to reduce prices so low “that wheat sells [September Sth] for “ 27fr. per cwt., tho average price.” The authority from which wo quote adds : “ A further fall, and it will cease to ho “ remunerative. Speculation has much “ to do with the matter, and tho counsel “ given to farmers is, not to be tempted “ to sell their grain as if a panic reigned. ” Perhaps the farmers are ill-advised in this matter. The English has been favorable, but as usual the United Kingdom will largely depend upon imports. Tho Irish farmers are gradually withdrawing from tho cultivation of cereals, and going into pastoral pursuits, for which tho soil and climate of Ireland are specially adapted. South Australia has a surplus of 70,000 tons or thereby for export,

but our recent exchanges show that Adelaide looks to the Australian colonies and New Caledonia principally* as buyers. Victoria, Queensland, and New South Wales will import considerably during the current year ; so also must New Caledonia and Fiji. As for New Zealand, we have a small surplus for export also, but no doubt Adelaide wheat and flour will compete in our own markets, the grain duty notwithstanding, with Otago and Canterbury breadstuffs. An attempt has been made, but hitherto with only partial success, to place New Zealand breadstuffs in the English market. We are not aware of a single case in which it has been profitable. On the contrary, we are aware of several instances in which considerable loss has been incurred by the experiment. The South Australian Chronicle makes the following statement which, as bearing upon this point, is important to us in New Zealand ; What to do with our Immense surplus is a matter for serious consideration. The latest London quotation for wheat is 625., and the price is not likely to advance in the old country for many months to come, probably not in time to have any beneficial effect on the value of our coming crop. In. this case 45., free on board, is the highest figure South Australian farmers can reasonably expect. The following estimate of the cost of placing wheat from this colony in the English market is supplied by a leading dealer, and its details are endorsed by others in the trade Purchase per bushel, 45.: freight, 60s. per ton, Is. 7ki.; commission, exchange, &c., 2d.: loss on sacks, Ipi.; difference between English and Australian weight, 2d.; London charges, Od. Total, 6s. GJd., or-525. Od. per quarter. This, it will be seen, leaves no margin for profit to set off against the risk of loss. The case, however, may be oven worse than this, for private letters from England state that it is thought probable the Californians will sell wheat there at 425. per quarter, and it so, we may give up the idea of the English market altogether for this season. Under the circumstances, therefore, we think New Zealand farmers would do well to quit their produce while they may at remunerating rates. By and by the granaries of California and Chili will be opened, and their grain hoards dispersed broadcast. Much of it will doubtless find its way to the Northern ports of New Zealand, not to speak of the Adelaide supply. Our home demand is, for the present brisk, but it would be a comparatively easy matter to create a glut, and compel farmers to sell at unremunerating prices.