“The great product of our state is
wheat, and it so happens that, owing to
our geographical position in relation to
the great lakes, nearly all of it goes to
Europe—that is, we are raising wheat
very largely for export. This affords tin
unusual opportunity for the study of the
selling market for all of our great ex
port crops. In our own use our wheat
tinds its way to Europe, there to meet
the streams of wheat from India and
south Russia and Argentine. Mingling
with those wheats and the wheats of the
importing countries, they all find there
a common level of prices. Our wheat
must mainly go to Europe and must
there meet the prices of the world or else
be dumped into the soil Let there boa
marked decline in wheat in India today,
the news outruns the sun, and tomorrow
morning wheat prices drop in tho re
motest corner of the Dakotas. No better
proof that our markets for wheat are
lixed by the world need be given than
is found in the fact that with the small
est crop in years the prices of wheat are
the lowest ever known to the trade. It
seems pretty clear that, however it may
be with other products and manufac
tures of tin' United States, the wheat of
North Dakota is in direct and unavoid
able competition with the wheat raised
by the pauper labor not of Europe alone,
but of Asia as well.
