FLUCTUATIONS IN THE WHEAT MARKET.

Colonist, Volume III, Issue 281, 29 June 1860, Page 4

FLUCTUATIONS IN THE WHEAT MARKET.

Mr. J. C. Coohrane, a farmer at the Broadmeor dows, in his examination before the select committee on the Tariff, on being asked how the remarkable fluctuations in the wheat and flour market observable for some years back, was brought about, gave the following (question 1883);— I have observed it closely for the last few years. I may say to commence with, the position that agriculture holds in this colony is this —there is a strong kind of warfare going on between the importing merchants' and the farmers. There is an effort on the part of the farmers to stick to their business, and an effort on the part of the merchants to do away with them, and to get the supplying of the population with food entirely into their own hands; and it is always so managed that tho price of wheat is made encouraging immediately after harvest, as it was this year, and last year too, to induce the farmers to thrash their wheat out, and some are compelled for the want of money and somfa for the want of a- place to store it to send it to market, and as sOon as the train is properly laid they manage to drop the price down again till they get all the wheat out of the farmers' hands, and up it goes.

This was the process which took place last year; 8s per bushel could, have been got for wheat immediately after harvest; very soon it dropped down to 6s or 6s 3d, and was kept very near that price until the majority of the farmers were exhausted of their supplies, and then without any apparent cause —judging from' the laws of supply and demand—it rose in price till it was 14s 6d .pet bushel in Melbourne; and of that price (14s 6d) I venture to say there were not ten farmers, in as far as I am aware of—twenty or thirty miles round Melbourne—able to take advantage, so that while the people have to pay a higher prioo for the wheat they are consuming, the.colonial producer is not deriving any advantage from it.",— Melbourne Age.

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