London has no elevators, and never has had, although it buys more wheat than any other city. It has six million mouths to feed, so that the grain is devoured as fast as it arrives. To give bread to London would take the entire crop of Indiana or Siberia. Neither are there any elevators of any importance in Paris, Berlin, or Antwerp. Whatever wheat arrives at these cities is either hurried to the mill or re-shipped. Wheat is too precious in Europe to be stored for a year or for two years, as may happen in Minnesota. Rotterdam has one elevator only and of moderate size. Neither Odessa nor Sulina have any of the large proportions, for the reasons that in Odessa the labor unions have an unconquerable prejudice against elevators, and in Sulina the grain is held only a short time and then forwarded elsewhere. This Sulina, as a glance at the map of Europe will show, is the loneliest of all the wheat-cities. It stands on a heap of gravel at the mouth of the Danube--an oasis of human life in a vast marshy wilderness. The children born there have never seen a railway; but 1,400 ships leave the stone docks of Sulina every year laden with enough wheat to feed London, Paris, and Berlin. To find the exact reverse of Sulina, we must go to Buenos Ayres--the premier wheat-city of South America and the gayest of them all. Built up at first by the cattle trade, and now depending mainly upon wheat, this superb city has become the topmost pinnacle of South American luxury and refinement. It has several new elevators, erected by the railway companies. After the Reaper, the Railway, the Steamship, and the Elevator, came the Exchange. This, too, came first in Chicago, in its modern form. There was one little grain Exchange in the Italian city of Genoa, several centuries ago, and England points back to 1747 as the year when her first Corn Exchange was born. But it was the Exchange in Chicago, started by thirteen men in 1848, that first came into its full growth and became an arena of international forces. A wheat Exchange is to-day much more than a meeting-place for brokers. It is a mechanism. It is a news bureau--a parliament--a part of the whispering-gallery of the world. It not only provides a market where wheat can at once be bought and sold, but it obtains for both buyer and seller all the news from everywhere about the wheat, so that no bargain may be made in the dark. Before Exchanges were organized there were times when a farmer would drive twenty miles to the nearest town with a load of wheat, and find no one to buy it. Even in Chicago, in the early forties, a farmer ran the risk of not being able to trade his wheat for a few groceries.