Cyrus Hall McCormick: His Life and WorkCasson, Herbert Newton
History
Cyrus Hall McCormick: His Life and Work
Casson, Herbert Newton
Harvesting machinery; McCormick, Cyrus Hall, 1809-1884
At present, when a buyer or a seller of wheat arrives at an Exchange, he
goes at once to consult the weather map of the day. From here he passes
to a series of bulletin-boards, which inform him of the arrival or outgo
of wheat at many cities. One board tells him the visible supply of wheat
in the world, so that he can easily ascertain, if he wishes to do so,
_how much bread the human race ate last week_. Other boards have
telegrams and cablegrams of disaster--frost in Alberta, hail in
Minnesota, green bug in Texas, rust in Argentina, drought in Australia,
locusts in Siberia, monsoon in India, and chinch bug in Missouri. Good
news is here, too, as well as bad. There may be reports of a
record-breaking crop in Roumania, an opulent rain in Kansas, a new
steamship line from Kurrachee to Liverpool, and the plowing of a million
acres of new land in western Canada. And also there are, of course, the
records of the latest sales and prices in other Exchanges.
Thus the farmer can not only find a ready buyer for his wheat. He can,
by means of a newspaper or a telephone, know what price he ought to
receive, as all the news gathered by the Exchanges is freely given to
the public. Such is the perfection of the news mechanism that has been
built up around the marketing of the wheat, that before a Dakota farmer
starts out for town with a load of grain, he can go to the telephone
under his own roof and learn the prices at various cities and the
world-conditions of the wheat trade.
The paper which best deserves to be called the official journal of the
wheat is the _Corn Trade News_, of Liverpool; and the building which
best deserves to be called the international headquarters of the wheat
business is the handsome new Baltic Exchange, near by the Bank of
England in London. This Baltic market is so practically international,
in fact, that it is never closed. Whoever wishes to buy or sell wheat
may do so here at any hour of the day or night. There are no days in
this building and no seasons, for the reason that it is always noonday
and harvest-time in some part of the world. In this Baltic Exchange,
too, there is now a nucleus for a Wheat Parliament, organized under the
name of the Corn Trade Association. This society has undertaken to put
the wheat business in order, by establishing standard contracts,
collecting samples of all wheats, arbitrating disputes, and condemning
all dishonesties of whatever sort.
Public-domain text, read in full here on John Shaqi.
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