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Updated: June 22, 2025
In a country which formerly produced a vast exportable surplus of cereals and other agricultural produce, and in which the non-agricultural population is only 15 per cent. of the total, it ought to be possible, without great difficulty, to provide enough food for the towns. Yet the Government has failed badly in this respect.
The conquest of Samoieda and Siberia near the close of the sixteenth century, contributed to encrease the exportable commodities of Russia by their furs, salmon, sturgeon, &c.
This cable, in part, was as follows: "Unless you are able to send the Allies at least 75,000,000 bushels of wheat over and above what you have exported up to January first, and in addition to the total exportable surplus from Canada, I cannot take the responsibility of assuring our people that there will be food enough to win the war.
The blockade of Russia, lately proclaimed by the Allies, is therefore a foolish and short-sighted proceeding; we are blockading not so much Russia as ourselves. The process of reviving the Russian export trade is bound in any case to be a slow one. The present productivity of the Russian peasant is not believed to be sufficient to yield an exportable surplus on the pre-war scale.
Those farmers who raise their living on their land are not greatly in distress. Such loans as are wisely needed to assist buying stock and other materials to start in this direction should be financed through a Government agency as a temporary and emergency expedient. The remaining difficulty is the disposition of exportable wheat.
On the whole, England probably, of all the countries of Europe, draws to herself the largest share of the gains of international commerce: because her exportable articles are in universal demand, and are of such a kind that the demand increases rapidly as the price falls. Countries which export food, have the former advantage, but not the latter.
The well-defined caravan trail leading from Ismidt to Angora comes no farther eastward than the latter city, which is the central point where the one exportable commodity of the vilayet is collected for barter and transportation to the seaboard.
The peculiar evil to be apprehended is, that the high money price of labour may diminish the demand for it; and that it has this tendency will be readily allowed, particularly as it tends to increase the prices of exportable commodities. But repeated experience has shown us that such tendencies are continually counterbalanced, and more than counterbalanced by other circumstances.
Lord Elgin's often-quoted words picture the deplorable state of the country: 'Property in most of the Canadian towns, and more especially in the capital, has fallen fifty per cent in value within the last three years. Three-fourths of the commercial men are bankrupt, owing to free trade; a large proportion of the exportable produce of Canada is obliged to seek a market in the United States.
A certain waste of the national resources, by the employment of a greater quantity of capital than is necessary for procuring the quantity of corn required. A relative disadvantage in all foreign commercial transactions, occasioned by the high comparative prices of corn and labour, and the low value of silver, as far as they affect exportable commodities.
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