om the actual facts in the market for wheat. The facts are taken from
the best records available. The prices are from the daily record of the
Produce Exchange of New York. The average price for the year and the
fluctuations within the year are given for the period from September 1,
when the new crop appears, to the August following, this being the period
actually corresponding in market with a year represented by the crop
figures. The estimate of the world's crop since 1885 is taken from
carefully prepared statistics in the United States Department of
Agriculture. The estimates prior to that date do not include the entire
world, because no statistics can be reached, but they do include the most
careful estimates of all countries whose product entered into the world's
market. No effort has been made, for fear of complicating the chart, to
show a similar correspondence between supply and price in reference to
corn and oats. The tables following, however, give data for such
comparison with reference to this country alone. The export of corn and
oats has been too limited to play any great part in modifying prices.

[Table.]

Table of production--wheat, corn, oats, 1878 to 1897. (Figures give
millions of bushels)

CHART NO. 7

[Chart.]

Chart VII. Annual fluctuations in the price of wheat in New York,
1878-1897. Page 91.

_Annual fluctuations in the price of wheat. Highest year, lowest year, and
average of twenty years in New York, 1878 to 1897_

_Explanation._--This chart is intended to show the tendencies of the market
for wheat from month to month throughout the market year. In the center is
given the averages of highest prices and of lowest prices for each month
in the New York Produce Exchange during the period from September, 1878,
to August, 1897, inclusive. The horizontal lines between the averages of
extremes give the average price for the twenty years in the several
months. The diagonal lines give for each month the extreme fluctuation
during the twenty years. Above the lines of averages are given the
fluctuations by months in the year 1881-2, the year of highest prices. The
upper of the two continuous lines gives the top prices of the month and
the lower the bottom prices. The short horizontal lines give the average
price for each month; and the double horizontal line across the