The California millers are also beginning to feel the competition of Chili at Panamaand along the west coast of Central America. and unless cheaper freights are offered from San Francisco southward we shall lose a large and lucrative market. The Argentine Republic was an importer of breadstuffs a few years since. but the agricultural development of the pampas is so rapid and extensive that the preent product not only supplies the local demand. but furnishes an annual surplus. valued at $t4.000.000. for export. The same is true of Uruguay. which has also become an exporter of wheat and flour within the last two or three years. and has an enormous productive capacity now being rapidly developed by Italian immigrants. The time is not far distant when these three countries will deprive the United States of the greater portion of its flour market in the West Indies and South America. and will enter into active competition with us in Europe. Mr.
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immigrants