The Sun.
London, England, 1845-11-10 00:00:00

REVIEW'OF THE BRITISH CORN
TRADE DURING THE PAST WEEK.
Three weeks of unusually fine weather has enabled
farmers in the north to save a large quantity of grain, which
of much of the corn lately carried must
at the close of last month was given over as totally lost.
Thatbe
indifferent the qu
cannot,4iity when the repeated drenchings it has
undergone be called in mind, be for a moment questioned;
still it has been got in, and will, therefore, in some way or
other, help to furnish food for man or beast, which, consider-
ing the deficiency of the crop of wheat as a whole, and the
extensive failure of potatoes, is something gained. This slight
improvement in our prospects has not been without its in-
fluence on the trade, and farmers having (as is usual at this
period of the year) threshed out pretty freely, a check has
been given to the upward movement in-prices. We foresaw that
this was likely to occur, and intimated thesame last week ; but
we then stated, and still think, that there is nothing in the
position of affairs likely to cause any material or permanent
fall in the value:of bread stuffs:
So far frcm it having been discovered that the yield of
wheat is better than expected, complaints of the number of
quarters procured from a given quantity of straw are be-
coming more general in proportion as threshing is proceeded
with ; and the fact that there is a difference of at least 20s.
per quarter between the best and the, worst samples of this
year's produce proves plainly how wretched must be the
quality of the latter. Meanwhile the investigations which
are being proceeded with to discover the extent of the pos
tato disease, have brought nothing to light which warrants
us in stating that the alarm or that:subject is ill-founded,
• indeed the reports from all quarters are of a nature to confirm
our worst fears; and however quiet the trade at present may
be, we cannot divest ourselves of the apprehension that the
prices of bread stuffs will ultimately rise to a point threaten-
ing serious inconvenience to the poerer classes of the com-
' munity. •
The very inferior quality of a large proportion of the
wheat of this year's growth has hitherto prevented the
duty receding more than a step or two, and from present
appearances it is questionable whether the article will for
some time be admissible below 12s. per quarter; this is, under
existing circumstances, unfortunate, inasmuch as the tardy
manner in which the duty diminishes will give the opponents
of the law grounds for -raising an eatery which may have
some effect on our expediency Miniater. There has lately
been a great deal of talk about in order in Council to admit
corn free; and though we do not believe that any such pro
ject.is contemplated; still it indicate; the course of public
feeling. Had the quality of the new produce been only
-tolerably good, the duty would undifubtedly ere now have
fallen to 104 per qr.. or perhaps lower, in the regular
course of things, the finer sorts of fed having for some
weeks past .been selling at 70s. and upwards, whilst choice
samples of white have realised as much as 80s. per qr.
at several, of the principal consuming markets. It yma
readily be conceived, therefore,. how bad must be the quality'
of the common runs, to have kept the-general average below
60s. per quarter; such, has, however, been the case, the last
weekly return far the kingdom being only 595. 2d. per quar-
ter. All the Wheat lately received from abroad has, there-
fore, been landed under lock, and that which may still come
to hand is likely also to be stored in bond, importers feeling
perfectly satisfied that, sooner or later, a foreign supply will
be needed, and that, ultimately they will be enabled to enter
their property at a very low duty, notwithstanding the op-
posing influence of the bad qualities of the new wheat. In
one respect, at least, the law of 1828, was more favourable
for the consumer than the present enactment, for after
prices had risen to a certain point, the duty came off rapidly ;
and though this was, we must confess; a strong temptation
to tamper with the averages, yet it 'had the benefit, that
when there was'real necessity—such as, we believe, there to
be •at present-the impost was speedily reduced sufficiently
to induce importers to enter for consumption.
By our advises from Scotland, it appears that the favour-
able weather, and the subdued tone of the reports from the
South, had had more or less influence on prices; and, though
the accounts respecting the spread of the potato disease had,
if anything, become more alarming, the value of most kinds
of grain had shown a tendency to decline at the leading
towns: not only was wheat cheaper at Edinburgh on Wed-
nesday, but barley and oats were also obtainable at lower
terms, and on the whole, business finished very languidly.
From Glasgow we have similar reports, though stocks of
most articles are short at the last-named place.
The awful consequences which would inevitably result from
a failure of the potato crop in Ireland, cause the utmost
anxiety to be felt on this side of the Channel, to ascertain as
far as practicable the extent of the iniichief likely to be occa-
sioned by the disorder which has attacked the crop in the
sister isle quite as generally as in this country. The accounts
from thence are, up to the present time, sufficiently serious
to give rise to much uneasiness ; but we still hope that when
the first alarm shall in some degree have subsided, the injury
may not prove so extensive as it is now represented to be.
At Mark-lane the trade in wheat has been extremely dull
this week, which
must be partly attributed to the effect pro.
duced by the rumour to which we have already alluded, viz..
the Ministerial intention of opening the ports.
The arrivals of wheat coastwise into London have been
tolerably good, 5,100 quarters having been reported during
the week. Beyond what was left over from Monday there
has, however, been but little wheat ekhibited at Mark-lane,
the bulk of the receipts from the east coast having gone to
the millers direct.
On Wednesday businesss was quite paralyzed, in conse -
quence of the .reported probability of a Ministerial inter-
ference with the. laws The trifling sales made were at prices
which would-not previously have been accepted ; but though
factors were willing to make some concessions, they were un-
able to effect a clearance of the stands
On Friday affairs remained in much the same position,
the-only difference being, that more anxiety was manifested
by sellers to realise on the latter than on the former day.
On the other hand, millers were even less inclined to buy
than before, and to have induced them to purchase freely
rather an important reduction must have been submitted to.
Foreign free wheat has moved off,vety tardily throughout
the week ; holders have, however, refrained from pressing
sales, and quotations have remained nominally unaltered.
The same cause which has depressed . the value of free has
raised the price of bonded wheat ; but, the enhanced terms
asked have not been very readily paid, and the operations
have been comparatively ueimportant. Some fine high-
mixed Dantzic was; we believe, sold on Wednesday at 625.,
and moderately good Rostock at 565. per quarter. Towards
the close of the week there was less inclination to speculate.
By the official account just published, it appears that the
total stock of wheat in bond in the kingdom consisted, on the
10th Oct., of 543,666 quarters, whereof 207,874 quarters were
in the port of London.
Flour has been rather difficult of disposal during the week ;
the nominal top price has, however, remained steady at 60s.
per ,ack, and no quotable change has occurred in tie value of
other sorts.
The arrivals of barley have been only moderate; the
receipts have nevertheless proved quite adequate to the
demand, and the recently-established advance has been sup-
ported with some difficulty.
Malt has elso moved off tardily, at former rates, bat
holders have displayed much firmness.
With oats the market has been sparingly supplied; the
total quantity which had come to hand up to Saturday
evening, including 5,181 quarters from abroad, amounting
to only 14,61 i quarters. Hitherto, therefore, the very
high prices at Mark-lane have failed to draw supplies;
the principal dealers seem, however, to calculate on
better arrivals, and have lately conducted their opera.
tions with extreme caution. The trade has, since our last,
been of a strictly retail character; bet needy buyers have
few grain is now ss. per qr.,
weeks take place.
had to pay quite former terms; and as the stocks are by no
means large, it is questionable whether, even if we should
do
receive a good supply, any material depression would be
Laud a further
caused here b j,
.
reductionT mustuty
in thisin
a
Beans have come to hand sparingly, and the trifling busi-
ness transacted has been at very high rates.
Peas have also commanded fully the currency of Monday
last. The duty on the latter article is now only ls. 6d. per
qr., having fallen a step on Thursday.--- lark-rune

Express.