Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-06-25
EbD.YH ES'EEC.
(F1om he .Ntn York Ereaing Post }
DEI.INI AIIIIAN

SPECULATION.
There is much uG,i"o in the following view oi
certain fuur specuatiuns, Of hch heard much
yenr or two since, and which are now approaching
unfortunate close:
"What was said the other day in the Evening Post
conc.I ming the folly of attempting TO contravene the
laws Of trade by conspiracy TO keep the prices OF any
commodity Of general consumption higher than they
naturally would be, has been sgna!y illustrated 10y The
case uf The wheat and -four monopoliss Of this State
"li is as dangerous TO tamper with The laws OF trade
as with The Laws Of the human constitution and their
violation is or later as signaiiy avenged They
who take counsel together Tor The purpose Of compelling
the community TO pay aTiihclaIy high prices 10" any
product which may be raised Indefinite quantity,
are often blindy engaged in plot against their own
in,errs,s They digging a mine, which, when
sprung, will be likely to Bow up their own castle
The msrs Of the interior OF New York have FOR
some wears past detained their wheat md ,ur from
maj ke, in the hope Of ultimately aizng large prices
They furnished with mpe means Tor this purpose
the Incorporated banks and were thus enabled to
defy competition They paid the farmers literally for
their wheat in order to prevent decline Of prices and
To yet the entire crop into their own hands Let any
one lock of the map of The country and observe what
vast fertile wheat bearing coGnry pours lis harv' SIS
through the Erie canal, consisting al own fertile
interior part of Pennsy lvnna, all Ohio rnversed by
the Cleveland canal indiana and Illinois, and ne i'll no
longer wonder that these in their favorable posi-
lion with the capitals OF banks al their command should
be of the rsern haiTests that their gamers
should become like the garners OF Pharaoh cramned for
seven years famine and that the milcrs of Rochester
should literally fix the price of -four for the New York
market
sIhe artificial scarcity produced by these ndu.
ced TO other bread suffs and ulhe
kinds of food Wheat became Too dear to be consumed
so profusey heretofore and Indian rye potatoes
and pulse we're substituted It is true that the prices
these articles in Qnence, but they were still
cheaper than wheat flour
"ln the mean time, while the consumption Of wheat
was diminished its cultivation was encouraged by the
high prices il bore in market Farmers induced tc
30 mors largely than into branch Of agriculture
which offered such liberal returns ! he quantity o.
wheat raised in the country has been increased, iron
wear TO wear for the last three years, ind the proper
lion Of soil appropriated 10 its cultivation is i'm
mense.
"At this moment, when The plains and hills of ou
mighty inland country rich with the promise o.
abundant wheat harpests when grain Is waving where
formerly ceue lowed in pastures grass stood waiting
for The scyhe This The foesallers Of the aou
market find that they have undertaken more than they
can execute. They discover that mercantile comb
nation with oil the aid of The banks keep pace
this race with the produclvenpss Of Nature, and the
tvy Of human industry They see thai no such volnn
ary monopoly, unaidrd by law, that in which they
ha We been engaged, possibly last through more than
two or three seasons Their exhausted; the
carners are full and the immense harvcts of the presen
summer are yet be purchased i, has been said, tina
the rners of Rochester alone will LOSE half million
dollars BY the decline which is taking place in the
prices Of -four.
The banks will be called on 10 sustain those whom
they have hitherto aided in those transactions and
do it, as far as they able, but they will find il an
barrassing business In the time, it is proper
record The calnmitous result Of this conspiracy force
the community pay eSobitont prices for article
general consumption as useful lesson 10 those who are
tempted by the lust Of riches 10 engage in such projects