The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-11-30
COMMERCIAL RECORD.
MONEY MARKET.
From he N. Y. Herald Of SATURDAY.

from the ~. T. Herald 81 Saturday.
BUSINESS OF THE SoUTH.-The security of money
in this city has caused an increased demand for sight
bills on this city, all points. The markets have also
been good deal operated upon by the uncertainty ia
regard TO resumption. Where the opinion has predo-
minated that resumption will not take place, bills
have been freely taken at advanced rates, under the
expectation that IN such the advance will be arge
other points, purchases have been small in the ex-
pectalion that the rate rapidly improve between
this and the 18th of January, when the resumption is
expected. In Mobile the for bills on New York in
the local currency, is 81 per cent; and the premium
on specie is nearly the same, indicating that the real
debedness of that point New York is not large, and
the rate must fall least per cent, ifthe banks ofthat
state resume, which matter of great uncertainty as
they are not bound IL do by law but merely in con-
sequence of the force of public opinion The rate Of
sterling bills, win be seen, is less in most Of the SOU
hern ports than in this city, At Mobile the rate is 10
lO4 percent in currency deprecated per cent, which
is about equal to per cent New York currency, or
per cent less than The here. The demand in this
market is not great and the amount of orders gone
abroad for goods is sufficiently large 10 warrant the
belief that tho demandw increase fast as the sup
ply.
For the coming year the means of the cotton and
tobacco growing states to pay old debts, or to make
new purchases Of gooIs, will be greatly increased
through the fail ofose articles of consumption which
they purchase of the western or wheat growing and
grazing States This will he the case Notwithstanding
the probable low price OF cotton, tile prices of the
goods will fall in perhaps proportion. very &C
curaIe estimate Of the difference ofthe fall of provisions
will make to the cotton growing sections may be ap
proximated by looking little into facts. A large pro
portion of the flour, pork and beef consumed in these
sections is the product ofthe States from which
hey purchased and paved for bills on the cost
THIS forms the basis of the banking business In for
mer years the prices these articles have gone mn enor
mOusly high under the influence of bank iniatioa while
he rise in the prices Of cotton has borne but a sD4a
proportion to it, The direct result has been that the
profits Of the planters have been diminished for each
dollar that those articles have risen above fair price,
In Europe the average consumption of Butchers meat
has been estimated by the most celebrated economist at
from 80 TO 40 lbs each individual per Prussia
consumes yearly 4SO))O lbs. OF butchers meat with
population OF l4OoOO0D, which is about 81 lbs. ave-
rage. Great Britain consumes l2j0,O0J0OO lbs with
population of 2.)OJ0)O, average of 50 lbs each
Throwing it into tabular form it is as tolows:-
Population, Consumption .4yerage Average
OF Meet. per hsua. price.
Prussia, 100000 4sj001.OOo.bs 34lbs. 9cents.
As-oO'JVO.vOV
The average consumption of meat in this country Is,
probably higher than either Of these bat we will as
sumo the average consumption OF England as that of
the cotton growing stltes-the consumption of in
England is computed at average Of eight bushels per
annum. In TINS country, the consumption is probably
Jess, from the fact that the consumption OF is
larger Il may be estimated an average of one bar
rel of flour or five bushels per annum. IL
take the population Of the cotton growing States we
the difference Of Indebtedness of the South
the West in Of high prices, and in of
low prices The population of the cotton and tobacco
growing States is now 6OOO,0OO of inhabitants. On
these data we construct the following table, showing
the product and value of and rice in 1887 the
consumption, prices, and values of -four and meat in
the year, as compared with the same items for
1904.
Produced. Price P1iuc.
1897, Cotton, 569.472,00O lbs Il cts So, 200 $50