New-York daily tribune., 1844-06-05
Crops, Business, &c. in KentucIy-Trode
with the East-Routes OF Transports

Crops, Business, &c. in Kentucky-Trade
with the Esst-Routes OF Transporia-
ton. &c.
Correspondence of TIE TIibune,l
LEXINGTON. Ky May 9th, ioA.
NO. II.
From al the information which | have btcn
enabled to gather after travelling some days in
this State have no hesitation in saying that the
growing crop Of Grain promises TO be larger than
has bsen produced for a number of years past.
The season in this section Of the country Is re-
markably forward-so much 50 that Wheat will
doubtless be ready for cutting in the course OF
three weeks from this time The crop OF Grass
is very heavy and that of Hemp bids fair to be
TO less abundant.
Within the last few months almost every branch
Of business has received new impetus. PEI
haps no State suffered less in the general revul-
sion from which the Country is Just emerging
than this The reasons for her comparative ex
emption from embarrassment may be sought, pri.
marily, in the soundness of her Banking system
and in the wisdom of her legislation. Superadded
to these influences were the boundless resources OF
her sui and the prevalence of q prudent forecast
adoption of rigid economy. Hence mercantile
business has been for several years, prior to this,
considerably depressed. But this partial suspen-
sion of the sale OF merchandise has had the effect
10 prepare the community TO consume and pay
for more goods than formerly. Accordingly this
season has been the most prosperous for the mer-
camille interest that has been witnessed for
number Of years.
Prior to the year 1887 large proportion of the
goods consumed in the valley of tie Ohio was
purchased in The New York rnarket-since that
period the trade has been confined almost e1clu-
siyely to The cities of Baltimore and Philadelphia.
Prominent among the causes which consplred to
procucc this result, may be named the derange-
ment of the Exchanges of the country. 1t Is well
known to all who arc conversant with the subject.
that during the long penod IN which the Currcn
cy of the Western States was al heavydlscount
ia the New York market, 1t was 50 near par III
the cities OF Baltimore and Philadelphia that II
could at all times be used without sacrifice either
N the payment of notes or IN the purchase oi
goods So long as this state OF things existed, II
was in vain TO attempt to convince Western
merchant thai it was the dictate oftrue policy to
submit to the loss OF exchange and to make his
purchases with sound funds. Now, however.
that the Currency of the country has become re-
stored to soandness and uniformity, comparatively
spea king there is 10 good reason why the trace
of the entire West should not once more seek the
great primary market of the country. But Ii
concerns the merchants OF your city to know.
Incredible as it may appear, that the impression
prevails very generally IN tne State Of Kentucky,
as i, probably does elsewhere IN the valley of the
Mississippi, that business is not transacted upon
rs falr, honorable and systematic loo'ng IN
New York as it is in Philadelphia. That the
notion should have gained credeDce that there Is
.s IS honesty in New York than there is IN Phlla
dephia, where the tone OF public morals Is un-
qucstionabr lower than it is IN any other Aner
can city, is passing strange But IT is, and II
bchooyes the merchants OF the Commercial En-
oo,ium to sec TO it, that so foul an impulatlon
npon her fair fame is wiped off.
Another point deserving the serious considera-
ton of your merchants is the shipment of goods
destined for this section of the country III Is
matter of astonisment To me To IND how niue
accurate information is possessed in this State
with reference TO the great Northern route, RIA
he Erie and Ohio Canals During a considera
bic portion of each summer-from two TO three
months on an average--the Ohio river is too low
to be navigahle for any other other than the small
est class of steamers, and for fiat and keel boats
At such times the rate of freight from Pittsburgh
to Mayville and Louisville varies from 81 l2i To
81 so per cwt and goods are besides frequent
ly subjected to very serious delays, both on the
| Pennsylvania Canal and the Ohio river. Under
,hcse circumstances the Lake route must always
be the most eligible in the Summer and early part
of the Fall, for the reason that it is the cheapest
most certain and commonly the most expeditions.
! The Banks in this State have recently ad-
.ancod tho ra 10 of t,Xchappe on the East from
10 per cent. This step has been taken be-
cause j, is believed that butittie more Exchange
wl be furnished until the next crop is sent for
ward and sold-nearly the entire proceeds OF the
last one having been realized
Money is abundant and is seeking investment
at the rate of sir per cent. per annum-the law
| lul rate of interest In This State.
remain. very truly yours. AMERICANS