Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1845-09-29

q ,nr and eotion must Of necessity do The sahe-'''
ihs, whenever either of them 10 selling low Inc OIL"
rrs canno, escape the depressing influence wh'c o''"
ishes its value lis impossible, the prices oil produce
are dependent upon the tariff that one Of them can DC
DR. speruus while the others deoreca'ed IN value.
Bu, is that The fact Far otherwise. bet US see;
Ia 1921, when the average value Of flour was only
81 CO per barrel (toctr than has ever been s'nce)
the average value Of cotton g cents per- h. The hgh-
esi pint has reached except in 1925. the year
after higher duties imposed, when is was ~ cts
How is IL accounted for that lille n,ur was 81 low cot
ton was 81 HIGH the tariff influences alike the value
VI both
Again-ln 1857, whsn -four was 50 80, its highest
aluaon, io5sccn almost a, lis orcsl, being only
S5S per hid And il is most remarkable fact. which
is shown by the table n the .'Republican Of Monday
last that while -four rose in value from 1896 10 1897,
from 81 CO 50 &c. (o 81 81 css per barrel. tohac-
fell. within the same period VI tme from W. III SoS
Tor S34) per hoyshead VIVA. occasioned this augmen
,aon in .he price II -four, and this decline in the price
Of -four, pari pasuf Did the cause (he tariff
produce,he'o dramatically opp site efe;ts al the same
momen2 Such an assumption is supremacy ridiculous;
and only account for lis being entertained SIN
gle moment, by the fact, that those who advance
riousy have carefully scanned the facts upon which
they rely 10 sustain it. Even Col. HUBBARD who We
believe was among The first grarely to attempt TO sust'ln
The pon by elaborate display offgures every
column Of which trlum hanlly efuied it, by this
time be ashamed Of his li'le pamphlet, and We doubt
secretly hopes that every copy Of it has been lost
His friends do him service by reviyng he ecollec-
ton OF prod dscredabe 10 him No a lepisla,
tor and a statesman.
The facts above cited show concnsively not only
what is the Of high and low prices of produce
but also what is, if not the sole the potent cause.
:" Demond and Supply are certainly The eicien'
regulators of prcesln the absence Of influential extra
neous circumstances indeed they are the exclusive regu-
lalos When The ordinary annual production of any al
lice is equal 10 the ordinary annual consumption for
series Of years, sudden dinnution in the supply, by
uniavorable SEASONS leads an augmentation OF prce
and so, the other hand when Tor series Of years.
there is overproduction, that the markets bee me
gul,ed, prices OF necessity fall ans no advance can he
expected, until the stock shall be reduced Something
however, ina country like this depends upon the state
of the currency. Its Initiation, by Bank issues,
such as resulted after the destruction OF the National
Bank, and the Consequent unprecedented u,plication
OF State Banks, will necessarily advance in the
Pce w oouce as well as OF every other commodity, 10
be followed by decline if there be greA, withdraw
al OF notes from crcuation though the relation be,
tween demand aud supply should be undisurbrd, either
by deficiency by excess of production But the Ia
rfl SO far as II is not prohibory, cannot by any poss
bllty produce any such effect lit did, it Must be- OF
course by diminishing The ability Of foreign nations to
purchase from But Great Britain generally takes
very little Of our four-so that in 1885, for example
when flour commanded higher price than it has done
except in 1885, for twenty years, the average value
being 81 "a, We not indebted her for tina, ad
vance in price at alias in that year the quantity expor
ted 10 Great Britain was only 295 barrels amounting
in value to the pary pance of $67 .O00-no, as much
as the town Of Lynchburg annually consumes. The
high price Of that year. it is apparent did result from
foreign demandand ii therefore could not have beer
even remotely attributable 10 the dimnution of her ab
~ 10 purchase, resulting from the operations OF The ia.
riff
! II is scarcely worth ~he, however to say more on
asubjec, which must be plain To the most ordinary
midland we dismiss it therefore with promise in q
lew days. 10 take cognae branch of the question:
the comparative value of the Home and Foreign markets
particularly with reference the two great articles
FTguid production, wheat and tobacco