The daily union., 1846-09-28
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THE MONEY MARKE1I /,

| THE MONEY MARKET 81
| The increase Of the price OF wheat and corn
caused by the abrogation ofthe oppressive corn
laws of Great Britain, If calculated on the entire pro-
duce ofthis country for the year iS46, supposlne
the produce ofthose grains TO be no greater than the
estimated yield for lS45 will amount 20 the enor
nous sum Of s42, ,443 700l That is to say, the
wheat and corn raised in the United States the pre-
sent year, are worth about Joriy-t,oo and haf nt
lions of dollars more than they were befofe the
rise Of ,rce; and the recent rise is clearly atribua
bic TO the demand for breadstuffs IN England and
Ireland SO much for the removal Of one OF the ar
bfary restriction OF trade, which shut out the abun
dant supplies Of the farmers Of this country, 10 the
injury OF the starving millions of Europe, that the
few landhoders there might live in affluence. The
wrong and oppression was maintained In England
in the UniIed States, with the fudge and fallacy
Of self-relianee offbregD Countries
home market, and ali that sort Of stuff The man.
uaeturing masses in England, who bore the burden
Of the protection 10 the landed nabobs IN that naon
precisely as the farmers ofthe United States bear the
burden OF the tax that enables manufacturers IA
this to grow rich, feel the benefits Of opening their
ports TO our hreadstuHs 10 a much greater extent
than do our farmers, greatly increased in value aS
the product Of their lahOr5 10 seen To be. The re-
noya OF restrictions our side will still farther
benefit the agricultural interest The cry Of IA
home MAJ ket" Is fast losing It's charm with the
hardy tillers of the soil They with much force OF
reasoning ask, "ifthe building up of Lowell or
Nashua ever incr ased the price of the farmers
wheat and corn IA Ohio, Illinois, or lndianal Eve
ry man knows better. Has Il INC creased the farmers
corr aud rye raised Ia their p,ry Hsghborhood? Ey
-Iy farmer, hity years Old, who lives there, knows
better. lie knows that rher prices thirty or forty
year ago, were higher than they are now Southern
and western corn and -four have been brought,
by means Of these manufacturing estaJ ishments,
into competition with those Of the New Eng
land Farmer at his own door, reducing prices ther,
sithOul increasing them IN the regions whence
the new supplies come. These are facts ana
the strongest arguments. To think Of incIeas
ing the price Of western produce by building up
manufactures and thus increasing the number OF do
mesuc cOnsumers 10 as idle as think OF affecting
the volume of the Mississippi above or below 10y
throwing The waller over the leyee at New Orleans
with hRnd-buckel The production OF uIat leeming
region is vast TO be affected by an operation go
minute. The Mississippi must have an ocean to
receive the waters Of It's lnnumerabe fountains and
It's valley must have world for market To create
home market for its productions by legislation, is
Just about az udlcrous IN operation as digging d
home reservoir TO receive the waters Of its mighty
rivers.
The total amount OF -four exported from Bali-
more, for the second quarter Of the present year,
was 26 025 barrels, valued at s572 0lS, against
65 624 barrels, valued at S32O 1856 ofthe correspond.
ing quarter last year The quantity of tobacco
exported for the quarter was 3,Sl5 hogsheads less
nan the corresponding quarter OF last year, This
indicates increase OF the product Of free Ia
bor, and a decrease Of the product OF slave Ia.
Dor.
All the stock Of the Havre de Grace Bank has
been subscribed for and the bank will be IN opera
lion in the course Of one or two months.
The New York money market Is represented as
easier than for eighteen months; stock loans on the
best securities easily negotiated per cent
The Tribune notices brlskness in freights and
hat shipmasters unsuccrssfuy endeavoring 10
press rates upward. Flour to Liverpool is 2s Ga
grain, SD; cotton, 3 l6 a Id, The ship Isabella
a as aken up for Antwerp load grain, and the Al
'arado for an outport. The rate for grain to Ant
werp is % cents per bushel 1"
The receipts at the New York custom-house last
week, Gays the Tribune, "were about 1915 900
something over the previous week. Considerable
portions OF the payments for duties are made in
treasury notes, and the amount Of city bank notes
ocked up in the bowels of the iron subreasurer in
he custom-house is less than 5000, 900 Even this
mount, distracted from the city circulation, is,
we are told, embarrassing to the banks, and the
officers are busy in getting out increase in circu-
alton"