Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-10-15
The Money Market.

The increase of the price Of wheat and corn, caused
by the abrogation Of the oppressive corn laws OF
Great Britain If calculated the entire produce OF
this country for the year 1885, supposng the produce
of those grains to be greater than the estimated
yield for 1645 will amount to the enormous sum OF
81, 443, 100! That is to say, the wheat and corn
raised in the United States the present year, are
worth about forty-tTo and half millions Of dollars
more than they were before the recent rise OF price;
and the rise Is clearly attributable to the de-
mand for breadstuis in England and Ireland. So
much for the removal Of one of the arbitrary restrc-
tons of trade. which shut out the abundant supplies
of the farmers of this country, 10 the injury OF the
starving millions of Europe, that the few landhold-
ers there might live in afiuence- The wrong and
oppression maintained in England as in the Unit
ed States with the fudge and fallacy Of sefrellance
undergraduates of foreign countries-a home market,
and all that sort of stuff The manufacturing masses
in England who bore the burden of the protection to
the landed nabobs in that nation. precisely the
farmers Of the United States bear the burden Of the
tax that enables manufacturers in this TO grow rich,
feel the benefits of opening their ports to our bread
stuffs to much greater extent than do our farmers
greatly increased in value the product of their la
bors be. The removal of restrictions on our
side still farther benefit tie agricultural interest. The
cry of sshome market'' is fast losing its charm
with the hardy tilers Of the soil. They, with much
force of reasoning, ask, .if the building up of Lowell
or Nashua ever increased the price of the farmers
II
man knows better Has it increased the farmers
corn and rye raised in their rery igh6orhOods Eve
ry farmer, fifty years old, who lives there knows bet
He knows that their prices thirty forty years
ago, higher than they now. Southern and
western corn aud -four have been brought, by means
of these manufacturing establishments into COMPETE
ton with those Of the New England farmer at his
own door, reducing prices there without increasing
them in the regions whence the supplies come.
These are facts and the strongest arguments. To
think Of increasing the price of western produce by
building up manufactures, and thus increasing the
number Of domestic consumers Is as idle as to think
of affecting the volume of the Mississippi above or
below by throwing the water over the levee at New
Orleans with hand bucket. The production of that
teeming region is too to be affected by opera
ton minute. The Mississippi must have ocean
TO receive the waters Of Its innumcrabe fountains,
anG its valley must have world for a market. To
create home market for its production by legislation,
is just about as ludcrous an operation as digging
home reservoir to receive the waters of its mighty
rivers.
The total amount of flour exported from Baltimore,
for the second quarter of the present year. 1885,
02S barrels valued at 20l6 against 63 S24 bar
rels, valued ct 09S6 of the corresponding quar-
ter last year. The quantity of tobacco exported for
the quarter Sl5 hogsheads less than the
ponding quarter of last year This indicates in
crease of the product of free labor and decrease Of
the product of slave labor.-Phz Ledger