Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1846-09-09
THE FOREIGN MARKET GOVERNS PRICES.

and as it is usually understood, nothing Is more iase
The foreign market, say some, governs the price,
hence we would have high prices we must purchase
in foreign markets, that they may purchase OF U.s.
That is the Free Trade argument in nut she'll, but
we do not see how it leads to high prices. II we
purchase large quantities of their goods we shall De
naturally DESTROYS Diminishing them with large guam
tities of our wheat in exchange But our desire does
not Increase their uans, and If they consent to re-
ceiye more than they need it must be at reduced
price. Hence extraordinary importatons will be at
tended with low prices for agriculture. products;-
unless scarcity prevents. iii were true, as iniered
that to affect the price of wheat In New York, we
must take measures to raise the price in Liverpool,
We should rather stop importing or exporting and
cut eff all the supplies we could that we might Gre
ate greater demand in the latter place.
But the expression Is an accommodated one. we
say the aForelgn market governs prices just as we
say the asun rises" We speak of both not as they
actually are, but as they The price OF Flour
and Wheat in NewYork, is governed, as 1t is every
where else by the proportion between the demand
and supply;-whether the demand come from home
or abroad is matter of Indifference; but the first de-
oand will have the frst influence the second if still
more urgent will cali attention from the first until
is supplied if not so urgent it Will be neglected un'i
the first is supplied; and so on. An order on New
York from Boston, for -four, just as potent In al
f.ctinp the market as an order from Liverpool aside
from the exaggerated accounts of the demand; and
the only reason we do not look as anxousy to Bos-
ton for the source of increase in prices, ls that we
are constantly in connection with that city, the small
est rise or fall is Immediately known, and does not
reach us in the aggregate of months variatlon as
in the case of the latter city. Our Home Market
first fixes price, the variations In the demand oc-
casions what rreguarty naturally arises;-the Tor
eiqn market affects changes, but does not goce'm.
The fact which people wish to find in this inquiry,
and which free traders infer from their assumption
that the foreign market governs the price, Is winch
is most important the Home or the Foreign market!
This can only be ascertaned by taking an average OF
prices for length of time. In which market, Tor
instance has the average price of -four been quoted
for the wear past! Will OF the Friends OF the
Anti-American Tariff make this inquiry and see Il In
their attempt to bolster up Foreign market 'hey
are not destroying better one at home! FROM our
own recoectlons should be inclined to think that
flour has fallen upon the arrival of the English stea
uer unite as often as it has risen within year past
and the wear past has been very favorable one tor
the English market-and It's falls have also been las
ting and sure while its rises were temporary and nc
titious. The change in the English Corn Laws is
not intended to- and will not, benefit US partIcle-
in fact we doubt not they will actually decrease our
exuortaton of four as we'll tend to maintain full
supply in the English Markets which will keep prl-
ees low.
PUBLIC LAND AT AucrloN.-The government is
determined to raise the wind in some MANNER anu
now adyertises three millions of acres OF public lands
in the States of Iowa, Wisconsin, and FLORIDA, iol
sale at auction Thus, in full view OF the chance ne
offers to speculators TO possess themselves OF mano-
rial territories to the injury of the States and the OPP
preston of the honest settler, does Mr. Polk throw
the public domain together with the material and I'M
plements of Harbor Improvement, under the Auction
GERS hammer to raise money to meet his extraordi-
nary neutrality-suspicious. made where? Why,
"down South" in Mexico and Texas; In paying
the value of steamboats, for days service, In enrich
ing sayorites and cenqucring slave territory There
is nothing doing that calls fer any of this money at
the North, the section of the Union which con-
tans ninety nine hundredths of the inhabitants.
ur forts are ungarrisond our harbors are uDfortI
el ana unimproved our boat owners depend on reg
ular commerce for business the just debts
owed by the General Government to individuals are
refused, that the means may be employed IN prose-
cutting the wars of slavery and treason.
GA patron Of ours having damaged his mex
pressibIes in dog fight the other day came right up
into our Office and rendered them in payment for the
-. s.,,;...v ue ouoht to take them on the ground