The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-12-01
state OF Trsde-rhs Prospects In KeIstioa
Go the spring Basine...

The remnnerating pricss which have Tor some
time past ruled for our stapls agricultural pro-
ducts, and the extensive foreign demand that has
existed nr several months, have placed the largest
slass Of consumers in this country N a very pros
porous condton We have. during the pas,
year. been large sellers; we have sold mueh more
than We have bought, aud we. therefore, have
the means TO become large purchasers. The
balance of trade between Ibis and foreign coun-
tines is largely favor. and the tme is not far
distant when shall be in the market for the man.
fractures and produces Of Europe, and require
large supplies to meet our demands The course
ofuade 20 far this year has been such as TO turn
the tide OF precious metals 70 our shores,
and We have no doubt but that within the next
six months the importation will reach tea or fl
teen millions Of dollars.
The introduction OF such an immense amount
af specie into the country, will have tendency
to initiate tho currency, by increasing the paper
issues of the banks, aud an initiation OF prices will
naturally follow. An expansion OF the currency,
and al advance in prices, will lead to a veryg great
extension of business, and large importation of
foreign manufactures, both on domestic ard TO-
reign account and ultimately to an expectation
OF specie TO greater amount than that imported.
We do not look upon these deviations from the
regular course of trade, in favorable light as
they invariably lead to arrangement in all the
departments OF commerce, which we are unable
to regulate for a long time.
large importation of the precious metals M
Vanably leads 10 eXportation of large
amount, at a time when we are little able to loose
It, For every dollar of specie brought into the
country by the balance Of trade, two dollars 20
OUT. Wecannot calculate upon commerce with
Great Britain for any length of time similar to
that we have had during the past two years, un-
less the harvests OF the United Kingdom should
continue to be deficient This we can by no
means depend upon, although we have no doubt
but that our agricuturists will extend the cultiva-
ton Of the principal grains, for the purpose OF
meeting any foreign demand which may arise
The supply of breadsturs is, therefore, likely to
be sufficient for any emergency but in the alb
sence OF an extensive external demand, prices
must fall to runous, or at least, below remune-
rative point. An extensive demand for an article
IS sure to lead to an increased production, and
unless the demand continues large, there must be
IN over supply.
The production of all kinds of grain in the
United States, another year, provided the season
rs favorable, will be immense and in the event
OF the harvests of Europe being an average it will
be difficult to tell what level prices will reach.
At present every thing wears very prosperous
appearance, and the condition of the producing
classes has been so much improved by the pro-
fioble business of the past two years, that a very
extensive demand for the manufactures of Europe,
and the necessaries and luxures of life generally,
will be experienced next spring, which will stimu-
late importations 10 a great extent.
We shall have glorious times for at least twelve
months. Then look out for breakers. The COM
mercial classes are at present in healthy condi.
ton, but we are fearful that they will soon become
diseased.