Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-04-17
nfrha1ro1nn 1s1atata'er-


NJ ina, wear. so as Ia u:ake up tour quarters, OF
tweye months We shall have even then an aver
ace for the Two years OF only At, 700 bushels
year"
A little further on he says: =,
sOur best. and in fact our principal trade WIN
The mother country, in The article IN question, mas
been through Canada. For the last seven years,
we have sent into Canada 1885,, S92 bushels o'
wheat while our direct trade 10 England at Inc
same time, has amounted 10 only I,'oi 300 ous".
els being 60 per cent more 10 Canada Than 10
England or, il we take the last three years.
we have sent into Canada 1895 GOT bushels; anu
into England 2O97,598 bushels, being more man
,lyee times as much into Canada as into Eng
land"
From all This he iniers That our exports are
very insignificant, as compared with The con-
sumption of this country. As far as The number
of bushels is concerned, the export IS compare
lively insignificant; but as far as It's effecis on
prices are concerned, it is mighty II IS me
price Obtained for The excess exported, ~h'ch
fixes the price of The whole amount OF produce.
The farmer consumes more Than hall his own
produce but his own consumption has nothing
to do with The price OF it. That depends up
on what he gets in The market for the surplus
The price OF grain in Virginia depends up
on The price in New Yolk, and The price there
depends upon the price in foreign counlrles-
A thousand facts could be produced TO establish
this position; but little reflection will satisfy any
one OF its truth. Whenever, in any country, there
is a surplus OF any commodity, whenever the
supply exceeds The demand, competition takes
place between The holders OF il until the price IS
brought down TO the lowest point. And so, on
The other hand, when there is deficiency OF sup
ply, competition lakes place between The buyers
until The article is advanced 10 very high price
And il does not require large surplus or deh-
cheney 10 produce this result. The rise or fall OF
price is by no mans in the rallo OF The excess or
deficiency OF supply. Very often, very small
surplus will cause very great fa and so "vice
versa" A more striking illustration OF this can
mol be produced than The corn trade OF England
itself affords MIR. Plat, in his history OF The corn
laws, says: "The average price OF wheat for
1885, was under 40s. the quarter, and alter ls39
il was eighty per cent. higher, or 1Os. ID;
I've, no one will assert that the crops were
nearly one-half below an average, OF even one.
fourth The deficiency in 1899 IS not estimated
as more than seventh, or, at the utmost, one
| fifth vel The prices rose TO nearly double that
amount" This was the effect OF The increased
demand in England What was il ON The CONT
nenl7 The same author says: "ln 1888, alter
we had Tor several years nearly ceased resort
:, ing 10 the continental markets, We again became
| extensive purchasers. Before this necessity was
fully apparent, The price Of wheat al Dantzic
: was as low as 24s Id the quarter, but in The
course Of the year prices advanced 10 6ls 3D. be-
9 ing rise of l5f per cent, oecasioned by the
demand in England. Al Amsterdam The rise
was l3l per cent"
! The New York Price Current and our COM
mcrca document show he same result in this
country, flowing from decreased demand In
ls4e we exported 7237,96S bushels Of wheat 10
/ all the world To Great Britain direct and
through the Canadas, 1868 SD; and the price
| 10 New York was from 81 25 10 81 %. In lS43
we exported 10 all the world 4,5l9,O55, being
falling of in The export Of 2,7l6,9l3. To Great
i Britain, direct and indirect, ourexport was &c.
522; being less by 2352, O22-Eeary the entire
falling off being in our export 10 England; and
the price in New FORK was from ninety 10 nine
~ five cents The falling of 10 the export was
crop, and the fall in price was forty per cent.
Blu, il is unnecessary 10 elaborate th, point.
We all know with what anxiety, small as is our
expor, 10 England in comparison with our entire
product of wheat, the farmers look out Tor the
news OF the character Of The English harvest u
! IS fresh in The recollection Of all OF US how prices
OF agricultural produce advancedlast autumn, as
soon as il was asccrtained that the English crops
were short
Having thus seen that The price Of grain in this
country will, 10 very great extent be regulated
The probable price there under system Of free
trade in corn. We have already seen that the
average price Of wheat in England for The ten
| years ending lS45-mos Ct which period was
one Of good harvesls-has been SIS. Id. per
quarter, or about 81 rs per bushe
We have also seen that The average price on the
continent, for The last three years, when the de-
lnand in England has been comparatively light
was ass. the quarter. All charges added, would
i = n Tn lap "A
tor the last ten years. have read all the debates
| in Parliament which have taken place on this
subject in the last few years and also most OF the
authentic and valuable publications. And no one
whose opinion has any authority, or who gives
any substantial reason for his belief, has sup
posed tha, the general average, under free adj
mission OF grain, will be less than il has been for
the last ten years; and in years OF scarcity, il is
admitted it will be higher. Take the general
average of 81 IS per bushel, and lei us inquire
what will be the price in New York. | an, in
formed, upon good authority, that The freight from
New York 10 Liverpool is generally Ia cents per
bushei and That the exchange between this coun-
try and England which is generally about per
cent, will cover other charges. The gentleman
nsm Massachusetts (Mr. Hudson) estimates The
freight 6. from II 10 l6 cents per bushe, and con-
cedcs the exchange 10 be 10 per cent. But 10
avoid all cavil, will put down The ireigh, and
charges, 10 addition ~ The exchange, al 20 cents
per bushe which, with the exchange, would be
80 cent, per bushel. That you'd leave the price
on the board al S. So per bushel. The freight
from Chicago 10 New York is 81 cents per
bushe from Detroit %; from Buffalo %. In
dian corn is generally little more than half the
price OF wheat and oals little more than half
the price oil corn. The New York price current
Of this morning quoles corn al G5 10 69 cents;
wheat 81 IS; oats 40 cents. Now, Sir | can
say, that as farmer, want no more prosperity
than | can enjoy with 81 So, or even with
steady price OF 81 % for my wheat, hall The
price Tor my corn, and half the price Of that for
my oats. And that, al least, shall enjoy and
believe more, il Congress will only give the agri
culturist "a fair field, and no favor" This is all
ask from them. Surely, surely, as they COM
pose the great mass Of our population, | have
right 10 ask that
The gentleman from Massachusetts (Mr. Hud-
sonl says the labor in The grain-growing coun-
tries OF The continent Of Europe is cheaper than
with us; and he insists that they will be able to
pndersell us not only in The English market, but
even IN our own, il the duty on wheat were re-
pealed. He refers TO the tact, that in 1887 we
imported 2,Se9, l03 bushels Of wheat more Than
we exported and he asks the independent yco-
many Of the West If they
"Are willing to be brought into competition
with the down-troddeE Poles and scrts OF Russia,
and so be compelled 10 labor for fifteen or twenty
cents per day2 Would devotion 10 parry, or The
satisfaction Of following on, the delnsive theory
OF free trade, reconcile them 10 a condition 80
degraded If they possess The independent spirit
OF freemen-if they are Amercans-lhey will
spurn such an idea"
Can any thing be more ridiculous than all this2
! would not deign 10 answer il, il had not found
lha! as absurd !allacies have heretofore, TO some
extent, received credence
Isl. AS 10 the import Of wheat in 1887: that
was owing 10 variety Of causes, which then, for
the first time, and il is 10 be hoped for the last CO
existed. During the years 1884, 1885 and 1885,
there were succession of good harvesls in Er-
rope. In 1887 the summer in Europe every
where was warm and genial, and the crop was
uncommon!y abundant. 10 August, 1887, wheat
sold in Hamburg for from 22s I'D 10 29s. 4d. the
quarter That was The era OF paper expansion
and wild enterprise in this country. The paper
bubble was then at its extreme imitation, and
reckless speculation had usurped The place of
| regular industry Canals railroads morns mul.