The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1847-05-22


several weeks ago. Il has been extensively
copied by the papers. We ask she attention.
of our readers TO it.
From the National Intelligeucer.
THE WHEATTRADEO OF THE COUN-
TRY.
1Leiter 10 Hon. .lT p. Gentry gfTeHneSsec.
SIR:-ln answer TO an enquiry you pro-
pounded to me before we left Washington,
will now proceed TO state the causes which
have contributed TO raise the prices of Our
great agricultural staples, and TO enable ustq
send mn M usual quantity abrOad. In the FIRST
place. il should be remarked that no articles
in the market are so fiuctuating in their prices
rs the products ofthe soil. Wheat, which sold
in our ports in 1894 for from 81 TO Ito per
bushel, in lS37 rose 10 s so or so, s. in two
years the PRICE came down 10 ) 10 per bush
81. We lave seen within the last three
months -four advanced 20 per cent. within
two days after the arrival of an English
steamer. Potatoes in my immed date vicinity,
which usually command about % cents per
hushel sold readily last autumn for aCcts
Now we look in vain for such variations IL!
the prices OF manufactured articles. Tie M
PRODUCTION and Improvement of machinery
have brought down the price OF maniItac-
lures: but when the price is once rednccd d
rarely comes up agnin 10 its former standard.
The law ofsupply and demand. which gov
erns prices, applies with peculiar force TO all
articles of provision. The demand for food
is always more pressing than that for cloth
ing--as "a man can wait longer for a new
coat than he can for his dinner. The supply
ofagricultural products is interrupted hy
more unforeseen or agricultural causes Ihni.
any other supply. The character of the sea.
son, u superabundance or lack of rain, a late
or an early frost, blight or an insect. may
greatly impair the crop; and as the denald
is always immediate. the price will suddenly
advance.
Many cfthe products of the soil, such ns
potatoes and most ofthe common Vegetables,
are so perishable III their nature, that no sup
ply can be kept over from years of plenty
The supply of agricultural products is annu-
nj whereas most articles ofmanufacture cap
be produced ut any time. Ifthere is a search
~ ofcotton or WOODEN goods, and the price
goes up in consequence, the manufactures
will make an effort tc furnish larger quanti7
~ than Usual, and so meet the demand Mt
once. But # there ~ Il scarcity Of bread
stutfs. no effort of the farmer can increase
the quantity till tFfe next annual harvest. AL
these causes contribute to render the price of
provisions more ductuating than the price of
other articles.
There are causes in this country whcb
have tended to raise the price of breadstuttzH
The wheat harvest of 1S45 was less shan "
average, owing to TIE long continued drpNghtt
which was experienced through large sec.
ton ofthe wheat growing States. Nor has
the product of,Whent for the last three years
kept pace with the increase of our poPulu,
ton. The failure of the potato crop in tbs
Northern Stntas and the increasing Use 81
wheat among all classes ofour population
have also contributed TO raise the price Of
-four. The Mexican war has likewise crea-
ted new demand for bread and mcat.--
Those called into service arc: generally taken
from agriculture; and, besides, u soldiers m
tons amount 10 nearly twice as much meat
and bread as they would consume in civil SCI
cety, where they had the usual variety Of veg
etables and other articles found upon almoe.
every table. All these causes have had Gii
effect upon the prices of grain and meat. y
should also be remembered, that it is u tEca
principle in the law of prices, that n small de
ficiency i'll the supply will affect the whole
commodity in the market, and increase the ny
gregate value far beyond the worth of the
deficit. We have, therefore, causes at home
which would naturally improve the prices OF
bread and meat, if left TO themselves.
But the principal cause ofthe rise ofbread
in this country, is she uiuJual demand for
the English market THIS demand has been
created, not by any change in the English
corn laws, butby the failure of the crops, NOT
in Great Britain alone, but throughout lIu-
rope. We learn from the best English att
thorities, that the wheat crop in Great Britain
| iI 1S46 was considerably below an avcrage