The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-07-08
The News from Europe-Troubie among ulo
Flour Spectators.

Tho Euronean advices by the Caledonia have
o,vep all those spectators in breadsufis for an
advance. quietus. Many must be serious sui
saysre as fall like that realized, was anticipated
hv M one. An advance and decline following
each other so suddenly, must have caught many
nnprepared for the blast, which has swept over
them, and we fear has swept many with II to
bankruptcy and ruin. Prices for breadstutis IN
this market rule from three TO four dollars per
barrel less than month since, and there is not
the most remote prospect of probability that
they will advance much beyond ruling rates.
The only chance is an unfavorable change
of weather in Great Britain, and change
in the appearance of the growing crops
We do by no means consider these things
very improbable. The climate Of that island
is so very variable, and the injury to growing
crops is likely to be general in the event OF Its
coming, that we might as well be prepared for
any and every emergency. SO long as the crops
stand on the ground so long there is danger, and
not until the harvest is over and the grain
housed, can we make any safe calculations OF the
probable position of prices, or the probable ex-
tent of the domestic supply Our latest accounts
are favorable we trust they will continue So
The United States steamship Washington,
week. BY her we shall have eleven days
later intelligence, bringing dates from London
up to the 1st of July The season will then
be somewhat farther advanced, and'something
more definite relative to the crops will be
known. Until then we would advise specula-
tors to pause; and we would also advise those in
want of breadstuffs for domestic consumption to
wait patiently further developments, and the APP
proach of harvest, before supplying themselves,
as the chances are decidedly in favor of fur
Their decline.
The Improvement in the cotton market report
ed by advices to the 10Th ult, and the cause Of
that improvement, induces us to believe that our
next accounts will be much more favorable re-
lative to this staple than the last, and that
steady improvement in prices and in demand,
will be experienced The manufacturing dis
tricts were improving in activity, and there was
evidently prospect for a better demand for all
kinds of cotton goods the trade had been larger
purchasers of the raw material in the market in
anticipation of an advance, and preparations
were making among the spinners for brisk fall
business.
This state of things has been produced prlnci
pally by the fall in breadstuffs. The absence of
that depression in the money market which has
for some time past weighed so heavily upon the
commercial classes, has, in measure been the
cause Of the favorable change in commercial
affairs generally. The crisis is past-the long
agony is overland we are about entering upon
more prosperous times than have ever yet been
realized.
Speculations in breadstutis are about over for
this season, and spectators must find something
else to initiate, some other bubble to blow up.
Those who have been large losers had better
keep clear of all such movements, and those
who have made fortunes by the late rise in
breadstuffs had better withdraw from the mar
ket in time, if they wish to keep what money
they have.