The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-07-23

Cons for yr2saasi ses4s9 400 l79s aes 1855 s9le4
Now, when reflect that England in excess of her own
supplies consumed last year this quantity OF for
egn grain, equal the ,choe Whcat Of the United
for 1S4O reported by the begin TO real
ize the OF her wants. particularly when we re-
feet that her grain crops were good and that the large I'M
Port was insufficient keep numbers from starvation
The great of this deficit is in the peculiar nature OF
the potato culture has been ascertained by scientific re-
Search that nbou lbs of potatoes are equal to b' OF
wheat as human food According the English averages
of good land will produce 20,l6O lbs OF potatoes
or $50 lbs OF wheat therefore, as lbs oil the former are
equal h. of the latter of potatoes will support
three times as many people as one OF wheat!
Since the peace, the culture of potatoes has been greatly
extended, food for the manufacturing and labon2
classesas every put in with potatoes equals three
sowed with wheat. The increase OF the manufacturing
population that of Ireland has not produced any extra
demand for wheat hence the apparent anomaly that whea
has falling in price under steady currency, with an
increasing population The best estimates make the guam
tty land planted with potatoes last in the United
Kingdom 600 acres which, the average OF tons pei
acre. produced 30 100000 TONS OF this, nearly wo-thId
persisted by the rot in 1856 leaving estimated quantity
of IL 900 600 available food The effect OF that en-
tensive failure abandonment OF the crop to some
and it is now estimated that I0oooOo acres IN
OO0 planted tor the present year. These
would yield of sound 200 900 TONS % cent less
than available last year There is no doubt however,
but that oneaf of this amount will perish, and that the
deficit will be 5000 900 tons, from the available quantity
last year; equal food the product of 600 acres
wheat If the potato crop is entirely abandoned, will
require TO- 900 of wheat supply the same food
that was the shape of potatoes got from 600 acres
The Withdrawn from potatoes last year most
" put down in green crops and spring corn which have
checked the demand for grain in the summer months, and
aided produce the late fall in price, but will not furnish
food that will be available later in the year The stock
with which England commenced the last year was equal
the product of acres and she has now none Oh
hand
These are some of the chief circumstances that indicate
the course grain trade likely take for the coming
| ND he mbered
said in relation the potatoes OF Great Britain applies also
to Europe. We also to remember that with
the stock hand and the imports England consumed NJ
January, 1892 59l qrs, and that the navigation OF
northern Europe will close, to prevent her realizing
much from the crops before next spring There are
stocks in northern Europe, and the export has been pro-
hibed in Sweden and some other countries 1t has been
supposed that circumstances would diminish consumption
that is to saw that the modified expenditure the railroad
would check the outlay for food that the high prices would
have the tendency that the cessation OF the pub
lie expenditure in Ireland. together with emigration and
deaths by famine and plague, would all cause less con
SUMPTION But if reflect that the enormous imports 81
last year did those caames which are thought to
diminish the demand this, cannot anticipate much ct
feet from them Those who died OF Starvation certainly
! did not much increase the demand for food
The increased export OF cotton and produce has caused
decline in bills, Notwithstanding the large lmportaons OF
goods which keeping the importers very busy bui
the quantities specie that SOUTH at this moment rather
exceed the receipts the country IL is little curious
that many the bank organs charge upon the independent
the necessity of sending specie to New Orleans
when il wanted there. Thc banks say they have specie
everywhere" Ifexchanges in favor OF New Orleans,
mud pece must go will be sent there either by bill hold
ers bv banks or in present by the government
In October 1872 the banks of New Orleans held 81 6Oi
66l of specie. May, 1874, they held S9,9S,O52-an in
crease 900 in eighteen months In the year end
ing September lS43, the import OF specie into the country
was S22 and there was received al New orleans
$40 3g5 $780, which mostly sent there by New York
banks brokers' by ship and by express The govern
ment had nothing do with it. Trade required It, and
trade carried there. This exchange is IN iavor OF
New Orleans that is bills New York there at dis
count The department which collects its money in New
York wants ~ Orcansot in the way oil business out
for extraordinary war expenses If should put $5O00O 900
ofblls or less in that market it would interfere with The
current of and njurc the sale OF mercantile bs
which would require sell low that brokers might
buv them to send to New York-tawng the specie from
the vaults here sending by express at cent to their
own profit Instead OF this, the government, without III
any way disturbing the regular current of business sends
on its specie its The sales oil private
bill. are injured by government competition and yet
this is called 'humbug" The banks think there is nc
humbug' in lending them the money without interest," aud
taking their promises pay out to the people The latter
are inclined think there is some "hunbug in 1t, how
ever.
Since the news the cotton has been active for
port vet the stock here still largcsay 1858 bales,
against 57675 last year. The sales since Saturday are
about 10, 600 bales, as followsh
ordo Mid,o TO-, Mid ,i fair u Fully sdHs ii
INLAND and rors. sSSa god MD y '
Mobile nd NO, ioi all HAIL "a ai2i ias IA
In -four, the took effect Monday, showing de-
cline s7h which. hewever, exporters came
in freely say So for mixed and straight and 50 2
a SIS lsi for Genesee. Since then the market has been
firm, although the weather is and stocks
large and good deal of the Michigan and Ohio that ar
rives is first order, and sold freely. Sales
Ohio and Genesee good straight brands S. 37h Genesee
is in good demand SIS 25 and holders ask more