Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-08-05
Published every Thursday
The Fall Of Prices.


Our WING editors seem To have regarded the recent
fall Of prices Of breadsufs as special Gcd-send to
them. They have exulted and chucked over it. not
because 1t indicated any degree of relief to the starry
ing millions of Europe. for whom they express
word OF sympathy, but simply because il seemed to
offer them chance argue in favor of. and per-
Petuate their exploded humbugs of protection and
restriction" They suppose that the people will be
credulous enough to believe that open markets and
unrestricted trade arc not only TO establish high prices,
but to keep those prices permanent That these ends
are to be accomplished without regard to times
seasons or to favorable or unfavorabe crops at home
or abroad,-without regard to of conveyance
to market, including tue condition of roads and tie
prices of freehts and without regard to the .'moncy
market, or the gambling operations of spectators,
any similar contingencies by which prices are lessen
ed or decreased. We are not solicitous to deprive
these shallow gentlemen of any triumph, real or i'm
aginary, which the present change of prices may
afford them. They welcome to enjoy it, and profit
by it, as much as they can. Their triumph and Joy
will be shortlived, and the ultimate disappointment
which they are certain to experience, will punish
them sufficiently by increasing the bitterness of their
own shame at their own folly. These whis editors
and politicians whose opinions the result of preu-
dice and not Of logical deductions from established
facts atter themselves into the belief that famine
alone has been the of the late demand for bread
stuls for expectation, and the consequent high prices
That the short crops in Europe occasioned larger
demand than otherwise would have occurred, no one
disputes; but that the abrogation of the corn-laws
and the reduction of tariff have been largely in
strumenal in enabling supply the foreign demand
to a much greater extent than we otherwise could
have done, is equally true Nor is the demand for
our breadstuffs, under system of comparatively free
and untaxcd trade, likely 10 cease though no man of
common intelligence needs to be told that the prices
of our produce will be liable always to be affected by
a variety of contingencies at home and abroad As to
the probability of a continued demand, notwithstand-
ing the recent fall of prices, almost amounting to
panic, we have doubt whatever. The following
facts and statistics, from the able commercial cores
pendent of the Washington Union, our readers will
do well to consider. They are worth cords of the
miserable clap-trap of wing editors:
Down to the receipt of the news from England TO July
4th there abundance and cheapnesS Of mOney-an
increased business in the markets generally, with improving
pees but with very few indications of speculation The
of the such great fall in
prices of produce breadstuH particularly involving the
sioppage OF few flour dealers of great importance
ever Cotton favOTaby affected by the news il
has sold freely for export at advance Of cent. The
stocks Of breadsus very large and the adverse market
for its SALE together with large imports Of goods added
the chill the threw upon the markets generally,
duced little active demand for for day
The duties paid into the customhouse for The week
ending the 18th inst, amounted TO S575357, Of
S2i5,345 last year. This of itself important
demand for money Ia the last few days the markets
recovered sOmewhat the demand for money less and il
can be had again four per treasury notes.
Indeed, loans that had been called in under
sion that money would be wanted subsequently, allow
ed to remainhe demand having subsidized Cotton going
freely fo ward, ami the fall IN prices has stimulated the
ports Of other produce advanced eights and caused bills
decline aud the chances that renewed import of specie
will take place Indeed, Britannia $780,
00O-the result probably of easier Of London
market.
At the latest moment in London the favorable
that had been entertained in relation the harvests
prospects for the coming year dying away aud
appeared 10 be gaining ground The stock and money
particularly disturbed by
of Lord John RUSSELL that the lush potato in
Shng state The Of information subject so
important possessed by the minister, makes his
great weight and cODsos fell The position of Great Bril-
tain is indeed far from sound As instance will take
from official statement Of the stock of grain and
four reduced grain, warehouse June s. bullion
in bank, as compared with last year.
Stocks Of breatstyS in The United KingdOn and bullion in
bank. June D.
Wheat Oats Corn Flour Total all Bullion
qE. qrs. qIs qrs. kinds, qrs.
1896 An 922 1906 2T73 81 Psi 22267O 339 72C
ls47, IO,7SO 3.s49 1905 sos 1854 lO.5lI 5s7
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