The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-03-30
From the Philadelphia Chronicle.
Flour GTain-The Foreign Demand, and the Do
nestle Supply.

The two latest of the arrivals from England have MOI
produced marked decenslon in the prices OF grain
and -four on this side OF the Atlantic at FIRST
peced The published reports of the state of the Eng
lsh markets Indicate moderation OF prices. Flour was
about two shlhngs and six pence per barrel lower than
when the Cambria sailed-sone twenty days before,
and had been four shngs lower in the interim. When
the Hberna sailed however, the prospect was OF st
farther increase OF prices but not 10 any considerable eN
tent Such the and substance OF the published re-
ports. But private letters by the hberna speak some
what differently OF the state and prospects OF the market
Some of them predict speedy rise in the price OF flour OF
three or four shngs per barrel upon the prices quoted
AT the sailing OF the last steamer and such representa-
tons this have been relied upon here, and thousands
of barrels of flour. and thousands of bushels OF grain
have been contracted for on the faith OF them
1t was supposed, short time ago. that the opening OF
the northern navigation would have the effect OF lowe
ing the prices of breadstus in the Atlantic cities This
favorable symptom has been pretty well orestaled, how
ever, IN two ways First by the Intervention OF agents
and spectators along the northern and western routes,
out Tor the purpose OF contracting for and buying up grain
and flour; and, secondly, by the many subsistng
tracts lately entered into between dealers and shippers TO
furnish large quantities OF those commodities IN the
months OF April and May at the present market prices
So that whatever may be the increased supply which will
be brought into market by the northern and western
routes OF railroads and navigation it scarcely produce
such uctuaton In the market prices, as was lately
hcpaed
Ii there is anything, therefore, in the suggestions upon
which contracts have been made Tor the delivery OF grain
and -four three, FOUR and weeks hence, at present
prices, the foreign demand will be nearly, If not quite
equal to supply 1t has been estimated though we
know not with what degree OF accuracy that ten millions
OF persons abroad will be dependent upon supplies from
this country until the next foreign crops brought TO mar
ke! Now, If this estimate be made upon correct data,
il readily be that there more chances that
the market will continue under the dominion of the pres
high prices than that lower will take their place
And when it is remembered how much the supply has
failed in all parts of the United Kingdom and upon the
continent, and the vast population who reached by
the failure it may readily be realized that the demand
upon this country must in the nature OF things, be very
great.
These chances have been narrowly scanned and care
fully estimated both sides of the Atlantic and millions
the faith OF conclusions thus arrived at Flour and grain
now constitute the great commercial speculations of the
day. and fortunes will be made and lost ION them with
in the next four five months To render these specu.
laons successful possible every effort will be made
to control, and keep up the market prices of those
modIes. And the success of those efforts will depend
very much upon the ability of the spectators to control
the markets. by immense OUTLAWS OF capital and sagaclous
management TO their shipments We do not complain,
however, for the demand supply and prices which the
failure of foreign crops has called into action, combine
for our great benefit and advantage. To this cause we
already indebted to considerable extent Tor the
parave abundance OF money which found IN the
camille circles; for heavier spring business than could
have been reasonably anticipated and for the prospect of
still heavier demand upon the eastern cities, in the fall
for merchandise. The drains of money made by the gov
eminent for the purposes OF the war, and which, under
other circumstances would have been seriously felt have
thus been than supplied by the returns from
shipments of provisions 1t has happened opportunely
and Is great desideratrm TO this country.