Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-02-17
THE GRAIN MARKET OF THE WoRL]


But three years since we were assured THAT Europe
was TO atlnrd US market for almost countless millions
OF bushels OF wheat and corn If the energy of our
own people,. said the then Secretary of tue Treasury
can add $4l 3323S2 to The export and supply of our
breadstuis and provisions in single year, what could
they not add to such products ihey enjoyed free ofdu
ty the markets OF the world :" An increase of domes
tic exports similar to that which had then taken place
in consequence OF the famine in Ireland might give
was supposed in the ls49 OF not less than
three hundred and ttcenty nine millions of dollars; and
yet have reached the year 1851 and export
ing less cotton less food and less tobacco than we did
before that time. That have less food to export is
anly most fortunate Tor farmers for there exists
no market abroad nor is it likely to exist We have
now before the London Mark Lane Erpress of last
month, by which il appears that the average prices OF
wheat throughout the kingdom range from thrty-four
to forty shlngs per quarter oil five hundred and forty
pounds, or from ninety cents to dollar per busfel.--
Now admitting that the antcipaons OF the late Secre-
tary had been realized and that we had now this large
quantity OF food TO send abroad at what price would it
sell! Would II command, in the market of Britain,
even thirty shhngs per quarter seveny-ve cents per
bushel ea'ng Tor the farmer even fifty cents heiel 1t
certainly would not His anticipation have not been
realized, and have less to SELL and therefore prices
maintained; and this regarded by him. we doubt
not as evidence OF the soundness the theory which
was based his alteration OF the ta OF 1876 SO is it
with all these En- lish economists Their predictions
are never realized, yet they never dsheartened-
British Tree Trade must he right, however wrong they
themselves may be- We are now importing enormous
quantities oil food, in the form of mon and we can ex-
port scarcely any to pay for and this ssupposed to be
the process by which the farmer is 10 high prices
for his products aud obtain his iron cheaply In Ohio
says OF our exchange papers, cone thousand two
hundred square miles underlad with iron. region
explored in 1898 would furnish iron sixty-one miles long
and six miles wide; square would yield 5 200 600 ons
OF pig iron; that This district would contain 900
600 600 tons, which would last 300 years--as long
distance certainly any man looks ahead The
States OF Kentucky, Tennessee, Indiana Illinois, Mary
land and Virginia possess neXhansibe quantities OF iron
ore"
And yet Ohio, Indiana and Illinois, which have on
y food to sell, rendering themselves daily more and
moro dependent for iron upon distant country, in
which wheat sells at from ninety TO dollar per
bushe aud in which IRON will again sell for ten pounds
per ton when the remainder OF our furnaces shall be
blown out as they are likely TO be- Our far es
who have food to sell are daily diminishing the compe
toa Tor the purchase of their products and for the sale
OF lIon the result Of which inevitably be- and tina,
ere long, cheap food and dear iron --RepubHe.