The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-04-14

last year, this year it is still less-the quantity
OF Hour exported from the first Of September Ia
this date being now t,ccnty per cent. less than
that OF last year. How it is likely to be in flu
ture may be judged by our readers when they see
that the advlces by the africa give us farther
continuance ofthe decline brought by each success
sive steamer for weeks past. The tendency fthe
market is stated to be still downward. Wheat
has declined I'd. to Sd. bushel, and dour 8.
a barrel. Foy the latter anxious purchasers
were, we are informed, to be found at los. a
barrel! -Four dollars and fifty six cents bar
rel in Liverpool, freight, duty, and commission
paid. was the price at which flour could be sold
in year in which ga terrible scarcity" pre-
walls over one large portion of the continent,
and when the grain crop of Russia had been so
short as to induce her to prohibit its exporla-
ton! Such being the state Of the foreign mar
ket, is it wonderful that -four now sells in New
York at four dollars and quarter; and, if such
continues to be its state, will it be wonderful if
we see it decline to point far lower2
We would beg our agricultural readers to
reflect for moment what would be now tho
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occurred, and determine for themselves if it
would not be at lower point than it has seen
for twenty years. Next, we would ask them
to reflect what must inevitably be the effect of
future large crops, and to determine for them
selves if they are not now pursuing course
tending to the establishment of lower prices for
grain than any we have ever seen. 1t is quite
clear that there exists abroad no such market as
Mr.. WALKER hoped for; and yet we are dailv
closing our mills, our mines, and our furnaces.
that we may purchase foreign food in the form
of lead, cloth, iron, and hemp, and driving our
whole population into agriculture, that thew
may produce food for market that it is now
demonstrated has no existence, even in wears
Of scarcity.
The repeal of the Corn laws was claimed as
great boon to our farmers, in consideration Of
which we were to abandon the idea of MAKING
market at home for our food, converting il
into cloth and iron, lead and hemp, and WOOL
and yet no one, We believe, can examine into
the operation of the existing system without
being satisfied that it was the worst measure
for them that England could have adopted So
long as the demand was only occasional. the
advantages that we possessed in our canals
our railroads, and our ships, enabled us to ap-
pear in market more promptly than other ma
tons. and our regular product was always suf-
hclently large to enable us to share LARGELY If
prices warranted us in SO doing. Now, all Eu-
rope is engaged in growing grain for England.
and all Europe is making roads by which u,
carry 1t to market The last steamer brinos no
notice of new road in Russia, the sole
object OF which is the aclitation of the
transport of grain to the Black sea: and
thus II Is that the cheap labor of Russia ia
gradually being placed in position to compete
with our dear laboT--the inevitable effect Of
which must be that both must meet on The sam.
level, and that unless we do fall TO that level VIZ,
must abandon altogether the idea of supplying
England with food. In five years from this the
facilities OF the continent for supplying that
country will probably be twice as grea, as now
and there exists no reason for supposing that
the population Of England will be greater than
1t is at this moment. In those FIVE wears we
shall have added one-half to our food PRODUCING
population and, taking into consideration the
saving of labor resulting from the making Of
railroads, the increase in the surplus for
which foreign market would be needed
should be several hundred per cenr. yyha,
then shall be done with il? Is it not clear
that, If we do not create a market at hume
our farmers must be Tuinedl We should be
glad that some one Of our FREQ trade friends-a
sincere believer in the advantage Of our present
revenue system, under which we buy so much
food and sell SO ltile--would take I'D the facts
of the case as they now stand, and explain by
what process We are to be enabled TO maintain
any trade in food whatever, except il be by aid
of such a reduction Of prices as must TO an
enormous extent diminish the return to labor,
and to still greater extent the power to con-
sumo iron, cloth, lead, OF hemp-ihe articles
that under the tariff of 1912 we made. and
that under that Of 1916 we buy and paw for.
not with food, but BONDS.
The commercial article of the New York
Journal Of Commerce, of Monday evening.
furnishes the following statement. which. il
will be seen, corroborates the view Of the pros
poets of our farmess which we have put for
ward in the above remarks. Bearing in mind
that the Journal Of Commerce. is one Of the
leading organs Of the free traders in this coun-
try, the admission we have italicised possesses
great significance. The writer rs evidently in
a dilemma in regard to the causes Of circum-
stance which initiates so strongly against the
prophecies Of his party:
:" MONEY MARxET, MospAy, April IL.
"Tbe market IL again active, at low raics of in
tercst for loans, and at higher prices for almos,
every description Of property, IL we except sorno
articles Of produce Why the latter, particularly
brcadstuffs, should not share in the general buoy
ancy, IT is difficult to tell. There has been il is
true, a large crop throughout tho West and South.
and tho surplus stll hand in the interior s very
large; but in Germany the supply is short, and
there has been fair demand from Great Britain,
while the low prices of the last year have increased
the consumption both at home and abroad. The
stock on the seaboard ia comparatively light, and,