Eastern times. [volume] (Bath, Me.) 1846-1857, 1853-09-22
The Flou8 speculation.

4uC Z 1VtH
The most imports news by far brought by
the last steamer fr&h Europe SO far as this
country is concerne& was that which related to
the great advance id the price of breadstuffs and
the opening of the French and Italian ports to
the admission of f9eign grain and -four duty
free. The Mark Zane Express which is the
best British authority in matters relating to the
grain crops, stateskthat the deficiency in this
years wheat crop England will be from one
fourth to one fifth that is, it will be about
1900, 900 quarters wheat, or 8 1000 900 bar
rels of flour below 4he average; the quarter
of wheat Of busheE of 20 pounds each being
about equal to two barrels of flour. This de-
fciency represents tfe supply which the Brit
ish must procure frah abroad during the COM
ing season, if the eshmate of the Mark Lane
Express is correct. 31eretofore their foreign
supplies of flour an&grain have been derived
chiefly frem Odessa and other ports on the
Black Sea, from thk Baltic ports, and from
this country. Greaf:Britain alone has gener-
ally taken the surplus grain product of all
these countries. Befthis year the wheat crop
In France, Belgiumk Holland and portions of
Italy has been quite as much below the aver
age as that of Engl5nd, and since the surplus
OF the grain growinacountries must be drawn
upon largely by all hose nations, the conse-
quence must be Walt increase of demand and
a great rise in prices3
The threatened SCARCITY in France is such
that the Emperor haSs issued a decree throw
ing open the FrenchspOrts to the admission of
breadstuffs from all Countries duty free for the
remainder of the yeafs-a measure which is on
ly resorted to in caseAof extreme urgency and
has not been previousB adopted since l846.-
The sum of So 900 ,0HD has been sent to Mar
seilles for the purchase of wheat in Egypt,
Turkey, Southern Russia and elsewhere on
government account. large quantities Of flour
and grain have also Esen purchased in Eng
land for expectation tosF'rance very unusu-
al circumstance. Thse King of Naples has
also in consequence the scarcity authorized
the free Importation Of breadstuffs into that
country To make niatters worse, the potato
crop which in many Hnropean countries is
substitute for wheat isSalso represented to be
very deficient.
The consequence Of this state of things in
Europe will be denapnd for the surplus -four
and grain of the UD4ed States, greater in all
probability than thatEof 1847. In England,
American flour has already advanced about
50 so per barrel from the lowest point or from
20 to 80 shillings. Al home the rise from the
lowest point has beeR about the same !; from
$500 to Sc, so per barrel. The supplies of
flour received from tie West thus far this year
are about 100000 BArrels short of those of
1852, but the wheat Erop of the present year
has been one of unukual abundance both here
and in Canada, ande the rise in prices will
draw out vastly incrSased supplies from the
store-houses of the Western farmers, many of
whom are rich enough, to hold their crops for
better market whenfprices do not suit them.
The foreign demand Gill add millions to the
wealth of this class. 81 The export of bread
stuffs in large quantities. will have the effect
Of preventing for Considerable period the ex-
port of gold which ND otherwise have gone
abroad to pay for our Enormous importations
of foreign goods. 1t Hlay even turn the cur
rent the other way aHn bring us gold from
England and France $n large amounts as in
1647. The price of frMght to Liverpool from
New York has gone Ap from 25 cents to
dollar barrel. A YM speculation in -four
will be one of the Consequences of the late
news throughout the csuntry, and in the ex-
citement prices will II carried to an undue
height; not improbabE as high as SO or
$3.50 the mark attaine&in l847. The specu-
lators who came in earW, and who are shrewd
enough and moderate enough to realize their
profits out Of the first ne, will do well but
the great mass who rug in headlong at the
tag end as usual, will affer and get their fin
gers badly burned. In be long run there is
nothing gained by flour %peculations, even bv
the Oldest and soundest #eads. The best cal
culations which can be bade in this business
are SO seductive, and at he same time so often
overthrown by contingeiN lies utterly impossi-
Bile to be foreseen, that lev have repeatedly
carried down by scores any of the Oldest, the
ablest, and the richie merchants both in
New York and London Hartford Times.
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