Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1853-11-02
The Eeastern QuestiOn-Markets

The Eeastern Observation-Disclosures
A correspondent Of the Courier and
Enquirer, writing from Washington, un-
der date of Oct. 8 discourses as follows
concerning the Eastern question, and
the grain scarcity -
"The recent intelligence from Europe
DEVELOPS the astonishing resources of
Russian diplom acy. Nesselrode has de-
tached every ally from the support of
Turkey-has separated Austria from the
the coalition of other European pow
ers, has sown the seeds of diss ntion
between France and England, and has
rendered the conquest of Turkey al
most a matter Of certainty. The fanati-
cism of the Turks will conduct them to
calamity, and bring their en-
pire in Europe to close.
sThe existing excitement in the -four
grain and'provision market is inevitable
from the state Of things in Europe. 1t
may be now confidently established that
the present is year Of more prevailing
scarcity in Great Britain and on the con-
tinent than 1916 or 1847. Taking all
our crops of edi5les together, it has
been with us, in the United States, a
year of average productiveness. To
what height will flour go? How much
Of wheat crop Is surplus How far
will our abundance of Indian corn be a
valuable for the supply of the deficiency
of food in Europe? These are ques-
tons of far more pressing interest than
those social and political problems which
engage SO much of the attention of
newspaper readers. l have before
shown that the exports of wheat and
flour will be in all probability less
than the European demands upon the
United States, and the market for our
Indian corn and corn meal will be limi-
ted by the important fact that the peo-
pie Of European countries are not much
acquainted with it as an article Of hu-
man food, and are almost universally ig-
norant of the modes of preparing it. 1t
seems to be quite reasonable to calcu-
late upon the highest price for -four and
wheat which has been obtained since
1887, if not as high as has been obtain
ed since 1887, if not as high as has pre-
vailed at any time since the war Of
1912. Two dollars bushel for wheat,
and eleven or twelve for -four, will not
surprise me, nor would one dollar and
quarter, in the Eastern markets, for In
dian corn.
'In 1887, the average price of -four
was about eleven dollars per barrel, but
this was not only year of bad crop and
scarcity in the United States, inasmuch
that wheat was even imported into the
country, but it was year of Inflated
prices, resulting from excessive issues
Of bank paper. In 1S43, -four went
down to $500, and in 1852 sold lam
guidly in New York for $4 per barrel.
We all remember that l843 was a year
Of unaccountable monetary depression
and stagnation; but in 1862, when -four
was lower in the principal eastern mar
kets than it had been for fifty years,
money was abundant, labor was high,
and all business enterprises were in
tensely active. These facts show the
vaccillation of our domestic markets for
breadstuffs, and how necessary foreign
demand is to keep up the price. Even
from 1884 to 1848, including both
years, period which comprised the ia
mine years of 1916 aid AT, the aver
age price of -four was less than it had
been for fifty years before. The reason
was obvious. During three years and a
half out of the five the demand was con-
fined to the quantity required for do
mestic consumption, and the price ran
ged from $500 to $4,75 per barrel, but
the export price during the famine was
from ST so to $10,75.
"The corn question and Eastern ques-
ton are closely united. Should war oc-
cour, by which the outlet of the Black
Sea on the South, and the Polish prov
ces on the North would be closed, the
United States will be the only source Of
supply for half of Europe, if we except
perhaps, Egypt, from which but small
amout Of wheat can be expected and,
in that event, we shall &c: for our sur
plus provisions whatever prices the con-
sciences of our farmers and exporters
will allow them to ask"
DEEP SEA SouNDINGs.-The United
States Surveying brig Dolphin, has COM
pleted perfect line of seundings acros S
~ M ~