New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-09-11
BRITISH CROPS AND YANKEE DEBTS.

Col. WEBB writes home to his Courier and
Enquirer, under date of London, oath ult., that
the British Wheat Crop is bountiful beyond all
recorded precedent and predicts that Wheat,
now worth sixty five shilliDgs per quarter In Lon
don, equal to 81 81 per bushel of sixty pounds,
will be selling before Christmas for less than
forty fire shillings per quarter, or hardly 81 10
per standard bushel. He continues
81 have never before visited the rural districts of
England during haryest-time, and have arrived at
the conclusion from all can learn from the oldest
'inhabitsst that the wheat crop, now being rapidly
secured without the slightest injury from the Occa-
siona showers which have fallen in certain districts
and slightly retarded the work is not only the greatest
in extent but the most productive per acre that has
ever been produced in the United Kingdom. Febru-
ary, March and April were the dryest months remem-
bered to have occurred in this country, and during
this period more acres sown with Wheat, and II
altogether better sn and got in, than on any
previous occasion. A good growing season followed,
az there thousands of acreslying contiguous
to each other which will yield upward of sixty bushels
TO the acre This greatly ast0nshed me, but in GER
tain districts this Is not an unusual yield here. IL is
unusual however, that this great yield should cover
so great extent Of country as 1t does this year.
The average yield per acre this year Is estimated
at thirty bushels and upward for England.
Let the poor of the world, and all who desire to
see money cheap in and about Wall-st rejoice
husbandmsn throughout the world such an abundant
return for his labor. The money market here cannot
fail 10 be favoraby affected by the abundant harvest
and this must have good effect on our money mar
ket 1t is to be feared however that it will only lead
to excessive mportations to DO followed by reaction
in the money market and the serious injury OF our
domestic industry. Nations, like individuals, cannot
over trade without paying the penalty. Payday
will come round; and when il does come woe TO the
individual or nation that has bought and consumed
more than be or they can pay for. Promises TO pay
whether in the form OF promissory notes, bills OF ex
change, Government State, or Railway Company
bonds, may put off the evil day for time. But even
they must ultimately be provided for; and they are
generally sent home TO be sold st the very period
when we are least prepared TO pay them. Conse-
quently we are always at the mercy Of a foreign
money market, and will so continue to be until the
Democracy with their Free Trade fallscies are driven
from power, and the Wings enabled 10 give the
necessary protection TO the industrial interests of the
country. The Tariff Of 1912 ON the single item of
Iron would have prevented our being debtor nation
this day; while the home com petition which Pro-
lection would have produced and fostered, would
have caused the price OF Iron 10 be at least thirty per
cent. less than 1t now IL. am no advocate for pro-
hibitory duties and only desire TO increase of
protection certain leading articles because they
are necessary to our complete independence of for
egn nations and because by such protection we in
we capital to go into their manufacture. COMPETE
tion-home eompetiti0n-follOws calling forth the
inventive genius Of our people aud securing the
greatest possible economy and the closest attention 20
detsils. The result always has been, and ever will
be, The manufacture Of better and cheaper article
thar we can import"
The above confirms our previous impression
that Europe will want no Grain of us this year at
such rates as will command tin fact, we shall
probably buy more Breadstuffs of Canada than we
shall sell to all the world. Nor can we sell Meats
to any extent, for Corn is the basis of Pork, and
we have hardly more Corn than we need for our
own bread and meat. Beef 10 also made in part
from Corn; and the drouth of July and August
has cut short the Fall Feed and thus diminished
our fall and winter product of Beet, Cheese and
Butter. We must therefore pay Europe, so far az
we pay at all, with Cotton, Tobacco and Gold,
since we make less Sugar than we consume, shall
buy Of British America more Timber than we sell,
and our export Of Rice--a small item at beat
will inevitably be diminished by the scarcity and
desrDess of Food.
Now our Cotton, contrary to the general rule
which afbrms that Cotton advances in price az
Grain declines in England, appears to be steadily
falling, though Grain also declines; and it now
seems hardly probable that we shall sell of this
years crop to the value of Seventy Millions of
dollars. To export Forty Millions of Gold in the
fiscal year beginning with July last, must test the
prudence as well as the essential sOlyency of our
Banks; add Thirty Millions more for Tobacco
and sundries, and our aggregate Exports for the
year are One Hundred and Forty Millions. We
believe that is the extent to which we can ship
safely and without ruinous loss to the exporters.
Such being our available resources, let US con-
slider the strain which they are required to bear:
That same Couritr and Enquirer Of Saturday
has letter from its Washington correspondent,
from which we extract a. follows:
"WAsHIsaros Sept. 8.
aThere yas A eurprising increase If revenna frnvn