The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-10-02


discusses his subject. He contends
/. That the press is misleadin the public
with the idea that the crops If the great corn
growing States approximate an average.
9 That considering the circumst inces az
fecting prices throughout the world the pre-
sent prices Of gain are very Low, an the
general rise of prices is not spec ulative or
transitory but permanent and p gressive.
3. That immigration and the immense in
crease of the population in our large cities, over
the increase in the country, largely contribute
to advance tie prices of thu st1p!e articles Of
subsistence.
4. That the European war will diminish the
current supplies in that quarter
5. That tie inferior quality and light weight
Of the grain Of this year will contribute ma
terially to tie reduction of the apparent re-
turns of the asst harvest.
6. That should the efforts of the press to that
end result in a temporary reduction Of the
home prices Of breadstufls, thus leading to i'm
provident exports now, we may rue our folly
when the pressing wants Of our own people
shall demand he very supplies which have
DeeH sHippeu duIoau'
These are strong points, and were we not re-
strained by the pressure Of our advertisers
upon our columns, we might prottably devote
leading article to each separate specification.
As it is, a few general suggestions in reply,
must for the present, suffice.
First, then, we have no desire to mislead the
public in regard to the crops. "Facts are what
box nIf aipol
arc inclined to believe that in the aggregate the
crops of The corn growing States do approx
mate an average; and that if they do not, the
deficiency viii be nearly made up from the
savings of last year from the opening to mar
ket Of new districts from the diminished con-
sumption of corn in the production of whiskey,
and from the greater economy Of farmers in the
feeding Of their animals. Much has heretofore
been literally wasted in the Western States, in
the careless feeding Of hogs, cattle, DC, which
will now be saved for Cowes and market
market being brought to the door by the To-
comotive.
Secondly we cannot concur with Mr.. New
ion in this that, considering all things, the pre-
sent prices Of grain ore low. rise within
year of the retail price Of flour il New York,
for example, from seven and eight to ten and
twelve dollars barrel is above the ratio Of the
increase of the precious metals in circulation,
and above the rise in the wages OF labor AMI
the increase Of population. Nor have the in
creased costs of production been so sudden as
to Justify this rapid advance in the prime ne
cessities Of subsistence 1t can only be ac-
counted for upon the presumption Of great de-
liciency in the general supply and if this de-
fciency does not exist, prices must fall to an
equilibrium.
We have been under The impression that for
the bread crops of this year much larger
amounts of lands in every State in the Union
were sown and planted than in any previous
year of the last great decade Of our agricultur
lists. Anticipating splendid market in Eu-
rope, our farmers last fall and spring generally
put in unusually large quantities of wheat and
corn. The increase in the number of acres thus
appropriated must be placed, as far as it will
go, against the loss per acre under an average
crop. This general extension of the area of
| production will perhaps neutralize, at least,
for the last ten years, and for the current year,
the immigration to our shores from Europe
and the remarkable increase in the population
Of our great cities over the rural districts"
The European war has had its effect upon the
bread markets of the world. The great store
houses of Odessa have been shut up, and their
supplies cut off from Western Europe, perhaps
to the extent Of twelve or fifteen millions of
bushels in the single article of wheat. But the
crops of England, the Netherlands, Germany,
and perhaps also. Of the fertile plains OF HUI
gary, have this year been unusually fine. The
ordinary supplies required for the West Of Eu-
rope, from Odessa, will therefore, not be needed
In the event Of The reduction of Sebastopol
there may be peace; and we doubt not that it
will then be discovered that even the ravages
OF BIitons, Gauls Turks, Tartars and Cossacl.s
have not consumed The surplusage Of Southern
Russia and the Danube.
OF the weight Of the wheat OF the present
year, We apprehend that Mr.. Newton is not suf.
liciently hopeful. The season was generally
good throughout the Union for full crop; and
we rather think that though there may be ex-
captions in certain districts, there will he but
little general diminution Of the yield of -four
from the average quality Of the grain.
We have no fears that 1.-The efforts Of the
press to bring about reduction Of the prices
Of breadstufIs and provisions, will lead to such
extensive shipments to foreign countries as to
result in famine prices from the scarcity which
may thus be produced at home. There must
be very considerable advance in prices in Eu-
rope, or great decline here, before our specu.
lators can venture upon any very heavy ship
ments Of flour to the British islands, Holland or
France. Freights will hardly justify the ven
ture Of q cargo to the isles Of Greece" or to
Turkey, where prices are extraordinarily low
according to our standards, though bread may