The south-western. [volume] (Shreveport, La.) 1852-1870, 1854-11-15

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and on the continent, which will in all likeli
hood have most beneficial effect on the cottol
market. In England, owing to the long con
tflnuance Of fine weather, and the UNUSUAL,
large breadth Of land sown, the wheat crop i
paid to be much the largest ever known in tha
country. The consequence is that the price o
wheat and flour must undergo great decline
with prospect Of a still further fall before til,
lowest point is touched, although flour is nov
much lower at Liverpool and London than It'll
IN New Orleans, New York, or Cincinnati. I
is estimated by Barring, Brown & Co., and b,
Hope q Co., thatthe British consumers of breac
will save Sl25, 100000 in the price of hou
alone, besides a proportionate amount in the
purchase of other kinds of grain. Wheat ha:
already fallen about go shillings per quarter D
eight bushels, and flour from "a to 26 shillings
per barrel. At this rate flour would pay pro
| it Of nearly two dollars per barrel if exported
now from Liverpoolto New York. and if prices
do not decline very soon and very largely in
lhe United States, we shall soon see grain from
abroad rolling in briskly, as it did in 1887 and
1889, and thus once more presenting the hui
Initiating spectacle of the United States being
hn importer of breadstuffs.
/ A good or bad harvest in Great Britain has
more effect upon the money market there, and
by sympathy in this country, than any other
single cause whatever When the British har-
vest is deficient they are obliged to buy large
quantities Of grain abroad, and pay it in gold
10 the amount often of 800, 100000 in sin
tie year. This drain of specie cramps the
London money market, depresses manufactu-
ters, spinners and enterprise of all kinds, both
foreign and domestic, cuts off the usual loans
10 foreign borrowers, and recoils with injurious
effect upon the money markets of N York and
Philadelphia. The rate OF interest goes up fast
IN Lombard street, and twice as fast in Wall
street. Railroad projectors who go out to Eu-
rope, with their pockets filled with highly en-
bellished and beautifully colored maps, to Dor
row money are treated with derision, and even
|he soundest projects receive no countenance.
This country derives some benefit, it is true,
from scarcity Of grain in England, if We have
large crops and are thus enabled to export
breadstuffs; but even then it probably loses
more than it gains in that way, by the ruinous
advance in interest, the depression of the cotton
market, and the general want of money in the
commercial world. A good harvest changes
al this. It leaves the British bankers and cot
ion manufacturers an abundance of money, not
only for their own use at home, buta large sur
plus to invest abroad. At such times money
is to be had for all kinds of enterprise and cot
son is in great demand. and its price, as con
sequence, becomes enhanced. Cheap bread, |
aonduces to cheaper labor, cheap wages enables
manufacturers to extend their business, cheap
On their goods, and deluge all other countries
$ith the fabrics Of their looms.
! It is now confidently stated that the crop of
wheat in the United States, Ito say nothing of
Canada, } will prove to be an average one Yet
the receipts of flour up to the 25th ult. show an
enormous falling of from last year, and were
Fss than they have been during the same time
pr the last twenty years. This deficiency is
accounted for in two ways. The supplies in the
aterior had been heavily drawn upon by the
preign demand early in the season, and the
festern farmers who are able to hold on to
helr produce, have been so long accustomed
. anticipate higher prices, that they are very
eluntant to change their views, or sell their
fops Wheat is therefore held back from the
market to considerable extent, and as the close
# navigation by ice of the northern lakes, riv-
rs and canals, is not far distant, the fall in the
7:1lue of -four, though sure to come, must in the
bsence Of full supplies, be slow and gradual.
a the meantime our readers must do the best
ley canin regard to the great staple of life,
nd quietly wait until flour has declined to a
sasonable price.
Our friend of the Marshall Meridian displays
4mirabe skill in its explanation relative to
lie stock Of New Jersey iron company com
BANDING eighty per cent. premium; but it for
cts that the reports of sales both of cotton and
tocks invariably give the very highest, as well !
8 the lowest, rates which they brought I
10 such valuable stock or bonds as the Meri-
ian cited exist, and moments consideration s
'Ill convince our cotemporary that they did, i
q sane man would deposit them for the little S
i'm Of $500, 900, when he could sell the stock |
Or specie, make the required deposit, and have {
eft in his pockets two hundred and forty thou
and dollars in real money. For the stock would t
oil for $4,000 t
The British press is beginning to growl at the
ardiness with which the eastern war is con-
acted, and day by day the disafection to-
'hrds the French alliance and the war with i
'assia rises higher and higher in England. It t
SNOW openly charged that the inaction of the q
british fleet in the Baltic arose entirely from t
5e favor felt by the officers and the aristocracy
all r. NJ IL