The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-10-02
THE DRCueHr:--THE CROPS PRICES, &C.
TIE HERALD CORRESPONDENCE.
Another Chapter of Interesting Letters.
VIRGINIA

To TIE FproR OF rH1 NEW YORK HKRAiD-
Il have read With much satfaction your circular lei.
ter ssking for Information in regard to the drought
crops, &C. Although not specially addressed, consid
yselt included in general invitation. and shall
proceed to give you such Information 40 possess on
subject at this time u vast importance to the whole
country and about which IT Is desirable the whole truth
should be known. have been largely engaged in grain
growing for more than thirty years; have been close
observer Of every circumstance affecting crops and
prices during that period, and have read stteatvey
nesry all that has been published these subjects in
is of course PR NOTED by high prices This candor re-
qurts me to state yet trust AN incapable Of desiring
to my own interest at tbs expense Of the gene
rsl prosperity of the country.
spent short time this summer at of the Virginia
watering places and returned to the country dur
ing the first week Of this month During my absence
4 from here ! conversed With q great many intelIi.
gent gentlemen from various parts of the coun
Try, and haa an opportunity to observe critically,
the condition Of the crops in a large portion 81
Maryland aud Virginia. The result Of my OBJ.
s snd inquiries that thu the the
W. Munfcrd, Ia in the ain correct From the falls Of
the rivers to the seaboard there much that
good, that is very heavy and vast deal that viii
10 scarcely worth gathering The crops in the fine val
lais OF the tappabannook and Potomac until within
ore, and from that qlarter which usually exports
Largely thsre would be little or none to spare Above
From the county Of Albemsre to the Potomac and from
the head Of tide TO the Allegheny mountains the crop is
entirely Insufficient to supply the domestic consumption
In he valley Of Virginia Of the fpest agricultural
regions in the world whore lands eel from thirty
sixty dollars acre, the most experienced farmers
sured that the average product Of would not
exceed barrel Gave bushels) to the scre while many
fields would produce absolutely nothing My OBJ.
serva.ion on the spot confirmed correctness Of their
opinions. The state OF things exists, IS far az
could observe n the counties Of Washington
e
Of the State is chiefly engaged in grazing and very little
grain Is there grown for market
In <hA Ctafns snA 81
heard much from gentlemen who had seen them, and
satisfied that the Of the country mse aiding
i'm preston that the crops Of the ge.t corn growing
States approximate an average.
grsa. error prevails IN me country as regards the
fectng prices, existing in our country and throughout
the wo Id the present price Of grain very low Let
advert to some Of these circumstances.
The cost of production Ho yever much prices of COM
modiles may be affected from time to time BY supply
and demand 1t cannot be doubted that IL long run
the cot o. production will regulate prices The cost Of
wheat to the producer is the rent of land wages labor
years more the price of wheat in New York
has been dollar bushel The wheat until of
by labor demanding less than half the present rate
Of wages Now 1t is grown to great extent on ex-
naustsd ca anses lequi,ins heavy outlay in gusno,
collars are often demanded for days labor, whilst
foimtr, dollar was the highest price paid.
So scarce and dear is labor, that crops in this
West are left to rot upon the ground, because of
the impossitlity of saving them In Virginia.
labor has within few years more than doubled Such
aboiers sold few yesTs ago for four five hundred
dollars now readily command thousand; and such ~
hired for sixty dollars, in demand in the facto
ries and public Improvements at hundred and fifty
dollars year. Medical bills and life insurance being
also paid by the liners Mules that sold for fifty six
and fifty dollars and lands also have ADVANCED
the elements of prices than doubled th.t the
price Of grain should advan:e? repeat it is extremely
IsarS and STOCK ns wheat would
be day 81 SO buehe in the principal markets Of
the United States This general rise Of prices not
speculative or transitory but permanent and progress
sye Hume, in his Essay Money, described this
subject with much greater cearness than is exhibited
Of two ors psoi He saws ns
that ct the end of the century from the discovery
Of the Spanish mines in South America prices had
advanced more than four hundred per cent would
have advanced sti but for the ncre .ted demand
for money, arising from the neH impulse to enter
wise oecasicned by the influx of the precious metals
opening OF those mines chiefly Of silver produced
may we not expect during the next from tine vast tres,
sures in gold continually pouring in from the mines Of
calfoIn's and Australian Mankind to forget that
gold is but the and not the standard OF value
and that it Hucuates quite much in price as other
commodities its value being at last regulated by the cost
price of wheat for the century should exceed two
dollars and fifty cents bushel This cause operating
the failure of the gold mines There are other causes
affecting prices Of grain, more ess temporary that
require notice
The price Of grain is not regulated by the quantity Of
land in the country or even by the quantity in actual
cultivation but by the labor and capital can be en-
ploytd in manurng the land and producing the crops
No greater exist than that il is possible natu
rally to increase crops by breadth of land
sovn without corresponding in crease Of labor and CAPT
tai The reveals striking facts this sub
jec well to consider The teneen,y of
uatit Is to the cities and towns eafoy increasing the
number of without corresponding increase
Of producers From among many others take these *
York from 1870 to 1880 ATS of this increase
The city Of New York had about s37 and Bro oklyn
1872 $780, mskirg in the aggregate increase IN those
seven cities of 1885, 067-beng than half the
entire Increase Of the State # the enquiry pur
sued through all the towns and villages Of the State it
would probably appear that whilst In Il great state
there Ia fearful increase of mouths to be fed the rural
FINISHED The increase of the population during the de-
cads in Pennsylvania $751; 1885, of this the
city Of Philadelphia alone had s22 In slavsholdns
Nary the same state Of thiogs to some extent pre-
walls though happily for the inhabitants and the vel
fare country at large the general tendency OF the
slavehoding -aies is to diffusion Of tine population
over the rural districts The in Maryland
1905; of which the city Of Baltimore alone had TAI
Of the States at least, reran stationary the
sumers have ncressed at fearful rate Il requires
pre- found knowledge OF arithme tic political economy to
perceive that this state of things must have its effect
prices
III. THE EFFECTS OF THE WAR IN EUROPE.
That large fleets and armies must requne supplies, is
obvious and however gultles, they be of she'd
ding each others blood the effect OF the upon
prces Is the less certain Besides disturbing the
natural CT industry in the countries that
the theatres Of war; producers taken from the eljs
Of agriculture to the camp and become the most waste
full consumers thus diminishing the supply and greatly
increasing the demand for bread.
Nv. SHORT CROP.
have already spoken Of the crop. think you
greatly nstaken in supposing the last crop wheat
| TO have bsen average In what state was 1t
fun c1o2s Not in Ohio New York Virginia MARYLAND.
even in Pennsylvania, as far as informed. OF
he creps in the Tar West know nothing hnt always
ese me lfsf ssmases WIN many grams o. AUG vance.
quantity ana quality. When the quality ef wheat is in
erent the quantity is invariably ssort The Executive
Committee OF the Agricultural Society Of Maryland after
full quiry TO the conclusion that the vheat
| Of that state did not exceed halt average This
may also he said Of the crop o. virgsia. havs
passed through the Baltimore corn exchange several
times during the summer, aud examined the samples OF
wheat and have them poor. sent wheat
the last to Baltimore that weighed upwards OF