New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-01-26
some trsde., like the iron trsd., the lesther trade
ard wool trade. h.ve received some support from
TIE extrsordiny d.1sbi the war has created for

/ ire eXtrtOfuinl dsDth1 tne war mss cret'cu lpr
these products; and lastly, the. in other trades
| Ike the shipping. the ~osi trade. erc.. where
exaggerated notioos IS 60 the effects Of the war
sos.ered over speculation on both sides Of the
Atlantic, only partial outlet has been furnished
I, the already ruling and universal tendency to
over-tTsdirg However their principal arga-
men, amounts 10 this that tue war has produced
high prices for eli sorts II grain which higb
prices hsve engineered the crisis
Now. il will be recollectei that the AVERAGE
prices Of corn ruled higher IN 1883 than Ia l-ji.
IT, then tle'e prices are not 70 account for the
unprecedented prosperity of 1853 they can as lit
tie account for the revulsiOn Of 1854 The year
lS36 was marked by commercial revulsion, not.
witistsndiDg its Low corn prices; l52i 81 well
~ 1853 were years Of exceptional prosperity. not
withstsndiDg the high prices that ruled in all
sorts OF provisions. The truth is, that although
high corn prices may cripple Industrial sn1 COM
mercisl prosperity By contracting the home mar
ket the home market in country like Crest
Britain will never turn the balance, unless all
foreign markets be already hopelessly over
stocked High corn prices must, therefore, ia
such country, aggrsyste and prolong the revul-
sioB; which however, they are unsble TO create.
Besides, il must not be forgotten that CONFIRM
ing to the true doctrine of the Name hester School,
high corn prices, if produced by the regular
course ID nature, instead Of BY the working of
protection, prOhibitive laws and sliding scales,
altogether lose their fatal influence, aud may
even wOlk aGvsntsgeOusly BY beneftting the
farmers. Az the tive very deficient hsrveits Of
l-52 sud 1873 cannot be denied TO have been
natural events, the free traders turn around upon
the year 1854, snd affirm that the Oriental war,
working Ike protective duty, has produced
bsh prices not Titbstanding plentiful harvest.
Putting aside. then, the general influence Of tho
prices Of brsadstUfs upon industry, the question
arises as TO the influence exerted by the present
war upon these prices.
The Rassisn importation of wheat aud hour
constitutes about Ia per cent. Of the entire i'm
pOr.ation of the United Kingdom aud It's whole
importation. forming but about 20 per cent. Of
its aggregate consumption, Russia affords but lit
tie more than % per cent. of the whole. Ac-
cording to the latest official returns. which do
not extend over the first nine months of 1888.
the entire imports Of whest into Crest Britain
were 3, 40, 92l qrs, OF which 733, 507 were from
Russis, and 2G9 COO from Wallscha aud Media
via. OF iour the entire Imports amounted to
3,-0O7i6 cgts. of which g. were supplied from
Russia and none at sll from the Prncipalities.
Such was the case before the war broke out
During the corresponding months OF 1884, the
importation OF wheat from Russian ports direct
was 525 900 qr.., against 1851 in 1853, and
from the Dsnubian Princpslites lis, OOO, against
2G9. 600: being a deficiency Of 307, 507 qrs. lit
be considered that the harvest of 1914 was su-
perior. and that OF 1853 a very bal one, nobody
will affirm that such deficiency could have ex-
erttd A. perceptible influence on prices. We
see, Ga the contrary, from the official returns OF
the weekly sales in the English market of home
grown wbeat-these returns representing bus
small portion of the entire sales Of the country
tbs. in the months of October and November,
lo5i. lie Q, I4e or. were sold, against 755,O6l
qIs. in tie corresponding months of l-53-more
tran making up for the deficiency said to have
been csus,d by the Russian war. We my re-
mars, al,O that had tie English Cabinet not
caused large stores OF Turkish whest to rot in
the ersHaries OF the Prilcipsities BY ssupldly or
trescherously bockadipg the Solina, mouth of
| he Danube. and thus cutting off their own sup
supplies, The war WITH Russia would not have
s.inted the importation Of wbea. to The
small amount il has done Nearly two thirds Of
the London imports of foreign flour being derived
from the United States, il must be admitted that
the failure of the American supply in the last
quarter of 1854 was a much more impOrtsnt
even. for the provision trade than the Russian
war.
II we are asked how to explain the high prices
OF Corn in Great Britain in the face of an abund-
ant harvest, We shall state that more than once
during the course OF 1853, the fac! was pointed
at in TIE TRIBUNE, that the free trade deus-
iors had csused the greatest possbe Irregular
ties hDd errors to take place in the operations of
the British corn trade, by depressing prices ia
the summer months below their natural level,
when their advance alone should have secured
the necessary supplies and sufficient orders for
future purchases. Thus II happened that the in
ports in the months of July, August September
ard October, 1854, reached but $50 900 ara.
against 2.l320OO qrs. in the corresponding
months of 1853. Besides, il can hardly be DOUBT
| ed that consequent upon the repeal of the earn
laws such large tracts of arabic land were trans
formed into pasture in Britain, So to N AXE even sn
sbund ant harvest under the new regime relative
! ly defective. Consequently, to quote circu-
lar Of the Hull Chamber of Commerce, the
United Kingdom commences the year 1855