Kenosha tribune and telegraph. [volume] (Kenosha, Wis.) 1855-1855, 1855-06-28
The Markets.

The Markets.
MEssRs EDIroRs:
| have this day received your ever well
come and valued paperof 18th inst and pc
rused it as always do with great pleasure
and / hope some profit
could not however butremark the arti-
Gle under the caption OF ''I'HE MARKETS as
one in which think you labor under an err
ror of considerable magnitude. and that.
starting with false premises the whole or
nearly the whole of your arguments wrong.
| say this with all due Difference and only
with the desire of setting you right in a
very important matter, especially important
TO your own prosperous and thriving state,
which is almost wholly agricultural in all
its interests.
You assume the crop of breadstuffs in the
past year to have averaged quite AS well
as usual the world over" This is the err
ror to which l would call your attention.
From the MARX Lane Express" grain
publication in London under date of May
4th, | see the estimated crop of the Island
of Great Britain is something over 4,0OO,-
900 quarters Of wheat, short OF what is con-
sidered usual average. The same paper
of a previous date also estimates the crops
of France, Italy. Turkey, Egypt. Russia and
its Polish provinces atvery much below the
usual average. Thus to say nothing OF the
effects of the Eastern War and the conse-
quent difficulties oil shipping, it is proved
to my satisfaction that the crop OF bread
stuffs in Europe the past year were much
below fair average.
How is it in our own country? You as
sumo because there is an abundance in your
state, or TO use your own expression, because
you care shipping thousands of bushels of
wheat" and .ihere appears to be an album
dance left for those who have money to pay
for it" that the high prices cannot be ac-
counted for con the score Of scarcity" In
this, gentlemen, is where must beg dis
tinctly to differ from you. Wisconsin the
past year was highly favored, more SO prob
ably, than any other state in the Union, with
full or more than average crop of all that
goes to make up food for the necessities of
humanity. The same holds mainly good
for Illinois. Blu! how was it in the other
states? Ohio, usually the largest grain
growing state of the whole, did not harvest
wheat enough for its own consumption, and
its corn crop did not exceed one third its
usual average. Wheat, corn, oat and barley
crop of New York was almost total fail
ure, as well as that of the Eastern States
and large districts of Pennsylvania, Virgin
ia and Maryland, by the exclusive drouth
of last summer. Indiana, which usually
furnishes equal to 1000, 0oo bushels wheat
and 81 to 1000, 600 bushels of corn to this
market, will not from the crop of 81 give
1.-THE of the former and not more than a
moiety of the latter The wheat crop of
Michigan last yeardid not exceed one fourth
the usual crop. 1t must also be borne in
miCd that wheat, especially in times of high
prices, does rot furnish the entire or even
excessively large part of the bread consum-
ed; other ccrials enter largely into conslmp-
ton.
No doubt your views are in part correct;
that there exists speculative feeling is very
certain, but it is also equally certain that
speculation could not for SO long have kept
prices SO uniformly high as has been the
case since the last harvest.
That the ''market will be glutted--thc
bubble burst" may all be true, but if it is,
the causes may be looked for in the large
harvest just about to take place, not in the
quantity now in the country. Appearances
indicate harvest such as has never been seen
in this country. Should the present pros
poets be realized. must agree with your
inference that prices must rccede to great
extent unless for some cause a larger for
eign demand should exist than we have rea
son to anticipate
Begging pardon for obtruding my opin
ons, and leniency for the hasty manner Of
writing, am very truly Yours,
ERIE.