The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1856-08-16
The Corn Market.

{ sions as it is We, and stormy. The sprini
c has been favorable. Potatoes have com
forward well, and there is much create
supply Of green food, such as peas, carrots
turnips, &C., than usual. The harvests il
the South Of Europe and in the South o
the United States are very carly, and ar,
said to be very abundant; and already sam
/, pies Of the produce are finding their way t
market. Notwithstanding these favorable
circumstances, the price Of wheat keeps We
ry high-G9s. Sd. per ar. is the last six
weeks ayerage-though not SO high AS al
the same period last year, 1Gs. lid. Then,
I, however, war intcrfcrcd to some extent with
our supplies and those who have lately cx
pected very considerable fall to ensue il
consequence Of the peace, must be much
disappointed at the present condition Of the
: market. We look on the present price As AZ
indication that our available supplies are We.
ry short, and only tolcrably carly and
abundant harvest can lead TO any great re.
duction in prices
We believe, say Mcssrs. Lucy 4 Co., in
their monthly corn circular, dated Jl!y itli,
that the stock of really good wheat at onr
provincial ports has not been so small for
many years. Mcssrs. Surge speak in their
circular ''of the present exhausted State of
the stocks in all the ports of export" And
they say, too, though the quantity to be Oh
tained from the ports Of the Baltic may be
large towards the close of the year, that lat
present the quantity to be had is very limit
cd We stated the same fact last week in
our commercial article. Stocks, both at
GalatZ and lbraila,' the Mes>rs Lucy say
"are very trihing '.aud at Gaatz wheat Of
first quality was selling at AS. Sd. 70 Jls.
the quarter free on board" photographic
dispatches from st. Petersburg state that
contracts had been made there for August
delivery Of kubanka and SaXonka wheat at
j3S. per Or. free on board. Nothing could
be had for immediate shipment, stocks being
exhausted At Ancona, too, June 2lst,
. the price of wheat had continued to ad-
vancn, and was equal to Cos. cd per or.
free on board. Nothing could be had for
immediate shipment, stocks being exhaust
cd"
At Alexandria, according to Mesars Po-
tonicr q Co.'S circular, the price Of the poor
. wheat Of Egypt from o1s. to 4ls. per or.
free on board. BY the latest advices from
New York mixed Southern whcatwas selling
in the market at prize equivalent to 5Gs.
per or. All these facts converge TO one
point, and show a general scarcity Of
wheat High prices almost everywhere pre-
vail, and fully jus.liy-as We cannot do
without supplies from aLroad-the high
price which ranges in our markets, notwith-
standing the peace. Indeed, we are rather
surprised, after looking at these and similar
facts that the price at present is not higher,
rather than that it continues so high.
Last year at this time, in consequence of
the war, our prospects were not a. good "a
now, when we have Russian ports to resort
to but the actual supply at present, both in
our country and all the ports accessible TO
Us, appears more scgnty than last year. a.
We may get from Russia hereafter, rather
than those We have got or can now get,
which keeps our prices at present below the
prices Of last year Not only arc our own
stocks short, but the imports are compare
lively small. Ia May 20G, 500 qrs of wheat
and 300, 715 cvt. Of flour were imported,
against 4g7 S3s of wheat aud 159, II cwt.
Of -four, in May, lSjj. when the imports
ef corn and -four were very much below the
imports in May, lSji In the five weeks
of which we have the weekly returns since
the end Of May, the imports were of wheat
and -four together 29G, Col qrS. against 3T2,-
g76 grs. in 1855, or 7G,32l qrs. less
Thus. while our stocks are small, the i'm
ports have been less. Our prices have not
been sufficiently high to induce large i'm
ports in the face of high prices in the export
Ing countries, and brisk competition for eve
~ grain that Is to be had and We are, in
consequence, more likely to see prices rise
than fall before the harvest, unless it come .
early and be abundant. This makes the .
market very feyerish as the weather
changes.
The only evidence we have been able to
find of the existence anywhere of a tolcra ,
bly, large supply Of food out of our country
-. Il :. I i I. {
contained in the -fhaHcgm Of last Satur-
day An intelligent correspondent of that .
journal, writing from Brndisi, in June.
says: AZ merchant Of our party stated that .
during the last six weeks full 300, 600 tomoli
OF wheat had been exported from Barletto,
amounting to about 10000 qrs., without
making any sensible impression on the .
quantity yet in reserve; and he calculated .
that in few stores with which he was ac-
quainted there were full 500 900 qrs Of
wheat, besides an immense quantity of In
dian corn, lupinS, beans. and haricots. -
France, which has been ransacking all the
ports of the Mediterranean for supplies as
well as England, viii be glad to hear this
news, if true. Ii is rather strange, howe
yer. if there be such abundance in Ba.etta,
that wheat should be selling at Ancona, less
than 80 miles from Bar eta, at Cos. Cd.
per quarter, though the two places are un-
der different governments. The export duty
of los per quarter levied in the Neapolitan
dominions has certainly impeded but not
wholly prevented wheat from finding its way
out of the kingdom, and the I00, 900 quar-
ters shipped have had, We are informed,
marked effect in raising the price of wheat
there \ few carsocs Of whea, have been.
we know, contracted for in Barletta-but
only few--ior England, and only last week
a cargo was sold here OF white Barletta for
7JS, per quarter, cost, freight and inSur-
ance If 100000 qrs. of wheat were now
to be had at Barletta, the export duty would
not keep it at home while it fetches such a
price abroad. We are afraid that we must
regard this statement of our cotemporary as ,
A gross cXaggeratiOn-one OF those hastv
and crude statements, however. which, fall
ing in with vulgar prejudices, are readily [
believed, and help to beget the unseemly IN t
dignation we continually hear expressed and !
against corn dealers, and bakers,
and others, for keeping up the price oi
food.
All over Europe there is increased con- :
sumption, and no Immediately correspond l
ing increase of production. Trade, which I
some unthinking persons stu soon az or c
abuse, has, indeed, increased the avaiiaoilty a
Of the whole quantity produced Tor the &C. S
neral use. 1t has given a value to much t
rrain which would have been allowed to rot, 9
7r been given to cattle in India, Egypt, the t
Far West of America, and in the wilds of t
Russia, and made it available to feed men in (
France, Bel ium, Germany, and Britain, ,
who might otherwise have starved BY such !
means, too, it will help forward an in
.reased production in those countries, and
n all countries wherever it carries the de-
nand of a hungry and industrious multi |
ude Till such demand arises-til an in |,
.reasing price stimulates the exertions OF the
armcr,--he has no motive to increase his !,
and the commercial and manu- 8