Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1856-07-23
From the Richmond Wig, July III
The Price of Wheat.

ITTOlH lltCiCUtOHtt =
The Price of Wheat.
At this particular time the price of wheat is
subject of far more substantial interest to tn
mass of the Virginia people than the election D,
any Yankee of them all to the Presidency. In
farmers last year having expended lmmens
sums in guano, for the purpose of supplying tn
belIigereDts with the staff of life to enable then
to prosecute the work of death, the conclusion
of peace was little better than q fraud on those
who had thus invested their money. But decld
edly depressing upon the market as the peace
was, we very much doubt whether the opera
tions of the French government in the grain
trade have not been attended with far more
serious effects. Ever since the year began, the
agent of the French government, the Credit
Mobilier, has been buying wheat and throwing
it upon the French markets in large quantitie:
at time, to depress prices. The government
expected to redress itself for any loss its frsi
sales, by the gains it would make in subsequent
purchases at q reduced figure, and at the same
time, by driving out private dealers, to monopo-
lie the market. But where it gained or lost in
the operation pecuniarily, it was bound, if il
would maintain its existence, to furnish an abun-
dance of cheap bread to the people of France
Louis Napoleon well knew all that the revolu-
tions in France, from that of 'S9 to that of 4s,
both inclusive, were mainly owing to deficient
crops and dear bread. He can only maintain
his own government by providing against the
evils which have subverted so many Others
lie therefore takes from the public treasury, and
will continue to take as long as there is any
there, the sums requisite to buy bread for his
rebellious people The expenses of the late war
straitened him in his resources, and by weaking
his ability to purchase sufficient breadstuffs, rem
dered him so anxious for peace. But the late
inundations in the south and centre of France
unparalleled since the somewhat famous flood OF
Noah--have, according to NJ. Gaillardet, pro-
duced great destruction, and will require great
er outlay of money than the war did. Whether
Bonaparte's government will be able to repair
these losses, and at the same time continue to
raise money to speculate in grain, is question
of doubt. The advancing rates, reported by ev-
cry late steamer, not only in England, but thro'-
out the continent, would indicate that the at.
tempt to control the grain market Of the world
is beyond the ability of the nephew OF his
uncle"
We infer from the inundations, that the def
cheney in France, the present season, will be
great and serious. The destruction cannot be
confined to the low lands on the rivers which
have been overfowed. The rains which fell in
sufficient quantities to produce those unprece-
dented elevations in the water courses, must have
had an injurious effect upon all the growing
wheat A wet season in this country is always
followed by bad crop, and the nature OF wheat
is the same everywhere.
In Spain also, the accounts represent the crops
as far from promising. In the Danubian Pro
vinces, in the southern districts of Russia, and
in all the regions bordering on the Black Sea, the
finest wheat growing country in the world, being
occupied by the armies of belligerents at the
season of sowing, it would be unreasonable to
anticipate more than half crop.
In England the crop is promising though it
will be about three weeks later than usual. This
is an unfavorable circumstance though not al
ways fatal. But, however good the growing
crop may be. there is present deficiency of
from twenty-five to thirty millions OF bushels,
which must be made good from some quarter.
With respect to the crop in the United States
it is too soon to speak of the largest wheat
growing dstrict-the Northwest; and as to the
prospects in that section, we have nothing but
the every year repeated paragraphs, that the
crops were never more promising.
As to Virginia. where the crop has been
harvested though not threshed, the accounts
are contradictory. In some sections -beow
tide water particularly-the CROP from the best
information we have, is the worst for ten years.
In the Piedmont region it is better than it was
last year, though it was seeded at greater cost
than any crop ever was before, by the free use
of guano. We suspect this remark is true OF all
the country on the side of the mountain. We
have heard but little from the Valley. A letter
in to-day's paper from Rockbridge, gives very
unfavorable accounts from that county. We
may concede upon the whole, that the aggregate
yield will be equal to an average-but we are
ignorant what that is-no satisfactory statistics
of the production of the State ever having been
collected. But whatever the quantity, one
thing is certain-the crop has cost so much in
guano that the farmer will realize very little
clear profit at less than $1.50 the bushel.
When to sell, is question for every farmer to
determine for himself. All we propose now, as
heretofore, is to supply him with all the facts
we can gather, both at home and abroad. Nc
doubt that now, as formerly, efforts will be made
by spectators to create panic to scare farmers
out of their wheat at the lowest possible figure
But from the existing deficiency in Europe, and
the prospects of the growing crops there and
here, we see no good grounds for alarm We
believe there will be good demand, at good
price, for all we have to spare between this time
and next harvest. But if the whole is thrown
upon the market at once OF course the price
will fall [Snce the above was published in the
Wing, steamer has arrived bringing a more
favorable report of the crops in England ant
France.