The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-09-18
TIE PRICE OF WHEAT.


mark that we hope its opinion IN regard to
an advance in the price Of breadstuffs may
prove correct:
II there Is any one thing, in the world of
commerce, more difficult to do than another,
IL Is TO calculate with any degree of certainty
the future Of the market for breadstuils. The
great error made Is in surprising that the
price is determined altogether by the supply.
That this has great influence on il, is appa.
reDt-but il Is evident that there are various
other circumstances, totally independent of
the supply, which affect the market for bread.
stniis 10 greater or less extent.
Usually, the foreign demand regulates the
prices at home. But the foreign demand is
affected to some degree by the balance of
trade, the price Of freights, the condition of
the money market, and the political condition
OF the various governments Of Europe. So
that the merchant, or the Spectator, in this
country who makes his calculations solely
with reference to the production of bread
stuffs, without taking into account all these
other circumstances, is apt to be wide of the
mark. In truth, there is nothing in the world
OF commerce, requiring the exercise Of greater
caution, and the possession of more COM
prehensive knowledge of political economy,
than the formation Of correct theory with
regard to the future Of the foreign market.
Thus, we see what great mistakes are made
by those who have had the longest experience,
and are most conversant with this subject
from practical knowledge of it through n Sc.
ries of years. Ii is common thing to hear
OF failures of provision dealers, who have
been in the trade for long period, but who,
by mscalculation Of the markets, have be-
come swamped in unfortunate speculations.
Oureobscrvation, rs well rs the experience
of old farmers, has led us to the conclusion
that, taking one year with another, the best
thing farmer can do is to Sell his wheat rs
soon as he can, after getting it out of the
straw. IT airy experienced farmer will look
back. or will refer to his books (for every
farmer ought to keep regular set of books
for each year, he will discover that wheat has
fallen, after the opening of the market, just
as often as it has risen. We know that il
Would cause self.reproach if wheat should
advance after planter had disposed of his
crop-but let him reflect that it might have
fallen, and very often does fall, and he will
have sufficient compensation for any regret
he may feel ut such circumstance. This
year, it has happened that wheat has been
falling every day since the opening of the
market The farmer, who held his wheat for
rise, is therefore II loser. If he had sold
early in the season, he would have been q
gamer. BY selling early he sometimes gains
and sometimes loses-but we repeat, that
taking one year with another, 1t is our opinion
that selling early is the best thing he can do.
And this, without taking into consideration
the loss from shrinkage, from weevi, from
the danger of the wheat being burnt up or
otherwise injured, and the use and interest of
the money. All these risks are avoided by
the planter who sells early, and they consti-
tute at least from five to ten per cent of the
value of each ones crop.
As to the present prospect of prices-re-
peating our former opinion that it is the most
difficult thing in the world to form an abso-
utely correct concusion-we nevertheless
incline to the belief that there must be an
advance. Wheat may yet go down little
lower--but our impression, though we ex-
press 1t with great reserve and diiiidence, is
that there will be reaction before the end of
the year. 1t is true, immense crops have been
made-but then the price Of wheat is now
ont of proportion to almost everything else
in the market. Moreover, the recent failures
and collapses in the monetary circles of the
North-the breaking of banks and CONNER
cial houses-and the generally unsettled state
of financial affairs, have hud tendency to
| depress, temporarily Mt least, tho price of
everything, wheat and -four included As
soon rs this excitement is over, and trade
again moves on in steady channel, il is rea-
sonabe to conclude there will be an advance
in brendstuffs and in every thing else. 10
| show how these financial revnlsions affect the
price of everything, we may mention Virginia
Stocks, which have suddenly fallen from up
wards of 80 down to 81. Now, nothing has
occurred TO affect the credit of Virginia dur
ing this timc-and we must therefore attr
butte the decline in these stocks, as well MS the
decline in breadstutf-, to the financial excite
ment and panic. AS soon rs this subsidies,
we confidently expect the value of both will
rise to their proper level.
There is another circumstance which we
think will affect the price of grain. On the
first Of July the new Tariff went into opera
ton, with considerable reduction of duties
This has had tendency already, and will
continue to have ii, TO stimulate the importa
ton of foreign goods. We must pay for these
foreign goods either with gold, or cotton, or
breadstutfs. We already send all the gold
that can be spared-the supply Of cotton is
limted--and the consequence is we must ex-
port large quantities of breadstulfs, so as to
keep up the balance of trade. This will ere
ate an active demand; which, it is well known,
always puts up the price. We observe, al
ready, that the New York Journal of Com
merce-very reliable authority in commercial
matters-states that the engagements of
Great Britain for grain in that market have
averaged fifty thousand bushels day for
several days-and that there is prospect of
heavy export business during the fall
| months.
In conclusion we repeat the expression of
our opinion that as general thing, one year
with another, farmer will not lose by selling
his grain us soon rs he conveniently can, af-
ter harvesting it. And in regard to present
prospects, we shall be very much mistaken if
breadstuffs Go not advance between now and
Christmas. We may be wrong-but this is
our honest opinion "with the lights before
u.s." Let each planter, however, exercise his
own Judgment, and act accordingly. We
have no concern in the matter except a sin
crre desire for the advancement of tho agri-
cultural interest. ~"
A SENSIBLE MAN.-We received letter
on Saturday last, from subscriber who re-
sides In one of the interior counties of Geor-
gia, enclosing S2,00--from which letter we
take the following suggestive extract: