Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-02-05
PRODUCE AND PRICES.

Some short time ago we ventured prediction
that the present high prices Of pork lard and bacon
could not long be maintained. Some of our friends
have differed widely with us in opinion and their
views are based upon the shortuess Of the hog
crop, which the reports from some of the packing
points would seem to indicate; but, should their
estimate as 10 the extent of the falling off 10 NAM
Der and weight BE- res lied, (Which We cannot sd
mit) our views as TO the future prices of these
importint articles Of commerce and consumption
would net be materially altered. A to the extent
Of the crop, no ore can ever approach correct es.
innate OF the general aggregate by the defcienCi
which may appear at three or tour, or even
dozen points. Tuis country is too extensive for
that The slngUine and impusige speCula, or
might he induced to act upon such data, but the
wise aud prudent man is not Usually caught u
such traps. The deficiencies " hich Lave appeared
at se7ergloft the packing points, were attributable
mainly to other causes tina to the shor Of the
bog c.o7, as haze been shown heretofore in our
columns
For example, the falling eff at Louisville OF
eigh.y-ive thousand head-which IS spoken OF as
the most important-is reduced to a deficiency of
very small consequence by the fifteen thousand
packed fJr the FIRST time this winter at Lexington,
by the excess Of fifteen hundred packed at Frank
fort by the excess OF thirty thousand sent this year
from Kentucky TO Cincinnati, and by the increase
in numbers driven Tor slaughter to points lower
down on the Ohio River; 80 the deficiencies at
many points in Indiana and Illinois, that have
heretofore packed five thousand, ten thousand or
fifteen thousand hogs, should not be considered at
all wonderful, when such facts are known as this;
that there were fifteen tn Jussnd head shipped
alive from single point in Illinois, to wit Jack.
sonvile, to the city OF New York as vas noticed
by the Journal Of that place of January 9th.
Oar system of railroads has worked an entire
revolution in these matters; and the farmer who,
last year, might have had his hogs and cattle
slaughtered at Indianapolis this season might have
found it to his advantage to have sent them to
some poiut on the lakes or the Atlantic. Il should
also be remembered, that the deficiencies so much
SPOKEN of only appear when the numbers OF this
are brought in comparison with those of last sea-
SOD, which is admitted by all to have been one Of
unusual abundance
But we did not disgn, to day, to notice at any
length the allegation of short CROP Even should
there be the deficiency estimated, We think prices
must come down from the present imitation. All
experience teaches that the effect of very high
prices is to reduce consumption and this rule Is not
confined merely to the article of provision. The
consumer will only buy to supply his immediate
wants, and will curtal as far as possible, the
quantity used. While, in our city, the article Of
coal commands fifty cents per bushel it would te
considered very small estimate to says that thirty
per cent less is used even by those who are amply
able 10 buy than would be consumed could it be
mad at twelve cents per bushel; but how much
greater must be the effect of eXorbitsnt prices upon
the consumption OF particular articles of provision,
for which there are so many substitutes that can
be brought into requisdon2 We think therefore,
it pretty nearly demon ,trable, that, thought the
deficiency in crop be as great as claimed, should
the present high pr.Ces continue two months lon
ger there will be Tded 10 the next remaining
nine months larger amount Of the hog product,
for consumption than was on the market during
the same period last year, although that was one
of uupreceeded Rbuunsncs. But this is not all.
Thousand Of barrels Of pork and lard have been
bought by spectators, within the past few weeks.
by the negotiation of bills drawn at sixty and nine
ty days, payable wbea these articles are TO be
shipped for ssls. These bills, at maturity, must
be met by actual sales, or they must be renewed
for sixty or ninety Gays longer. If the money
market happens to be stringent this last cannot be
effected at all; if otherwise, 1t be done al much
expense.
At Chicago and other points north west, money,
on account of the great demand for it for building
purposes and real estate speCulsuons, is usual y
worth about two per cent. per month, and New
York exchange commands one and half per cent.
premium. Then it would be little less than Tuinous
10 obtain renewals if, indeed, they could be eject
ed at all So it would seem quite evident that
those important articles which are now withheld
by Inflated prices from the legitimate commerce of
the country, and see scCCmuating 30 largely in
TIE hands OF PeculstOrs, will, before many months
elapse, be forced upon the markets and prices will
necessarily cCms down, we fear, btloW what would
be considered remunerstivs TO the legitimate
operate Cincinnati 6aguirSr Jan, 81.