The home journal. (Winchester, Tenn.) 1858-188?, 1859-06-09
AMERICAN lMPULSlVENESS.

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AMERICAN lMPULSlVENESS.
The American people are too prone
to jump at conclusions, and to proceed
instantly to act upoa them, without
careful vcriiicalion OF their correct.
ness. Once convinced that they are
right, individually and collectively,
they no longer stop to wei yh opinions,
or consider reasonable causes Of
doubt.
The intelligence OF the actual com.
m 'ncement of hostiiites in Italy at.
fords the latest Illustration Of this ma
tional propensity. No sooner had the
news flashed over the electric wire
that the Austrians had crossed the
Ticino and that the French army was
pouring into Genoa and pushing up
the ascent of the Alps, that IA brisk
speculative demand sprung up in our
markets for brcadStuils, more partic-
ulary for -four, this article having
risen in price, in three days, one dol
lar per barrel.
The conclusion upon which this
movement was based, and to which
the American mind arrived almost by
instinct, was without doubt, one we'll
founded, viz: That war in Europe
must ultimately produce a Earopean
demand for provisions. Bat opera
tors, in their eagcrness to grasp the
profits which glittcrcd temptingly in
the distance, did not stop to examine
the actual condition of the markets,
and to calculate how much time
might elapsc before the new demand
would be felt on this side Of the At
lantic. Had this been done, the i'm.
pulsivencss of action might have
been checked by the conviction, that
upon the home rather than the for
eign market spectators in brcadstuils
would be compelled to rely for some
time for profits.
Just previous to the news that
caused the sudden advance to which
allusion has been made, the prices Of
flour here were such that importations
could be made with profit from Eu-
rope to New York and Baltimore on
contract, up to the lst OF July, at low
er rates than those articles then com-
manded in that market.
1t has been estimated that wheat
and flour must advance iity per cent
in Liverpool before an export demand
would be created from America 10
that port, the calculation being based
upon the ruling rates since.
During the present year our wheat.
flour and corn meal have been almost
literally shut out of the markets Of
England. Not one eighth of the
amount exported in either Of the last
three years, has been shipped during
the corresponding months OF 1859.
The exports Of -four have been but
s5,T5S, against 1898 barrels in
1858, and 5lj,S00 bushels Of wheat,
against 34GS,07O for that year. 1t
cannot but appear from these facts,
chat if the advance in the price OF this
staple was due to an expectation oil
an immediate foreign demand, it was
the result of hopeful impulse rather
than of reflection.
The declaration of war, it is true,
affected the market OF flour in Eng
land much as it influenced it in this
country. But that country is nearer
the seat Of war, and must sooner be
influenced by its waste and the with.
drawal Of husbandmen from their oc
cupation. England, France, Austria,
Holland, Sardinia and Prussia are
compelled in time of peace to import
grain from abroad for their domestic
supply, and the complications of the
ominous struggle might speedily inter.
rupt communication with Russia, from
whence considerable amount is de.
rived by each Of these nations.
The markets of the United States
for breadstulis can only be expected
TO feel legitima,ely the natural innu'