The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-07-11

Everybody is interested in knowing something
concerning the state of the crops-for the
good and sufficient reason that the material pros
perty Of the industrial classes in all parts of the
country is largely dependent upon a bountiful
harvest. In seasons when the surplus of agri-
cultural products is large, and meets with ready
market at good prices, all branches of business
whether manufacturing or commercial are bene-
fitted TO an equal degree with the farmers them
selves. IF the panic of 1857 had been follow ed
by good crops in 1858 and 1859 the serious depre-
citation in the price of farming lands, and the
heavy losses that were sustained by country mer-
chants, and through the latter by the merchants
on the sea-hoard, would not have occurred. But
when, in addition to the financial disasters, origi-
mating in the drain that had been made upon the
money of the country by Railway Corporations
and in rash speculations in stocks and wild West
ern lands, two successive harvests turned out
badly, no other results could possibly follow than
mat credit should be shaken everywhere; that
Western lands should attract no purchasers except
at ruinous prices; that stocks and public securi-
Ties should be deprecated to point far below
'her intrinsic value, and that many persons who
were reported TO be wealthy should suddenly find
themselves either hopelessly bankrupt or on the
very verge of bankruptcy. The partial improve
ment upon this deplorabe state of things which
mas since been effected has only been accomplish
Cyl oy uint OF close economy and a more prudent,
ye' hot less energetic application 10 business
nu' Is well known that the partial
nature OF the crops of 1853 and 1859
mas Kept the coursry bare of supplies and
sustained the price of all kinds of grain at a
nngner inquire than for many years PREVIOUSLY
ine present season, we are happy to state, bids
i'lr 10 compensate to considerable extent for past
uehcencles. If the reports which reach as from
all quarters of the Union may be relied upon, the
prospects for an abundant harvest have rarely
oeeh more tlattering. All accounts concur in sta
thg mat the crops of Pennsylvania, Western
virginia, Ohio, Indiana and Illinois, indeed of all
our principal grain growing districts, promise
10 yield heavier returns than have been realized
for several years. On the other hand, our foreign
exchanges are filled with gloomy accounts of the
condition of the growing crops both in England
and on the Continent The grasses have been in
Jurea by torrents of rain, succeeded by cold and
cutting winds, and the flocks and herds have suf
eu 10 such an extent that the market price of meat
mas advanced from one-third to one-half more than
the usual cost. The growing grain, retarded by
the inclemency of the Spring and early Summer
IS said to look very badly; and fears are expressed
lest continuance of similarly unfavorable wea-
Their should lead to an almost total loss of the
crops With favorable change in the weather,
which, at the last advices, had somew hat improved,
an average grain crop might yet be secured,
though the period of harvest will be at least two
weeks later than usual. IT. however, these hopes
should not be realized, the bouniifnl crops, which
have in all probability rewarded the labors of our
farmers, would scarcely be more than sufficient TO
satisfy our domestic wants and the active foreion
demand which would spring up. On the whole.
therefore it must be conceded that the prospects
for the ensuing year are highly encouraging, for
with good crops old debts will be cleared off, and
with this increase of means new enterprises will
be undertaken. e