The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-09-21

guide OF hen operations, ana 70 opcrato ~ thouSn
England was our chief market for breadstufs. We
have more than once Published tables which show
that the consumption Of A-...sr;css vbsas ana acur
N England Is actually .rifing In comparison with
the home consumption, and that in average years,
when the people Of this country are as prosperous
as the average, there Is no more wheat grown here
than Il required FOR our own consumption and that
Of the neghboring countries and islands which de-
pend upon us for food. Yet, In the face Of this
fact which il well known in commercial circles,
our grain make.s uctuate, not In obedience to the
ratio between our own consumption and our pro-
duction, but in accordance with the fuctaa-
tons on the London Corn Exchange. For instance,
we had this year the largest wheat crop ever
raised and we shall probably have the largest corn
crop also. With the exception Of parts OF he
Gulf States, which seldom grow enough for their
own consumption, the harvest was unprecedented
" large everywhere As there was no obvious
increase of consumers, the consequence OF this
yery bountful harvest ought to have been steady
decline in the price OF cereals from the day it was
safely housed. This is what the laws Of trade dis
tnctly declare. There is no eyading them. When
supply exceeds demand, prices must fall. In this
0OWtVef,
rose steadily for thirty cays-in consequence OF q
speculative demand based upon the presumed
wants Of distant consumer thrcc thousand miles
away. Need any surprise be felt at the result /!
And can any one wonder, In the face Of these
facts, at the ever recurring losses which mark the
history Of the grain trade and the almost invlriabs
ruin in which our large grain operators, sooner or
| later, terminate their career?
The Artisans Bank difficulty is settled Tor the
present by the voluntary withdrawal of that insti-
| tation from the Clearing House. On the one side
| Il IS stated that the withdrawal saved the bank
from expulsion; on the other, that the bank is in a
perfectly solvent position, and Is The victim Of hos
tlity, awakened by its possession Of the city &C.
| count. In the meantime the Artisans viii eaec.
its exchanges through the American Exchange
| Bank, which, to all practical interests and pur'
poses, thus becomes the real depositary Of the city
funds in the hands of the Chamberlain.
In connection with the recent decline In Missouri
State stocks, the following statement in reference
70 the finances of Missouri viii be found interest
| ing
resources Of Missouri applicable 10 the payment of the
interest irrespective OF any OF the earnings OF the
from tvo mill tax collected in December next including
licences, estimates based on revenue OF past fouI
One IN spec!al tax for interest. ........ s50 COX
Bank tax appropr ated 10 interest fund 100 00t
Estima.ed revenue from las: yer. 100000
ro.al...............................sl.7oo ,Ooe
Deduct appropr. aton 70 schools, one
quarter OF the two mill tax. $4,000
General expenses OF the State, esti-
mated by Auditors report At $780,,
900, to which add 100000 for N
creased expenses. ,...............' svV,vU Z.
| 625 0o(
N,o75,Ool
Amount of ,pteres. payable In January
and July next. tlsvV,f0
OF which the Hannibal and 81. Do
- go coz