Daily Nashville patriot. [volume] (Nashville, Tenn.) 1860-1862, 1861-11-09

For the Nashville Patriot
Speculation In Breadstuns.
MEssRs. EnIroRs-I have resently noticed
9 number of animadveraions upon speculation
in grain, and suggestions that the Legisla-
ture should pass some law restraining specu-
lators from dealing In breadstufis. The wri.
ter of this has no expectation of engaging in
any such speculation, and is consequently
Influenced in presenting this view by no mo-
tive of interest. beyond that which every
member of the community possesses in COM
mon ON a subject of general importance.
/ uronose to examine whether such legisla-
tion as that alluded to, would in the present
condition Of the country be pronotive of the
nubl;c welfare -
This o,est;on l. one subject to the usual
laws of trade When commodities are album.
dant in one section and scarce in another,
the difference of price, owing to these facts,
is such as to justify the transportation of the
products from the place of production to the
point where they are in demand. The en-
hancement of price is merely sufficient to pay
the transportation, and reasonable profit to
the agent who invests his capital and en-
ploys his time in the business. Such an
agent ia the speculator The natural COM
petition between persons engaged in the bu-
siress insures on the one hand fair prices
fnot exorbitant) to the producer, and reason
able terms to the consumer. But, do away
with this business-forbid the speculator TO
buy and SELL and what is the consequence?
The farmer will not transport the few hun
dred bushels of grain which he has to sell, to
distant market. He desires to find pur-
chaser at home. Not finding speculator
coming to his door to buy the surplus pro-
ducts of his farm, they are suffered to remain
in store-ordinary fair prices will not justify
him in the expense of taking 80 small guam
) tity to distant market. The consequence
would be that while there was abundance 10
some sections of country the greatest suffer-
ing might exist in others, for which there
could be no remedy until the price advanced
90 exorbitantly as to induce the distant farm
er to transport his own produce.
Some of the Southern States, the cities es-
pecially, must rely upon grain imported from
those States which produce a surplus. If
Tennessee and Arkansas, and other grain
growing States allow no specu lators to pur-
chase breadstuffs within their limits, how will
the nson,e of Georgia and South Carolina,
vho have to imnort. snnplv their wants ? IF
the Grain farmers each produced enough to
;n.,;fu than, IN tr.nsnortino their surplus to
,,orkot tho commission agency might answer
:. :, does in the cron Init sncb Is not the
c.se The snrnlps nroduce of the country is
20 no found in s,s,i onant;t;os nm zach farm
which ,uou,d not o.enaral,v at al, ;ust;fv the
f.r,,ar =, tr.nsnor,;no - 70 moet a distant
aom.na Til. .t.,o IF ,b;nos wo,,d ono-oto
= o,h,o ;n;,,r ,,,h;la tho cons,n,or uo,,d
e., non, ~ 10 .,n,no,,od 70 nav exorb;-
a.. 80. a.. nn s,,.r fo-r,or. tbror,,h-
ON, The conntrv in remote districts who relv
mon tho solo If thar surnlns nroducts to oh
ta;n ,he oo,,forts Of lite and nav their taxos
wo,,d have these sources of revenue left nm
On their hands to rot in the crib or orainary.
Those who desire to promote these measures
If nrohibition seems to be actuated by fears
of want for gallant soldiers IN the field.
But there is really no occasion for fear
Breadstufs are. abundant in the counliS !.
And they should be careful while endeayor-
ing to guard the army against improbable
want, not to inflict certain suffering upon
whole classes of the community. The de-
mand in our army of some 100000 men is
not one-tenth of the demand in the whole
South. And. in taking care to preserve
supply for. the army we should not adopt
measures which will severely Cypress the
farmers and compel exorbitant prices to be
paid by the large consuming population OF
the South. 49,.
have intimated the effect of speculation
will be an advantage both to the farmer and
the consumer. This will be evident upon
brief examination OF the subject. Specuia-
ton only tends to raise prices where the
commodity is so scarce that it may be bought
up and monopolized. Such is the case in the
South now as respects salt and medicines.
Those articles are so scarce that comblna-
ton of capitalists can buy up the entire sup
ply and hold them at their own prices. But
where the commodity is so abundant that
Lat counot huv oil ryr, OF rnoa Tho