The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1863-08-08
The Price OF Wool.

We have lately received good many
letters of the same tanor of the following.
dated Battle Creek, Mich. July IA:
Il. Would it be good policy TO hold on
to wool until better prices are offered? We
are offered here So to 60 cents per pound.
I'll. Would you accept of 3 ! per bushel
for old red Wheat9
iii. Does the rise and fall of gold cause
fuctuating value of produce?
NV. When this war shall have ended,
will we have what is termed hard times?
1t SO what win be the cause OF il? We have
made no foreign loans, and our only debts
are at home. tE*T
"V. When our vessels are captured by
Rebel privateers and released on giving
bonds, are they good and negotiable. and
can they be collected of our Government?
"VI. wrote this to gain information
Will you please inform me why victory or
defeat causes the rise or fall of gold?
Il am a farmer, and would like to be
posted, and would like an honest answer,
which l know you will give
l. We have intentionally said nothing
publicly about wool. beyond giving correct
raports of the market, showing its regular
decline. and also the decline of sheep, from
which the inference might be drawn that
the decline of wool was not speculative
movement.
Early in the Spring. we answered pri
vate letter involving tho interest of q COM
munity of people in a large lot of wool. in
which we advised the sale at 65 cents a
pound at the farm and at the same time sta .
ted that if Grant took Vicksburg gold would
decline, that if it fell below 40 per cent, we
believed wool would go down to SIS to 60
cents per pound, and perhaps lower, and
tina. it would depend upon the events
Of the Summer whether it rallied 10
Autumn above those figures. Previous to
the war, the average price OF wool Tor years,
we think. did not exceed 40 cents a pound
We have the remo:es: interest, direct or
indirect, beyond the price of our wardrobe,
which is not extensive, in the price of wool,
but il we did own a clip in Michigan, of
good fair medium wool. such as is usually
produced in that State. and were offered
sixty cents a pound for it, We should say, a
the auctioneers do: "the gentleman viii!
please leave a deposit" We certainly
should fear that the bidder would hear
news from the South" which would in
duce him not to return.
ii. and Ill. The price OF wheat, which
is an exportable commodity. is certainly eff
fected by the rise and fall in gold, and with
that at 25 per cent. it appears TO US that one
dollar bushel for wheat in the interior
Of Michigan is all that could be reasonably
expected.
~. The cause sof "hard times" when
this war is ended. will not be on account of
the hosts of unemployed men. Men who
have been three years in camp. do not
readily return to the industrious pursuits
of civilized life. and there i. no cause of
"hard times" in any country so potent as
that of unemployed hands. The National
debt will blow sway among the chat that
national industry produces. In the trans
ition state from peac, to war, and the re-
verse. national industry is apt to be para
lyzed.
It is SO at the end ofthis war, the farmers.
who have lately felt prosperity. will be apt
to feel +. hard times" When there is no
army to feed, and when there are many idle
men. because We still import many things
that we should produce by American indus
try, farmers will realize that war times are
not the worst times, if that war is waged for
a holy cause.
V The bonds given for the release Of
vessels captured BY pirates, will be "good
and negotiable" when the rebel government
of JED Davis is established all over the
United States, and not before.
VI. Let US answer this question Yankee
fashion. II You had gold to sell. which you
held fifty per cent. before the battle of Get
tysburg. would you have been rather glad
TO sell at 40 per cent. afterward Or al 80
per cent after the fall OF Vicksburg and
so on down the scale as the Union prospect
rises.
In conclusion. be assured that the price of
gold does regulate the price of wool and
wheat.