The tri-weekly news. [volume] (Winnsboro, S.C.) 1865-1876, 1866-07-07
High Prices Ahead

| i"o prospects Ior Ile immediate fin
ture are nniavorable to the presump
t,'h tnat there Will ibcaHy reduction il
The prices either ofcohmodities or coin
The propheses oil pfrsons who pos
! sess peculiar facilities br arrivino NJ !,
pretty correct cstlmata'of future values
arc very gloomy, and bont most de6id
rdlyto their enlancerbens. The com
ing crops of both orr great acricultura,
prodncts--brcadstulTs a,d cotton A:.spS;Sl
be far below the avcragh As we noffiS.
ed day or two ago, ills the opinion q
Mr. W. II. Langley, otOhio, who has
taken great pains to investigate tho mat.
ter that the grain crop will not exceed
one'third the average OF former wears
and he predicts that wo snail have the
highest prices of breadslnfls and MANY
other Products Of the soil'and necessa-
RES of life, for one or two years, that we
nave seen. The cotton, crop has also
suffered very severely during the spring,
ana the present anticipations are that
the producc will not be more than a mil.
hon and quarter bales, or less than
one-iourth the product of the crop of
1859. -
1t IS, therefore. evident that we shall
have no grain that we can spare for ex-
portation, and our exports of cotton
must be limited. IT is not at all uncer.
tam but that of the formerwe may have
to become Importers, if the wants Of the
people are to be fully supplied for there
will be 10 old stock to fall back upoh
as, according to Mr.. Eangley's state.
ment, the stock of wheat and -four in
the country is, at the present time, SO
nearly exhausted that it cstnot las, lopgar
than if SO long as the ~. Sai .-of new
The short supply will not only raise
the prices of both the products, but the
effect Of tile depreciation in the amount
of our exports, caused by the failute in
productions, will be to raise prices gene.
rally. Importations of foreign merchants
disc will commune, and though probably
it will not be as large MS it has been of
late, still it will be of siifficent an a.
mount to cause heavy drain upon our
supplies of specie and the precious met.
ais. The foreign merchant will require
an equivalent for the goods he sends us,
and if we cannot pay him in kind, we
must do SO in coin. 1t is inevitable then,
that gold will be required for this pnr-
pose, and the demand forit bids fair to be
greater that tits generally admitted.
II is fallacious to suppose that the
European war will tend to any large
quantity of specie being sent to this
country for investment in our securities.
Should hoslilities become general
throughout Germany, it is more than
probable that many Of our fve.twen-
ties, which have been purchased by the
Germans. will find their way back to the
United States. AS our people too we'll
know, the tramp oil armies is not benefi.
cial to the production OF ,he necessar ries
Of life. Germany will have to purchase
these abroad wherewlth to feed her ar
my and her people. She will have to
pay in gold, for foreigners will not take
her paper securities. Onr own short
supply Of grain will preclude us. from
sending her any and consequently we
may expect that she viii send to us for
gold in exchange for~l the United States
securities which shc holds But some
| persons may ask; "Will the German
people bart with those securities for the
purpose of investing the proceeds in tho
obligations Of their own Governments;
and thus supply them with the specie
they will need g.. We all know that
whepa country is,I war the patriotism
Of it's people generally tends to such a
result. Such was the effect, both North
and South, during our late struggle, and
there is no reason to believe that the
Germans will not be influenced by a
like patriotic impulse. '''''"
Evrything, then points t. IN advance
! inprices. The prospects O. the future
are certainly gloomy, but there is no
| good in shutting our eyes to them. We
must prepare TO meet the hard times
| when they arrive. Another year will