The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-11-17
The Present High Prices of Bread.
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With the approach Of cold weather
the prices of commodities necessary to
hesustaining ofhuman life, or ensuring
its health and comfort, generally be-
come more amatter of concern than at
other times. With an inflated, debased
currency, and immense taxes, affecting
directly every employment, prices re-
main high, and while legitimate busi-
ness and industries are thus depressed,
enormous speculations continueto go
onin the necessaries of life. There has
been a decline, 1t is true, in certain ar
ticles-mess meats particularly-by the
breaking down of a speculative combi.
nation, but the extraordinary price
which breadstuffs maintain in the
country at this time is most noticeable.
The lowest quotation for any brand of
-four in our market-that is, North
western super-is Sl075 per barrel, with
Ohio at S11 so TO Sl1 20, while domestic
family brands range from SIS to Sl7 90,
or about 81 higher than this time year
ago, and good wheats are selling at
from s. 10 to 50 IS per bushel. 1t is adj
mitted that .theIe was some failure of
the crop in this part of the country, but
1t is merely local. In New York, by a
comparison of the article of -four for
the month OF October, in the past four
years, the rates of last month show a
range of 45 to so per cent. above the
quotations ofone year ago on all except
the Southern qualities, which are 20 TO
so per cent. higher.
The New York Financial Chronicle
says that, compared with the same date
of 1853, when gold was at about the
| same point as now, present prices are
go to lbs per cent higher. Reducing the
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ing would represent the gold value of
the Ohio super grade of flour on 3lst of
October for the past six years:
lS...-.................S85 80 90
ISS2 " 1862 ............. 50
It will be seen from this comparison
that this particular brand of Hour is
now ~ per cent higher than at the same
period OF any of the last six years, and
20 per cent above the price of two years
ago. ..a
These increased rates certainly do not
proceed altogether from deficient har-
vest, heavy foreign demand, or short
the commissioner of agriculture, the
wheat crop for the whole country is of
nearly an average amount, and beyond
the average quality. The corn crop is
estimated by him, also, to be one thou
sand millions of bushels, or sixty-five
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For the stormy weather in August and
September, which, it was feared, would
tujure the growing crops, was found to
| leave them unScathed, while the root
crops are generally ample in yield and
exempt from disease. The shipments of
flour TO Great Britain, our chief foreign
| market, have been somewhat larger
than last year, but the increase has
been nearly compensated by a largely
diminished export to the continent of
Europe. The exports of flour and
wheat for the last two months are less
than the average for the same period of
the last two years, and are quite nomi-
nal as compared with those of 1868.
There is, therefore, nothing whatever
in the export demand to account for the
prevailing high prices; nor is there
anything in the condition of the for
eign markets to justify the superstition
that the demand from that source will
be such as to warrant extraordinarily
high prices for American breadstuffs.
All advices, indeed, assure US that the
British grain crop this year is good, and
their prices may be lower than ours.
The only cause, in fine, to which the
present advance has been ascribed, Is
the mania for speculation. Western
dealers hold back their produce, and
the result is seen in the following re-
ceipts of flour and wheat at tide-water,
at the North, from the opening of navi-
CATION to the close of October:
,,,,.,- 1855, 1855; 1864.
Wheat, SaSheisS $3.50 1855 o2 1sS5S6 SS
With these light receipts at the sea-
board, and within two or three weeks
of the close of navigation, It is not sur
prising that the idea of a short supply
for the winter causes extraVagant spec
ulation. But let the grain holders look
out and stand from under, else they
may be caught just as the dealers in
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