Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-03-01
ilailu Simon and Anlerian.
SUPPLY AND PRICES OF BREAD-
SVTrEEE

sElFES-
From the New York World
II is to be regretted, for the sake Of the
interests of the seaboard States, that the
prospects for cheap bresdstuffs are not so
favorable. as could be wished. Prices are
by no means high now, after the considera-
Die decline thai has taken place during the
past fortnight; but they have been much
lower in times past and the hope has been
entertained that minimum figures would
again be reached. These hopes must now,
Il Is evident, be abandoned for the present.
Nothing but that event OF most doubtful ad-
vent-the resumption Of specie payments
is likely 10 give us lower prices.
1t has been supposed that prices must
necessarily decline to figures at which the
surplus of the country can be exported TO
Great Britain. But all who reflect how
small proportion Of the largest crops is
exported, and how serious was the failure Of
the crop of wheat in the border States last
year, will at once dismiss this notion; we
shall be fortunate il we have enough for
home consumption. The considerable sup
plies which we have heretofore received from
Canada will be materially curtailed on the
termination of the reciprocity treaty.
A review Of the Western markets shows
that at no point is there supply Of those
fine winter red wheats from which our best
family fours are made; and that the prin-
cipal reliance of millers is the remains Of
the crop Of 1854 In the Ohio Valley, the
failure Of the wheat crop was probably more
complete in 1866 than in generation. The
only point at which there is any considerable
supply of reliable wheat is Milwaukee. The
Northwest raised last year a large crop Of
fine spring wheat, and il enters largely into
the manufacture of our best hours. The
abnormal course Of trade is illustrated by
constant shipments of wheat from Milwau-
kee 70 ST. Louis as well as Louisville, and
other Ohio Valley markets.
Stocks in store are everywhere light. In
Milwaukee there are only about a million
bushels Of the first quality Of wheat, with
receipts not sufficient 10 promise any large
accumulation. There is about the same
quantity in this market, with our city mil
lers running 10 their utmost capacity. The
stock Of inferior wheat is more liberal, but
much OF it is so very poor that it really
ought not 10 be taken into the account Of
stocks at all.
In -four there is probably even greater de-
fciency of sound qualities. The receipts at
this market, since the close of navigation,
have scarcely exceeded the foreign exports.
The large demand for the Southern markets
and the local trade has been supplied entire
ly from the stock in store and from the pro-
ductiOn of local millers.
We have reached period ofthe year when
the demand for the Eastern States and the
British Colonies on the Atlantic coast ex-
. periences a great increase. The rivers will
soon be again navigable, and the stocks laid
in for the winter are exhaused.
IL is, indeed, a novel assumption that the
United States have not raised wheat enough
for their own consumption. But there is
reason TO fear that the sequel will prove il to
be well founded. The great rush of popu-
lation TO the cities and manufacturing States,
and the absorption of energies, where cotton
may be raised, in the growth of that staple, to
the entire neglect Of breadstufis, indicate an
increased home demand; while the unques-
toned partial failure Of the crop in fully one
half the wheat-growing States, together with
the general falling of in agricultural ener-
gies, place the fact Of diminished supply be-
yond dispute IL the home demand be in
creased ten per cent. and the supply be d.
minished ten per cent, the effect of a heavy
export movement is made good in the mar
ket; in fact, il may be doubted if twenty per
cent. of a crop was ever exported.
We have large crops of corn and oats, but
prices are now so low that deliveries at the
great receiving markets at the West are
greatly reduced, while an active export de
mand is rapidly reducing the stocks in the
eaboard cities. A moderate supply of rye
going forward 10 Germany at very low
price. But the export of these articles can
not long continue; for, with the high prices
n -
rule the home demand for the coarser stufis
will unquestionably be increased