The Portland daily press., 1866-11-22
The necline in Pork.
PORTLAND,

The Decline in Pork.
Our prices current, published yesterday,
show another heavy decline in the price OF
pork. Last week we noted fall OF ~ or 8
a barrel This week there is an addltional
tumble of s2 or more. The following COM
harrison will show the falling off in This mar
ket within month:
Oct. 20. Nov 20.
Clear, $SS9lo s3a9S5
Mess, 34@9331 2t012S
Mess pork was sold in NeT York last Sat-
urday at S21.25 to 22.3s. The supply of old
pork is said to be unexpectedly large owing
to the high prices and diminished consump-
tion during the summer and fall. The export
trade has been restricted by the same cause
Advices from Great Britain indicate large
supply OF hogs there, SO that no demand for
American pork can be expected from that
quarter unless at greatly reduced prices.
Add to these facts, the great corn crop and
the immense number of hogs raised at the
West this year, and it will be seen that a
heavy decline was inevitable. The great
Packing houses at the West are waiting for
the market to settle, and additions to the
present stock come mainly from Eastern
packers.
The decline is not confined to pork Beef
and mutton exhibit the same tendency.
Here are the prices of cattle, sheep and hogs
IN New York, in the middle of October and
the middle of November, as quoted by the
World:
Oct. 10. Nov. i5
Prime beevos, 17@l73c 1i@14gc
Prime hogs, 110l1Sc S0 SIC
Prime sheep, GO ic 5l@ &c
There is no doubt a very large supply of
stock in the country. Beef cattle are proba-
lily less abundant than sheep or hogs; it will
take more than one year, or two, to repair the
enormous waste occasioned by army consump-
tion; but the abundance and cheapness OF
poultry sensibly diminishes the current de-
laand, and prices are yielding as we have seen
shove. Western men have been losing, it is
said, at the rate of $500 carload on cattle
and have still been sending them forward
rather than take the risk OF waiting.
What is true Of the pork market and OF the
all the commercial centres there is an &C.
cumulation Of produce and fabrics. OF course
there are some exceptional articles, but this is
the rule. Gold is not an exception. Imports
have fallen off somewhat, and the November
payments OF interest in gold ON the tive-twen-
lies have enabled the bears to have ii all their
own way. Buyers, under the circumstances
are very cautious, and sellers who are Obliged
to carry accumulated stocks, are inquiring for
money tc help them over the pinch. There
Is no danger ola general crash, Tor out of debt
is out OF danger, and the business of the coun.
try has been conducted of late years more
nearly ON cash basis than ever before. -
some individuals will suffer; we hear of fail
rues already at the West; but there will be no
grand catastrophe. Ii lower prices are CON-
ing to stay, business will start on lower and
safer level; though the stagnation will I'M
doubtedly last till Congress assemblies and de
velopes its policy.
Ofcourse the theorists will be busy with
their explanations OF this state of affairs
One set will insist that the scarcity of money
CcCdslOAcu NY ne Stds adLiOl Vi lfdue ana the
effort 10 carry large stocks, should be relieved
by new issue ofcurrency. Another will pre-
scribe heroic reduction of the currency
Still another will call for an immediate re-
sumption Of specie payments, aud if that
were practicable, it would perhaps be less
painful than cutting off the tail of the curren-
cy by inches In our opinion any policy is
Letter than none. Trade is very elastic and
VIII accommodate itself to almost any fixed
conditions. Uncertainty is its bane. If we
cannot be cure OF the best policy, then let us
have the best we can get. Let Congress- lay
down its ultimat on the reconstruction
question, refer the matter of impeachment to
competent committee, expei John Norris
sey, and then take up the recommendations
Of the Secretary OF the Treasury and in one
way or another dispose of them finally. The
retail butchers have also duty TO perform.
We solemnly insist that consumers have an
interest in the decline of beet pork and NUT
ton land one turkey at reasonable rates no
more makes Thanksgiving than one swal-
low makes a summer.