The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-09-30
FINANCE AND TRADE.
CiuanciaI and Commcreinl.


The Horld of Thursday says We fear
that all hope of seeing breadstuffs at
reasonably low prices must be post
poned for another, yoar. The yield of
wheat just harvested in the: United
States was unsurpassetl in quantity and
truly excellent in quality; but whereas,
in former seasons, we carried over from
twenty to forty million bushels OF
whea1, we doubt if a million bushels oil
old red wheat could have been aggre-
gated in the markets Of the Cnitea
States on the first of August last This
makes a great difference. The winter
wheat, being the first to ripen, was rap,
idIy absorbed for consumption, anu
from this cause the supply now three
months from the first receipts of new
wheat begins to show signs of exhaus-
tion. But the chief support to prices is
not to be derived from any deficiency in
our supplies. We believe the United
States has raised more bread-that is,
the quality as well rs the quantity OF
the wheat being taken into account
than in any previous experience, prices
considered, except in the cases of the
Irish famine and the Crimean war.
A late number of the London Saturday
RerieW discusses at some length the
needs of Western Europe and whence
they are to be supplied. The English
crop is admitted to be from ~ to % per
cent. below the average; harvested in
prctty GOOD condition, fortunately, so
that it may be made available at once
The R,ricr then proceeded to remark I:
/ France has harvest quite as bad and
quite us disappointing as our own;
! her merchants have been acting with
great promptitude and determination,
and it is understood they have forstalled
our own in obtaining the earliest supplies
| TO be bad from other countries, while
they have acted freely in our markets,
and have taken from us considerable
quantity OF our homegrown wheat, and
! diverted much of the Russian supply
that was intended for our ports. The
French stocks of old grain are, like
ours. entirely exhausted; indeed IL may
without exaggeration be said that,
when the new crops were gathered, Deth
countries were OH the brink of a famine.
In looking round, then, for the sources
whence we may expect to receive our
supplies, we must look OH France, which
usually gives us q competitor. 1t Is
somewhat too early to determine very
contidcntially what the crop of Europe
| is. and therefore we must conhne our
selves to general estimates. South
Russia, orr most constant and reliable
provider, has fairly good crop, and
NAV be expected to give an average
supply, although not SO much as during
the last season; the harvest of Poland
is reported TO be poor; Turkey, and the
countries that have their outlet by the
Danube, have good crops. The great
crop of the season is in Hungary and the
Banat. At this early period the resour-
ces of the railways and the river craft
have proved to be utterly inadequate
for the conveyance of the large quaint
ties of wheat ready for delivery the
stations are choked with produce, and
! the railway managers are unable to re-
cciyc the merchandise offered to them
The surplus which this country has fol
eynort will, for this reason,
probably he distributed over many
months, instead of being thrown on onr
market early in the winter. France
has secured all the early deliveries OF
this country. There is no definite IN
formation as to the quantity grown in
the countries having the Baltic for their
scaGOard. The wheat crop IS reported
in good condition; and as the supply
! from those districts is pretty steady, we
may expect average Shlpmehts-lesS,
however. by what may he required for
France. Belgium has bad crop, and
will require to import. Spain has a
very small crop, and has already made
lamentations from MarscilleS. Crossing
| to Africa, We find that an almost total
| failure is reported from Algeria, de-
handing urgent measures OF assistance
from France; but Egypt appears to he
( a land of plenty again. and Will no
doubt send us fair supply. We be-
! lievc that America has good crop tins
wear: but as there was no stock OF old
! grain left, and as the North wi shortly
have TO supply the sonth, we do not es-
/ innate that America will he able to
spare more than the average OF her eN-
ports 10 Europe, which We believe for
the last twenty years has been about
: two millions of quarters in wheat and
fiour per annum. This quantity we
shall have to divide with France ana
| Belgium. "a the whole, We shall prob
ably require to import fully nine mil
! lions of quarters of wheat aud Hour to
provide Tor our animal cUnsnmation
and as We have France against Us in
I tie markets of the world. We may look
for IL maintenance Of fully the present
rates of wheat. We shall esteem IL a
fortunate circumstance if. from time to
time, they have not to be exceeded in
order to command suilicicncy to meet
orr wants. g..
Tie Reriew is mistaken in supposiug
we shall have to feed tho SoNth. That
is fortunately not The case. We may
, send her some of the lower grades OF
wheat and iIour in exchange for her bet
ter qualities that will he all,
The receipts Of wheat Mt the lake ports
now amount to abont 100000 bushels
daily, with every prospect that they
will be maintained at very full figures.
We s.al! soon have full supplies at this
market. John Bull will do well to cred
it the statements Of the Hepey for If he
waits till the last moment before pur-
chasing, emay find himselfbadly pinch
cLed. California has begun shipping to
him freely, apd &ew York hRs done some
thing for him. But his wants are great,
present and prospective, and he will
find little advantage in holding back.
Another good crop in the United
States and two good crops in Europe are
necessary before the equilibrium in the
supplies of brcadstuffs can be fully re-
stored,