Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1867-12-11
why BreadstufTs are H;=b.

OF the correctness of the subjoined
theory, farmers by virtue Of experience
are perhaps as able to judge as well as
any class. 1t applies, however, more
to the farming communities of more
newly settled States than Ohio, al
though it is altogether without applica-
ton to this region:
When we consider the great shrink
age in values of nearly all kinds Of
merchandise, the comparatively high
range Of Bread Stuffs is rather remarka-
BILE, especially when the large contrac-
tlon of the currency is taken into con-
slderation- To this element of the cost
OF subsistence, is due much of the dis
tress among manufacturers, since a re-
duction Of the wages of labor is thus
prevented The present rather exalted
prices are, no doubt, due to the ex-
hausted supplies when this years crop
came upon the market, and something
more to the increased outward move
ment, though, according to popular
opinion, they are higher than the sur
rounding circumstances would seem to
warrant. Domestic manufactures, with
gold at 139, are now selling nearly as
low as in 1860, on a gold basis. while
our Bread staples cost nearly twice as
much as they did at the period named.
Many theories have been advanced 70
explain this remarkable discrepancy,
but we have seen none that comes
nearer the mark than one put forward
by a Chicago correspondent, whose
opportunities for correct Judgment are
superior. He writes:
When the war was inaugurated,
most of our Western farmers were poor
and in debt. Not one in twenty had
his farm free from mortgage. To sup
ply his family with the necessaries of
life, almost every farmer was compell-
ed to hypothecate his crops before
they were gathered, in order that he
might obtain the necsssaries of life;
and as soon as harvested, they went
into the possession of his creditors to
! liquidate his obligations In this way
he barely obtained sufficient for the
support of his family, and to pay the
interest on the mortgage which cover
ed his farm. This, as 1 have said, was
the almost universal condition Of the
Western farmer.
''To day it is no. so-all is changed.
The continued rule of high prices, fol-
lowing the immense consumption by
the army-and the appreciation Of
gold. doubled and trebled his income,
while his current expenses bore no
relative increase. The result was that
the farmer soon became independent.
He paid for his farm, added acres and
stock, and to-day, thousands and
thousands of our farmers have their
pockets well lined with greenbacks !;
have United States Bonds bearing
handsome figures laid away in their
tills; have wheat in their granary,
corn in their crib; fat stock in their
pastures: ''sheep on a thousand hills, "
and owe no man a cent. They are
not compelled to sell their grain or their
stock, and will not unless they get
their price.
"If farmer has a thousand bushels
of corn, he will hold on until he gets
his price, and you can't move him. He
much prefers to sell one-half Of it at 81
per bushel, and take his chance of sell
1 ing tne rest az tue sdluo AsuHS a. sOHo
future period, to putting the whole lot
into the market at one time and get
ting forty to fifty cents for it. That is
human nature, ct least the human ma
ture of our Western farmers. And
this they will continue to do until the
business of farming is oFerdone by
reason of its profitable character, or the
farce of a financial convulsion sends
thousands into the business, who have
failed in other pursuits. The whole
story IS in a nutshell. High -pFicss.
make rich farmers, and rich farmers
make high prices"