The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-06-26
Cram and Trade.

The Gompsereial asd FreHeiql ChffoH'-
lcle has On article pPon t iis tneme |,
which III full of important truths and
valuable suggestions. Itstates the fact
that notwithstanding high prices have
stimulated the productive ability Of the
agricultural sections, and labor-saving
machines have in part supplied the
place of men removed from the paths OF
productive industry by the war still
production has fallen much below its
proper relation to consumption. The
Chronicle then continues Us follows:
In other branches of industry, large
strides have been made toward the res.
toration of the normal condition Of at
fairs. The factories and the mines
have produced largely; and, with a
comparatively. ample supply prices
have materially declined. The tail in
values, however, has been very much at
the expense of the capitalists, who,
owing to the high prices ST articles OF
food have found it difficult to secure q
reduction in wages corresponding to
the decline in the prices of their pro-
ducts. simultaneously with the decline
| in prices of raw materials and manu-.
facturs. the value of breadstutfs and
provisions has steadily advanced, until
Quotations have reached unprecedented
| tigures. 1t is not necessary at present
to enquire into the cause of this slngu-
lar movement; suffice it to say that IL
has placed our manufacturing lndns-
tries generally in a most embarrassing
condition: for while it has become i'm
possible to carry OH operations other
wise than at ruinous losses without o
decline in labor, it has been found I'M
1 practicable to effect any adequate re.
| duction of wages while articles OF 1000
remained SO dear.
At this most critical juncture OF al
fairs, Providence has come to our re-
lief. A winter of unusual scarcity and
a backward and apparently ungenial
sprinp have nursed the nucleus OF
rich harvest. The result is that we
have the promise of the most abundant
wheat crop on record. Owing to the
GOODNESS of the spring, the corn crop Is
4 backward, and in low lands has suffered
to an extent necessitating second
planting; but this will probably result
in nothing beyond a late crop; and,
considering the large area said to he
planted, there is good reason for hoping
That the yield of corn will be very am
| pie. Reports from the South indicate
that, instead of having to draw Its sup.
plies largely from the West, as last
wear. that section will have consider
able surplus for export. In the warmer
ATTITUDES the wheat crop is already
ripe, and accounts from Charleston
state that, within few days, there Will
be at that port a supply available for
shipment to the East.
A large crop will of necessity effect
an important decline in breadstuffs,
and this point is thus elaborated by the
Chronicle:
It would be difficult to overestimate
the Importance of the prospective
cheapening of breadstuffs to the com
merce of the country. Lower prices for
wheat and corn will induce all increase
of the hog crop; which again implies
cheaper pork: and, with pork at moder-
ate prices, beef and mutton must cores
pondinsly decline. Thus with the sta
pie food products cheapcned what
should prevent the working classes from
yielding to the general desire of employ
ers for lower wagesf This result real
lied, we have the great impeachment to
profitable production removed, and the
necessary relief furnished to our manu-
features. The handling of the crops
also will give employment to a large
amount of unskilled labor, at present
idle ana suffering; while their
| transportation will augment tho -arn-
ings of the railroads, and give
freights to large amount of ton
mage at present idle. Cheaper food car
ries with it an increased ability to pur-
chase other commodities. Under the
late high prices of -four and animal
food, families have been compelled to
economist their consumption of dry
goods; dwellings have been allowed to
run out of repair; dilapidated furniture
has not been replaced; social expendi-
lures have been curtailed; travelling
for purposes of recreation has been less
common, and Injuries have been par
TALLY eschewed. With a reduced cost
of the staple articles of subsistence,
there will cease to be such an urgency
as at present exists for the curtailment
of expenditures in these and many 9th
er ways; the result of which must be
seen iu All enlarged demand for other
products.
Nor must it be overlooked that an
abundant harvest will have whole
some effect upon the public finances
and credit. With a general improve
ment in business. the revenues of the
government will be sustained; and this
result will be all the more important,
considering that the government has
anticipated decline of income stimuli
taneously with an increase of expendi-
lures. Unexpected ease in the finances
will also furnish an opportunity for
again contracting the currency; which
would he another element promotive
of confidence and favoring the approach
toward normal condition of affairs.
We are not, however, so sanguine as
to imagine that an abundant harvest
will rectify all the arrangements con-
nected with the present condition Of
affairs; to accomplish that must be the
work of many harvests. 1t will, how
ever, give great impetus to the pro-
cess of recuperation, and will place us
within nearer sight Of a sound condition
of business.