The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-07-20

Inc EGCeuI huNhuGS III kuS RllIC Vi
breadstuffs at season OF the year when
the rev harvest usually operates to de-
press the market, has occasioned no lit
tie surprise among the general public,
and appears to have been somewhatun-
expected even by the trade. The grow
ing crops were known to be unprece-
depteti in all parts OF the country both
for quality and quantity, and the mid
die, or later part of July was generally
looked forward to as the period when
consumers might expect relief from the
prevailing high rates. But in place of
continued reduction OF prices we find
that the decline which commenced in
consequence OF the large arrivals from
California, aud in anticipation OF the
growing crops, has not only been
checked, but iu great part recovered.
1t is true quotations have again receded
little within a day or two but not TO
an extent sufficient to benefit the gem
eral consumers. We hear 1t asked,
therefore, on every side what are the
reasons for these high prices at a time
when material reduction was reason
ably looked for.
In the first place 1t is apparent that
the advance is by no means to be at
tributed to the stereotyPed charges OF
speculation on the part of dealers. 1t is,
Il
that 1t cannot be traced to any of the
usual eleventh hour discoveries of fail
ures of the growing crops. a very
large harvest-prObably superior to
the highest average of the most pros
porous years-seems to be placed al
most beyond the possibility OF doubt.
The real cause then is unqueslioDnbly
the short crop of 1866, and the dehcien-
cy OF existing stocks TO supply the or
dinary demands for consumption until
the new crop can be rendered fully
available. The high prices ofthe spring
and early summer had the effect of
bringing into the market small parcels
of wheat, such as are usually retained
by farmers fer their own consumption.
We had exhausted all our reserved
supplies from every source. In TACT,
the stock was SO short that the narrow
margin left to meet the want of con-
sumers just serves to reveal the terri
BILE dangers OF famine prices-and fam
inc sceues-which we have barely es-
capped. Another short crop would un-
dOubtedly produce the most painful
| results.
The new crop, then, finds US almost
totally dependent upon its bounty. II
also finds the farmers no less depend
ent upon new supply than the gem
eral mass of consumers. The conse-
quence is that the first fruits of the
| harvest are held for the support of the
| producers in place of being sent prompt
| Iy TO market. Especially Is this so In
the South where the new wheat Is sent
to the mills for local aud home con-
sumption. The advance supplies of the
crop which usually seek the general
market, are detained at home to supply
the most pressing demands. The con-
sequence is that the supply at the lead
| ing commercial centres Is not kept up
aud prices necessarily advance. On the
\ Il. l.. -. S1,F Ft,Ha UarUu III -
amounted to only 245.OOO bushels
against a rather narrow supply of only
356, 900 bushels on hand the preceding
week. In this reduction of 1ll,OOO
bushels in this market We have prac'
| tical illustration of the causes OF the
advance in prices. AT the great grain
centres in the West also there Is SINH
lar diminutions of the stock on hand.
Another case that must operate to the
| prejudice OF our breadstutfs market is
the deficiency of currency in the South,
so that il has been impossible to speed
| lily send forward the new harvest to
market. Producers exhausted all their
capital in planting the crop, and have
no means TO move 1t. Then again, the
crops were to large extent cultivated
on shares by the freedmen, and in some,
| if not all the military districts the
Freedmen's Bureau officers Insist that
the freedmen shall receive their shares
of wages before a DuShel OF grain cal
be removed. This is condition of af-
| fairs that demands the attention of
| Northern capitalists, who would do
well TO consider their in erests in rela-
tion TO making the necessary advances
! for getting the products OF the South
ern harvests to market.
Another noticeable feature of the
breadstuf1s market is the scarcity of
the superior grades of wheat and flour
as indicated in the higher prices of the
best qualities and brands. But few
weeks will undoubtedly work an en-
tire change in the market, and we shall
see activity and low prices again, and
with them. may look for general ami
nation. Indeed, it is not too much TO
affirm that the immediate business in
| terests of the whole country depend
upon the promise OF the present har-
vest, and no improvement is 10 be
looked for until the golden products of
the South and West shall have been
transferred TO, and invigorhted the
great centres of life and commerce.
THE Catholic and Protestant papers
of Canada are squabbling over a point
connected with Surratt which may con-
tain In it more ground for sectaraIn an
imosity than for legal evidence. The
Montreal Witness has taken up the
case of the two Catholic priests who
concealed Surratt in Canada, after his
dight, and denounces them as virtually
in completely with the assassination.
On tho other hand the Montreal