The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-11-13

w it'll moneysat one orr two per cent.
in london and Paris, with abundant
crops and the regular payment Of in
terest as well sas principal, the ten
dency of money is westward The
present high price Of cereals in this
country is not due to the action Of
spectators, to the want of currency
or failure of harvests, but to the Eu-
ropean demand--ade demand most coR4'
duciye to thefinterests of the United
States. aAil9GI Ie-taagf a3 HuitJfst
For ten years past, the average
price of wheat on the London Ex-
| change has not varied materially from
five shillings sterling a bushel. and
corn has been down to three shillings
and sixpence. The price has now
risen to nine shilings for wheat, and
! five shillings nd.eight pence for corn,
SO that the former can be shipped
with profit from New Y ork at two
dollars and two 2th rds, and the latter
at one dollar and one-t third The
London price is the key to. our
markets. There has been a partial
failure of the crops in France, Great
Britain, Spain and Algiers. Africa.
In ancient times, sent forty millions
of bushels of wheat annually to Rome,
but Egypt has substituted cotton for
| wheat, and the shipments from the
Black Sea will be chiefly absorbed by
Spain, Algiers and the South Of
France. Russia and Prussia will
find a large market in the North of
France and Belgium. Re- ata $40 4
Great Britain, as her papers esti9z
mate, will have this year to pay two
hundred and fifty millions extra for
breadstuffs. and will absorb the larger
portion of our suspius. The rise of
wages in Great Britain of forty per
cent. in the lastlten years will enable
the masses to consume. II
For many years past Great Britain,
under her system of free trade and
Cobden's treaty, has drawn her chief
supply of foreign flour and wheat
not content with carrying her pro-
duce of wine up to twenty three hun
dred millions of gallons, her produce
of beet sugar to four hundred million
of pounds. and her clip of wool to
one hundred and forty million
pounds.a has increased her pro-
duce of wheat by improved Gull
ture and carried it from fifty million |
hectolitres to-one hundred and eight |
million of hectolitres, or an average |
of three hundred millionsef bushels.
She raises littlel Indian corn, and the
United States, with a thousand mil
lion bushels, surpass her in this, but /
her oats. barley, rye and buckwheat |
are usually equal in quantity to her /
wheat This year Is an exception y
there is adeficit of at least fifty million /
of bushels in her productiono e bread /
stuffs. The deficiency in England is
large, but less than that of France for |
the surface devoted to grainin France
exceeds the whole area of Great
Britain, There can be little doubt
that we may find a market abroad for
eighty millions of bushels of bread
stuas. Nature, in her timely bounty,
will give large returns to our canals
and railways, VIII circulate money
through the West and enable it to l.
pay for imports and manufactures,
and thus smooth our way as we re-
turn. to a specie basis. 1t is a happy
coincidence that at the very moment
that we are paying or funding the lastsl
of our floating debt, and canceling
our legal tenders In the shape of
notes bearing compound interest, and !
depositing. our greenbacks In the
vaults of the banks and Sub Treasury
Ia benign Providence should give
US harvests compromising for the de-
fciency of Europe--Whiie the fore
cast which guides our finances by the
extinction of our floating debt and +,
of forty millions in annual {
interest, already far advanced and to
be completed in 1868, has enabled us h
to reduce our taxes one Hundred mil
lions, and VIII enable us to reduce IL
them, if we choose. one hundred and
Fifty millions more In the ensuing
year, cOnsentaneous with our return
to, specie. Then with the ordinary
expenses of the. nation thrown upon I
the customs as in former years-with ! {
a sinking fund of $50, 000, 900 supplied {
annually by few of the present i'm s
posts. but slightly felt, and interest of :
our debt paid by reduced taxes chiefly
on articles of luxury, with manufac-
lures and transportation liberated, =
with tariff carried half way back to
the rates before the war, and wages
md prices conformed to the specie
we may, on the basis of e
true. and solid prosperity. resume our
former career and honorably dis f.;
charge all our duties. It will then 4
be- matter of Indifference to the
,tockholder whether we pay our FIVE II
,wenties In specie or in legal tenders, f.
in gold.-Bostop Journal El
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Honor Your Business.
& e.