The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1868-11-21
a MIsTAKEN POLICY.

At this season Of the year we have.
for wears past. had occasion 10 rive A
word of warning IA the Western ear-
nnefs and 0rafn 1aalers as ID tbsilan.
ger of hpldinp hack nroducc to theft
own hurt. This year Ono occasion
recurs again. Holders of grain at
the West are unwjliing u odsent tbe
prIees farrtl,eif produce offered 4 the
Fast. and are eonseauentlv keepInp
on hand am enormous sSpplv. and
are likely to keen il until after tie
close Of navigation. WHAT'S fine re-
.sult of this palirvq IN Tho 3irst
place. all the grain sent 10 the sea-
board. between the close of nayiRa-
tion and the openinr of the canaIs
has to he TRANSPORTED by rail- at high
en- rates Of freight than would have
been paitl, had more bsan sept enrli-
er.. during the period Of NAVIGATION
There being no eomnetition with the
railroads during the winter months.
and the roads being crowded with
produce, the railroad Companies are
free to make their own terms fo1 car.
lrying the, crops. and do not neglect
to charge high rates. II would, at
first sight, seem probable that, nv
keeping back supplies at The West,
the prices Of breaastuf at the East
hmay be kept somewhatfirme during
bthe winter; and vet 80 long as 1t Is
known that the supply Is only tenn
porarily held back, and must soon
be pressed on the market with a
rush, there can be little difference in
/, prices FROM what would obtain were
there more of the supply held at the
East So long as so much grain is
held back 70 come forward on the
liopening of navigation, the Eastern
dealers are naturally kept in the po-
| sitiOn of "bears,u steadily depressing
| 1.-The market; while were 4 larger por-
tion Of the crop held here, The posi-
tion Of the local dealers would ne
eessitate their assuming the position
of "bulls,n and sustaining prices;
(which would so far favor the West
1 getting better prices for the balance
\ Of their crops to come forwardsiA the
IspTing. Moreover, the higher rates
of transportation paid foTeaTrying on
the railways during the winter, have
really to come mainly out of the
pockets of the " estern se!lers;which
/ Of itselfis more thana set 0ffaeainst
Ianyhigher price they may be pre-.
stunned to have exacted through hold
ing the supplies in their own hands
Now, what is the condition OF the
/ market in the spring, when the sup.
.,ts.. l. oTI I,,.I- N, 1-,,.-l a. q ,.,s.. =,
4 are sent to the Eastern market? +? In
anticipation of the opening of navi,
gatisn, the Eastern dealers com,
mence to depress the market In an.
I tiGipation of large arrivals, and hold
back from buying, because they un
derstand the necessities of the West
obllging it to realize. Then Western
banks want money, to meet the Re,
Iuuirements of the spring trade, anG
can no longer sustain the grain deal
ers in. holding their produce. Tho
| farmers want money for planting
| and have therefore to sell their crops
/ Tits thus Inevitable, that O large
! amount of grain must be thrown OF
the markets of the seaboard early ii
bile bHIllgf 70 btlH8 luhb W llah NAAi
4 East thinks proper to give 1t. Tht
EWest, with its enormous boards 0
grain upon its back, and unable Il
carry Il any longer, and having suf
fefed severely from paying larg
amounts for storage and high rates o
interest, is most completely at thI
mercy OF New York; a position whicl
1t certainly cannot occupy withou
injury to its interests. Under suel
circumstances, it naturally gets 1
lower price for its grain than 1t WoHlt
have obtained five or six months ear
Elier. Yet, in spite Of these great dis
Advantages, we find that section
from year to year persistlng in tina
4 policy. We are not surprised tina
the Western banks should fail Il
diseountenanee this course, for it en-
ables them to employ their fund
during the winter, at high rates 0
interest; it would seem strange, how
ever that the grain dealers them
| selves do not learn more from eyne
Renee @
| l0EIe rs 4DDAiEHtlN SOlllB. uAtA0E