Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-08-31
EFFECT OF THE WAR UPONTHIS
COUNTRY. A

COUNTRY.
The New York Bulletin, paper de-
voted to commercial and financial interests,
shows pretty conclusively that this cOun-
try viii not be benefited by the war in
Europe. The tables furnished by that pa
per show that we have exported less of
our products, while larger supply of
foreign manufactures has been thrown
into our ports, than during the correspond
ing period of last year During the last
six weeks, the Bulletin states, ''ihe i'm
ports have been only half million dollars
below those for the same period of last
year, while the exports, exclusive of spe-
Gle, for the same time, have been Sc, 000,-
900 less than in 1862 The details fur
nislied by the Bulletin show that from
July 10 to August II our exports of f1oqr,
wheat, bacon and cheese were actually
less--four and wheat much less-than in
the same five weeks of last year. THERE'S
also a remarkable falling off in manufac-
turedtobacco and other articles. Of pork
and lard, and petroleum there has been an
increased export. The wholesale quota
tions exhibit some results for which the
believers in the proftableness of war were
not prepared. Thus, comparing prices at
the beginning and the end of the five
weeks, we find a fractional decline instead
of a large advance in wheat and -four, a
decline in petroleum, and a very decided
decline in cotton. Pork and mess beef
are among the few articles which have
moved upward There is no reason to
anticipate any material change in the di-
rection of things. The devastation which
is going on in France will greatly reduce
its supply of food but the poverty of the
people will so cripple their ability to seek
supplies elsewhere that the effect upon
our food exports will be comparatively
small. AT the outbreak of the war, the
question naturally arose as to how the
American market was to be supplied with
the silks, woolens and worsted fabrics
which we import in large quantities from
France and Prussia. The Bulletin says !:
Large orders had been given by our
| importers both in France and Germany,
and but few of the goods had been actu-
| ally received, although large quantities
were in transit The supplies to arrive in
| August, September and October, however,
were regarded as subject to the chances
of war; the conclusion, therefore, was
| generally accepted that the market must
be inadequately supplied with Continental
| fabrics, and an active speculation set in,
| during which considerable quantities of
| goods were sold at advanced prices. These
early anticipations have not been fully
borne out. At present, the market appears
| to be adequately supplied with nearly all
| classes of goods, and few fabrics are selling
at above average prices. This disappoint-
| ment appears to be due mainly to two or
| three considerations. In the first place,
| the importers have carried over, from the
last two seasons, a considerable surplus
| of stock; for which, fortunately, they are
| able to obtain good prices. In the next
! place, there has been no actual deficiency
in the receipts of new goods. For the
five weeks ending Aug. 10, the total i'm
portations were $11, 042,0 or only
| 5000, 600 less than for the same period of
last year; and that there was no made
quacy of this supply to the demand is
| apparent from the fact the amount sent
into warehouse exceeded the Withdrawals
by nearly 5000, 900. Again, upon the
second thought, it is very generally con-
cluded that there is little probability of
any real scarcity of goods later in the sea-
| son. A state of war is not found suffi-
| Gent to prevent the expectation of goods
| from either Germany or France. The
French ports are not blOckaded; and
| although those of Prussia are,
yet, surrounded with a network of
| neutral railroads, it is found compare
lively easy to obtain outlets for the pro-
ducts of Prussia and her confederate
States. Considering that an effort will
naturally be made to find here a market
for goods designed for France and Prus
STA, it seems quite possible that later in
the season, We may have more dry goods
than our people require. We do not
overlook the fact that, in France, pro-
duction must be to large extent suspend
ed, owing to the panic, invasion, and
wholesale absorption of the able bodied
population by the army; but neither do
we ignore the circumstance that the home
market of France must be almost entire
ly destroyed, and that consequently for
eign outlet must be found for the stocks
designed for the fall trade of that coun-
try"