The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1873-12-13

THE PRICE OF CORN.

IRE fElCE OF CORN,
ihc sudden advance IN the price of corn
ana pork, right on the heels Of the close Of
navigation, when the price OF the former at
least is usually at its lowest figure, has caus-
ed some surprise and many hastily attribute
it 10 speculation and argue that the rise will
be but temporary. An intelligent dealer at
Onarga, however, takes different view OF
the subject, and thus expresses himself in IL
communication IN the Chicago Tribune:
When wrote last spring, advising farmers
to "go slow" in selling their corn, somebody
out Freeport way, Eureka, | think, took up
the cry on the other side, and talked about
three fun crops on hand, Now is the time
to sell; bye-and-bye the stuff won't pay
freight" Then undertook to show that i
took some corn to feed 100000 hogs and all
the cattle, horses, chickens, humans, etc,
that in fact each crop had been fully cOnsum-
ed before another had ripencd. ! based my
estimate on 100000 hogs in Illinois, not
daring to set it too high, but since then !
have seen reports placing the number at over
100000 higher, which Is no doubt near the
mark.
| prOphcsied that the shipments (or re.
ceipts at shipping points would fall far short
of 1872, and see that the amount is about
100000 bushels less.
The crop OF 1863 was estimated in Noycm.
Der Of that year at S9i 000000 The Novem.
Der estimate this year is placed at S5S,00O.
600, or 3G,OO000O less, and the probability
is that the frost will reduce the value in
sound corn at much less than that amount
Our market for corn has extended very
largely since 1870, the extremely low price at
which it was offered caused it to be used in
localities where il ncvor was used before; and,
with a much larger territory to supply and
100000 bushels less, is it unreasonable TO
suppose that the price should run as high III
1874 as it did in 1870,
Perhaps Eureka may raise the question o;
three crops on hand, but it will be found
that the old corn will melt away in the coun
try, as the crop Of 1868 and hut very little
more find its way to market
The winter Of 1868 and 1868 Was decidedly
mild. From New Years to July it was al
most impossible to move the crop, and the
result was the bulk of the crop of 1869 was
in first hands in July, 1899. But it all melt
ed away, with but little sent to market Now
we have less corn on hand and demand for
it all over the world.
| remember, in 1862 everybodv's ideas
were down as to the price of corn No one
ever expected to see corn sell at % cents on
the farms. Within one year, how great
was the change Corn at $l.30 in Chicago,
ana who was crazy enough to suppose that
corn would ever sell as low again as 40
cents?
In the days of low prices, before the war
corn was legal tender in New England at
) per bushel-in fact that was low price:
but three Unprecedented crops have reduced
the price below the cost of handling in many
localities, and the masses of the farmers OF
the Northwest are no better off for these large
crops.
Some talk very wisely of raising corn at
l2l2 to 10 cents per bushel but that is all
humbug No farmer gets rich at raislno
corn at 40 cents The truth is, farmers have
had the short end Of the lever for several
years, especially those who raise corn to
sell
In my last | said, Corn will sell at -
,ents in Chicago before July next" Grand
Rapids" probably smiled at the folly of the
prediction, but Judging of the future by the
)ast why should not corn sell as high in ~
Is it did in 70, which | think was above ST
Dcr bushel at one time lin ChicagOD The
upply is acknowledged to be small while
he demand has no parallel in our history.
Unfortunately, the tarmers-thc ones WHO
iced il mOst-cannOt profit by the advance
0 any great extent as they have but little to
ell.
Recently it was remarked, If corn goes
much above 40 cents IN Chicago there will
Dc perfect avalanche of It," But it seems
hat it don't avalanche" worth a cent, and
don't think 30 cents would bring out
lrgc amount.
One strong indication of short crop is the
mncnsc number of light hogs going into the
iarkct. If there was such an unlimited
mount Of corn in the hands of farmers they
,ould not be shipping their hogs-weighing
SIS than 200 pounds in November, Just the