, 1873-08-23
MONEY AND COMMERCE
MONETARY.

&horo,, ,ot o,,.. 81, ,r, -, ,.,,t 49,, .u .,;1
'noae" 'o' au'to ~ largo as yesIolaay, was et'll
from 81 to S125 pcr 21 900 discount Homo
large amounts Of curronry yeyo also ordered
fr,,, Nav WI. - aa., '0 "
'''A' .'u" .o.n so@.1Ay'
TIE fAhMEna AND THE PRICE or conn.
In tho farmors' ,nooting in Iroquois County.
in this State, yesterday tho prominent ppoakor,
Mr.s br. R1n1ih MIDI tho nnyo, .n,, -ijicr,oua
- H. o .'."ao snu no'os ana f'uiou'ou'
"ecla'at'oh tnat the cry that supply anu ae-
maud regulated prices was a huubug," aud In
the noxt breath contradictod himself by saying
t1at nif forrnors ,yorh co,nh,ra a. ot,or c,naaoa
Ind comb;r,1 mi, vor1a 1o15 tl,o,r ,,rol,,ct. for
n@u eol'p'neu' auo "onla ho4u tho'f Pfoouota lor
prlco, tney Wonla got IT. lilo c0nttadiction,
however, arises from his mlsuso Of tho word
"supply" which rroporly p,oaus onlv tho
s,,u,nt ~, 4,,o ,,,r,<a4 49,. ,r.-,3 n, ,,1 III
sA,,as w .,.sn w. aIo oAa -. a"ao'
u'a'A1ea snat VIC 20 ho1 1a'ae any nofo coFn
than IS necessary Wo Aa*o q surplus one yoar
and d short crop tho ncxt to balance it,
Ill Of which Ia tYlle but II tho farmers insist on
sontling their surplus from the largo crop all to
market at 0nce, MS thoy did thoir corn lust
spring. thcy make large aupply offered to tho
consumers. Tho markot becomes guttel, con-
eutners ARC eurfeitod with All oyor gllpnly tho
tno egor 4 r. ,nd s,ava tore nnti mu aouo m nr
suddenly becomes apparent that tho great sup
ply has ceasod, ana then tho price goes rapidly
sustained by a light supply on tic
market, rogartl1eua at tho pioapectiyo SUP
ply expected to como, IN, than 10
H. iat s th " om., maou. ,.,,, ,nap6
tho last 1our honths' ~ has pcen VOL known
Hhgat iu all tho principal whaat-growmE c0un-
lrioe both laat year and this, but the small supply
H. 'Ao -;an Sn an an' eS aat a i is,M ~
ao Rl.co % ~ nr ~ esnss Per IT, pusnoi a,' na6niIs
man y Houio ha7e peon hao tne actual Supply
nuereu to consumers oenM es!uai W "!!ab WAS au-
nclpa1caE ~ IT. Wouao oe. ano ol!ay degt1ua.a.g ~.
a'ana r. tos u.eu!a.9 @ usu e tlls uea1s nt.n .tu
tIao.a.e ~ a.t auu s9'e uunu nnu suPpy
mediate sales. no aeall1iga IN intaros aro
neio!y spee.Is " sanplns, "nlcn W Il, ~ not
goFefn Jug Ioa4 va4nos or Pl!ces OF tnihga a1iy
more snen 1ots upon tno conatoh q m, Tue woathot
commodities q aro not fixed until they come 70
market, and me supply ID thus measured agalnss
t3i, ne aemana. ino httomps 70 anticlpato whas
Wlll oo tha rosu1s OF tn,s moasurlne III tno latufo
lotions are pr9snnptivo ,t and not real; II man
contract ne1t month. and stores tho commodity
away tof tnat purpose; no taRes tnat mucn snp-
somebody eBos contract to deliver to him. while
he soils ms OWE aiinllar cont1aet 70 somepoay
else. he AFFECTS neither tue present aupply nor
uemand ana n whole transaction ., has no q onoos
farmorp furnish an ovor supply Of corn on tho
market thcy must expect the price will 60 down.
on Tho contrary II tho acsnal supply is small
compared TO the immediate demand, the price
Will 80 up resardlesB OF how much corn there
may 90 III tne county Which 1t s presumed n'ay
come TO MARKET sohnn1ne; Alr. Smith advises
farmers to "combino anu hoid their grain TOR
price, elld they WI ggt IT, ny lar na the price
OF corn If concerned. 1t is PoBslple tito farmers
might accomplish something IN tho way VI in.
e1easing the prlce I tue urangos OF
Iowa nud 1utno!B Wonid unanimously agree
to DO 80 Anu STICK to thoir resolution, because
Iowa and Illinois furnlsn tue Wnolo e1portablo
samples Of cofn IN tho ohitou States, an4 nave
no importans competitors III tho world. bnt in
wh2nt, the west furnishes TOO Small proper
tton OF tho aggregate surplus OF the world to
affect tho markets OF tho world by any such mr.
rai'gement. ........... .. -......
WHY FARM Pnonucrs ARE Low AND aASuFAo-
TunED ARTICLES HIGH.
It ia remarkable that o man maintaining doc
t!ines so obviously contrary to common sense Of
Mr. Amaah Walker, should ever have acquired
so much reputation AZ financial writer and
political economist. In q recent published lot
ter addressed to MI. W. s. droesbock, i'll rela'
sion to the effects Of doprocinted curroucy, LIZ
says: