The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1873-10-23

| inelostic one is worse. We have this
wear double the quantity of wheat to ex
port that we had last year to say nothing
of the immense crops Of cotton, corn &c,
and vet we have the same amount ofcur
rency to move it with, which we had no
years ago when crops were very light.
This operates directly against the pro-
Queer. To have healthy trade, the cir
culation of money should be unrestricted
by law. Il is the province of Congress
to see that the circulating medium is safe.
scribe Just how much the country requir-
es. That is thing which nay safely be
left TO regulate itself. In fact the best
minds in the country are now becoming
convinced that our present banking sys-
ten should be made free. but that all the
safe guards now demanded of banks
should be maintained. With a currency
adaptable TO the exigencies OF trade, one
great difficulty in the way of producers
will be removed and they will be the
better able to resist the dictation of for
eigu capitalists.
OF one thing We may be assured, the
want of foreign countries for our wheat
is beyont,, precedent. The requirements
of the United Kingdom are placed at co.
900, 900 bushels France usually exports
wheat That Is to say, the northern pre-
viuces usually have surplus which they
find it more remunerative to export than
to ship to the southern portions of the
country which are not, strictly speaking,
wheat growing regions. The south is
supplied by importations at Marseilles.
from countries on the Mediterranean,
the amount of which is generally much
less than that of the exports from the
north. But at present, more than the
usual importations at Marseilles are re
required, while the northern provinces
instead Of exporting will require to i'm
port considerable quantities of wheat. A
noticeable feature of the trade is, that of
the "clearances' of wheat from New
York for The week ending October 9th,
800 600 bushels were to Havre, Antwerp
and Rotterdam. In fact not only Eng
land and France are short of wheat to an
unusual extent, but Germany, Hungary
and even Southern Russia are also large
" deficient. The latter country is usual
~ heavy exporter but according to
late report of the minister of agriculture,
it appears that their principal wheat re-
gion has experienced failure of crops
and fears are entertained that they may
have to enter Mediterranean markets for
supplies. The United States must be
the base of supplies for the next year
Understanding this fully, European deal
ers have purchased more heavily than
ever before and the exports from New
York alone during the IA days ending
October 9th, were 3,508, 469 bushels, an
amount unparalleled in the history OF
that port.
On the other hand, to show that our
farmers have been free sellers. it may be
stated that receipts of wheat at this port
from the present crop have been s, 555,
ITO bushels against 5,044, S05 bushels for
the same period 1872. A proper. .onal
increase is noticeable at Chicago. and
taken altogether the crop movement is
These extraordinary re-
ceipts of wheat must have given farmers
a fair supply of money. What we wish
to urge upon producers is the fact, that
the game is In their own hands. They
should not force their wheat off during
close money markets, but having already
sent forward such vast quantities, should
hold the remainder for better prices.
Latest reports from California show that
it its crop is far less than that of 1872,
hence the northwest is the region which
must supply the larger portion of the
wants of Europe. Let our farmers hold
their wheat and next spring summer will
bring them their reward. The market at
present rules weak. owing mainly to
temporary depression In Liverpool, aud
corresponding decline in New York, but
choice, sound No. Milwaukee wheat at
less than one dollar per bushel in gold,
(which is about the present price, is not
a thing for investors to be afraid of.