Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-03-21
PEANUTS.
Their Future Price-wiIl they Pay as
q Money Crop?

Money Crop?
To the Union and American:
At present prices, this question Is easily
answered. A few small farmers depen ding
entirely upon the labor of their fam lilies,
and cultivating land that will produce no
other money crop, will cultivate them from
necessity, and may do as well, or better,
than they could with any other crop, even
at present prices.
But the case is different with those de-
pending upon hired labor, cultivate good
land, and expect fair return for their la
Dor and the capital invested.
Farmers of this class know that less than
one dollar per bushel at home, will not JUS
tify them in raising peanuts, when they
cultivate good land, and are trying to make
money by farming.
As this fact is clear to every one who
has any experience in peanut culture, the
question presents itself, will peanuts ever
again be worth one dollar per bushel at
home?
To answer this question rightly, we must
look into the history of the cultivation aud
sale of peanuts for many years past, and
from the knowledge thus obtained we may
to some extent, scan the future.
4hhbg yOAAS eAe5Oy 1AfO SAAeAfokAOA VA POa
nuts for market was classed with the vend-
ing of ginger bread.
But Notwithstanding this stigma, it prov
ed a profitable crop, in a small way, and
the business steadily increased, until at the
magnitude, but never excited any consid-
cradle attention, or produced any excite
ment in distant markets until after the war
closed.
Since the Wharf.-The business has so expand
ed that steamboats, are freighted, freight cars
crowded from Basement to attic; traders
struggling with each other to monopolise
the trade, while farmers, have been fool
ishly exhausting their lands, devoting all
their time and energies, to the cultivation
Of this single crop.
They have even neglected the cultivation
or raising necessary supplies, deprived their
families of all comforts; their children Of
schooling; their farms of improvements and
repairs, neglected stock raising and de-
prived themselves Of reasonable rest and
recreation; while tens of thousands of dol
lars has been Invested from the channels of
legitimate trade, and engaged in the widest
speculation.
These are facts known to all.
As to the real cause of this expansion
and excitement, there is diversity Of
opinions, but it is clear how it was brought
about, and singularly enough the collapse
of 1872 was caused or brought about by The
same means that produced the expansion.
1t was clearly case Of retro action. Du-
ring the war the Northern cities lost their
Southern trade, and were anxious to regain
it when the war closed.
Through the Federal soldiers here in the
South, the Northern people had acquired a
knowledge of the peanut, and had contract
ed fondness for them greater than ever
before, and this created an increased de-
mand that stimulated prices.
The commission houses Of Cincinnati,
with quick perception of their interests,
saw their account in this, and sent out
drummers through the cities, towns and
villages Of the North to sell and introduce
the peanut and solicit future orders.
These drummers, being expert statesmen,
met with a marked success. and this con-
tinually increased the demand and en-
HANGED prices, while this increasing demand
and enhanced prices stimulated production
until, in 1871, the business had reached its
gigantic proportions.
Had there still been fresh territory for a
further expansion of sales, the collapse of
1872 would not have occurred; but such
was not the case.
Every place had been canvassed where
they could be sold in any quantity, and
stop was thus abruptly applied to any fur
ther expansion of sales,
This depressed prices and caused farmers
and others to hold for better prices at the
very time that the heavy crop of 1871 had
heavily overstocked the market, and not
one farmer in Tennessee had any knowl-
edge of that fact.
The crop of 1872 was planted under Pc
culiar circumstances.
Cotton was selling at low figure, pork,
grain, etc, failed to bring remunerative
prices, while peanuts were selling at home
at $1.25, ST. so and in some few instances
S1.75 per bushel.
This produced perfect mania among
farmers, not only in the peanut region prop
er where every available foot of land was
planted, but the same mania extended into
territory where they had never been culti-
waited before.
| The consequence was, that although the
market was heavily overstocked, the guam
tity planted was more than double what had
ever been planted before and had there
been flu crop, they would not now pay
the expense of shipping to market, for the
yield last year was under half crop, some
few favored localities excepted.
That these are the facts of the case is. GER
tain, and itremains for farmers to make a
practical application of them.
The markets are now more hopelessly
oYerstocked than ever before, and If a large
crop is planted this year, with a full yield
per acre, it will be summers work thrown
away.
Half, or one-third of last years crop
would lead to the same result with a fun
yield, as one acre would equal two or three
of last year, and there being no moro fresh
territory for their Introduction, and any
further expansion Of sales, corresponding
increase in price, is at present impossible.
1t is sheer nonsense to attribute the present
condition ofthe market to cliques, Rugs and
combinations of merchants anu others to de,
fraud the producers, for just as long as the
supply of any product falls short Of the de-
mand, just so long producers may bid def
ance to such combinations.
| The danger is in large and full crop.
Many are fattering themselves that small
crop will be planted, and that prices will 60
up. This is the most consummate folly.
they forget that others are watching the
same point, and that there are nuts enough
on hand now to supply the demand for
eighteen months, ....s ..---
II only small crop is planted, say one
eighth or one-fourth the crop of last year,
the surplus will work of, and the crop OF
1874 will bring fair price. . .s--F8.
But as sure as large crop is planted this
year, just so sure will farmers find them.
| selves in the condition of those who went
crazy over broom-cOrn few years since.
| FARMER.
Beardstown, Tenn, March Is, 1873.
| PEAGHEG r.r...r