New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-07-23

lccted from 900 towns in England and Wales,
while from 1865 to 1872 they were taken from
$50 towns only. For the first period the least
quantity sold was 3.5S8,0S5 quarters in 1862,
and the greatest 5,40S,209 quarters in 1859.
The average price for the year was % shil-
lings pence in 1862, and As shillings 0 pence
in 1859, the former price being the highest OF
the period, and the latter the next to the
lowest. Taking periods of four or five
months, we find the highest averages to be 90
sbiings for the five months, November to
March, 1862, and the lowest 40 shIlllngs
for the year 1864. and the five months No
vember to March, 1859. The largest imports
from the United States were 21,7G5OS7 cwts,
in 1862, when the prices were highest, and the
smallest only 170S2l cwts., in 1859, when the
prices were lowest. The statistics of this pc
Rod show that the supply OF British home
grown wheat controls the British market. The
difference between abundance and scarcity OF
home-gro wheat caused the price per quar-
ter to fall from GO shillings to 40 shilllngs,
and the aggregate importation to sink from
over 100000 in 1862 to 2lC00,OOO in 1859,
and the portion furnished by the United States
declined from 21,OOO,OO0 cwts. to almost moth
ing.
Taking the second PERIOD from 1865 to 1872,
and adding the year 1873, we find that the
least quantity of British wheat sold in any
one year was 2,44l9i3 quarters in 1873, and
the greatest 3,j19,G23 quarters in 1865. The
average price was So shillings pence in 1873,
and Al shillings 10 pence i'll 1866. The latter
is the lowest price of the series, but the
price of 1873 was exceeded both by 1867 and
1868. These, however, were years of very low
supply of British wheat, the figures being
2,724,G23 and 2,G79,0OS quarters respectively,
which is but little in excess of 1872 and 1S73
the only years showing smaller supply of
home growth For a period of months, the
highest price is an average of 20 shillIngs for
the ten months October to July, 1868,
and of the lowest is 40 shillings
for the same period of 1864-5. The
aggregate importations of wheat and -four
from foreign countries were 50,00O,000 cwtS. In
1878, 100000 in 1872 39,10O,O00 in 1867, and
36,50O0OO in 1868, while in 1866 but 2j,SOOOOO
cwts. were imported, being the smallest I'M
portaton for any year Of The period, rs that OF
1873 is the greatest. The imports from the
United States were 22,000000 cwts. i'll 1873,
and only 100000 cwts. in 1865. SO we find
that the second period fully confirms the con-
illusions which we drew from the first, namely,
that the English crop controls the market
price and the importations; the extremes of
average price for periods of five to eight
months following the haryests being 20 and 80
shillings and the aggregate importations rang
ing from 100000 cwts in years of scarcity
to 20,0OO0OO or 25,0O00OO cwts. in years of
abundance.
A third point which it is important TO con-
slider is the extent to which prices of wheat
may possibly drop within the next six months.
English prices have averaged so far this year
about GO shillngs a quarter, which in this age
of improved transportation may be called I'M
usually high We find on reference to the
tables that between July and December, 1862,
there was decline from 81 shillings to As
shillings in the monthly average, and in 1868
there was a fall from 6s shillngs in June to
so shilings .. December. Upon the SUPPOSE
ton with which we started that the English
crop this year turns out good one, these
years 1869 and 1868 furnish the only parallels
to the present situation. If, then, the condi-
tons we have supposed should be realized by
the gathering in of a good harvest in England,
we should expect to see the average gold prices
of wheat in that kingdom fall to so, or perhaps
As shillings per quarter, which means, of
course, with anything short of famine in
this country, corresponding fall in
our own markets. We wish to speak of fu-
ture events without going among the prophets
like Saul; but if the English crops are good
and wheat falls in New-YOrk to the neighbor-
hood of q dollar a bushel for the ordinary
Chicago and Milwaukee grades. we shall have
such goings on by the Changers, Infationists
and RepudiatOnists out West as we shudder
to think Of In England, in the paper money
times, the price of wheat fuctuated, mainly
from natural causes, aggravated, indeed, by
the Corn laws, from 155 shillings to 40 shil-
lings per quarter Low prices, caused by
great harvests, were made the pretext for
denouncing all efforts to resume payments in
coin at the Bank of England, as well as for
demanding a return to deprecated paper after
payments in coin had been reestablished. 1t
will be but one of many remarkable coin
cidences if we are to witness revival of the
agitation for making money cheap, in order
that bread may be dear and the evils of
abundant harvests avoided
NoTE.-The following table gives the average price Of
wheat per quarter In England, officially
from the sales at $50 market for the ten weeks
from May 2 to July 4. 1874, inclusive:
A n + / 3:;: 5$$ $H
May l6.''.'''''62- "a June ~ '''''''"6Os ~.