New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-10-08
THE TRADE OF THE COUNTRY AND THE
WHEAT CROP.

II appears idle to longer deny that the gen.
era trade Of the country is n depressed and unsats
factory condition. Those who have believed that new
life could be Infused by the writing OF rosecolored
have had best wishes for their success but
their failure has disappointed any careful observer
aud has the contrary, confirmed the od-fashioned
notion that the plain truth will after all best the
interest OF the country. The policy OF the Western
wheat growers holding back their crop for higher
prices. however advantageous 1t may possibly prove
one or two years hence for them Is certainly
very unfortunate for the immediate general pros
pery OF the country and has been with regret that
have noticed disposition the part OF some OF the
Western journals to following OF this policy
citing argument In Its favor the success recently
realized from having held for three and even
four years. Admitting that In this case 1t has been
successwhch may be doubted IL mercantile rules were
appled-we believe It be the exception and not the
rule, and think 1t capable Of demonstration that the
producer who always meets the market with his pro-
ducton each is the most successful The interest
on his capital of as much Importance
to the farmer as to the banker. Past experience
had taught us to anticipate just this result
from reduction In tho price Of wheat Of from 80 to 40
cents from that of last Still were not without
some slight hope that the farmer approaching this
years crop Of the world with the reduction Of the foreign
demand to that Of one single market Great Britain.
would have followed the example Of the merchant who,
finding himself with larger stock than his own trade
going be able to take hastens to find some outside
market for his surplus that he may be able in measure
to retain control of the price Of the balance. The
steadily declining price Of wheat at London and Liver
pool together with the small shipments from here, EVIL
dences that this only foreign market Is slipping away
from and being supplied from other sources-not
unlikely by the Same nations which last year It's
competitors in the buying from US.
There are in store at New-York at this time some
.hua hal
one year ago. and II shipments do not increase
there is probability that by the close of navigation
NewYOrk will hold the extraordinary stock OF over
100000 bushels against the average of less than
bushels.
This state Of affairs does not indicate any permanent
improvement in the price Of wheat for the balance OF
this season. but tends toward lower prices
for such as will find its way market at any prices this
In turn will only tighten the grip OF the "holdingon
class" So that depression and 1prostratOn of oil the
interests depending and connected with the wheat
growing seco may we'll be accepted as the rule for
another twelve months 1t is certainly pleasant
thing to be assured of cheap bread but is not the ten
cent loaf cheaper to the earning dollar day than
is the five cent to seeking In vain for employ
menta Had this crop of wheat been promptly marketed
until Great Britain would take It would have
infused life into all the industries and trades OF the
country, and have contributed towards the liquidation
of our foreign debit it u.s. except for our own needs
the whole crop might we'll have been grassnoppered
is of any benefit the country. 1t Is the
locking I'D OF just much capital. which should be
freely circulating impartng life and vgor through all
the veins Of commerce. We as surely believe that the
policy mistaken one for the farmer Individually and
collectively as know 1t to be unfortunate one for
the railroads and all other interests connected with the
movement Of the crop. d.
Ner- York. Oct. 7, 1874.