New-York tribune., 1876-12-26
story of depression I:

These season averages compiled from the daily
freight reports ut Chicago and Buffalo, and are ae
nearly correct as snch exhibits can he made. From
them il will be that the 27,773977 bushels of
grain delivered mt New-York by canal from Buffalo
this year have been transported 916 miles by lake,
3J2 miles by canal and 151 miles by river, making
total Of ,419 miles, on basis of 012 cents per
bushel for wheat Exclusive of The canal toll paid
to the State, the Average was only ia cents per
bushel. This is cheap transportation with a ven
geanoe 1t will be observed that the decline in the
cost of transportation has been steady since 1866.
This is due to the Improvement and enlargement Of
lake vessels the reduction Of canal tolls aud the i'm
provement Of the channel of the trunk canals. Tho
vessels employed the lakes previous to 1866 were
small affnirs as compared with those now IN use.
Then crafts having a capacity OF 500 tons or over
were considered very large. But these have mostly
passed away and have given place TO vessels carry
ing from 1000 TO nearly 5000 tons cargo. During
the past season the steamer Commodore of the West
ern Transportation COmpanys line has brought
from Chicago 20 Buffalo 300 tons without diff
Guilty She is one Of n large feet of about that
capacity.
Another Improvement that has done much toward
reducing the cost OF transportation the lakes is
the introduction OF what is known the barge
system Large vessels built aud designed especially
for freight purposes are provided with powerful
machinery and these steamers take in tow two,
thIre or four large baTges tle case may be- and
make the voyage from Chicago % Buffalo IN about
six DAYS The tow barges are furnished with barely
enough rigging and crew TO enable them TO care inr
themselves in case Of accident. In this way the
first cost OF the vessel il materially lcss"ued ana the
expense cooperating hcrisalso largclyrcduccd OnGof
these fleets or trains will transport from 10000 to
100000 bushels of grain each Trip They are found
10 be very economical. by improving the canal the
time required Tor making round trip from New
York to Buffalo Is reduced several days, the boats
carry larger carRocs, 'ad the delays are not 81 fire.
auent nor 80 tedious. Tho reduction OF The toll
charge has also contributed toward CheaPenng
transportation. In 1870 the rate was reduced from
q. . ecnts a bushd on wheat 30 81 cents, from
Buffalo 10 Troy The effect was AZ once seen in
decline In the average canal freight from 1872 cents
for the sca4on Of 1850 10 ll.2 cents in 1870. AZ
shown by the above table. A similar decline in
frelghts followed the succeeding reduction IA tolls
In the legitimate course Of business these nlu-
ences would have rcsalted in u heavy decline In
freight rates y water But for the past three years
the increased competition Of the railways for the
grain trade (which is largely duo to the falling OF IN
their general business in consequence of the panic
hes run rates down 20 luuonsly low figures. Ii has
also attracted much grain to the rails that would
otherwise have come forward by water. The re-
cepts at the soaboard ports froTn Jan. 70 Nov p
thi, year aggregated l5l.04s. O2j bushels in 1873
they were III, 100, 173 buBhes, which IS n gain Of
80 s57. .sa2 bushels. But the receipts nj the West
ern lake ports. which are the f;tdcrs to thc water
route shaw u decline from lii ,537.3SJ bushels in
1873 10 7sI, ,475 bushels in 1876, logs Of 49,,
1851 bushels. These hUrts aie significant, as
they show that the railway managers have aimed TO
keep the grain away from the lake ports. This is
particularly true OF the Pennsylvania ana the Bal
tmore and Ohio management Solonga they could
hold the property inland thcy escaped The competi-
ton of tie water route. The heavy decline in the
receipts at the take ports, whilo the scaports
made large gains, shows how successful the effort
has been.
The decline Of business ON the lakes and canals
has told heavily on the trade Of Ncw-lork. They
are the natural feeders Of this city. In view Of this
fact the large falling of in the shipments at Buffalo,
as shown by the following exhibit OF exports by
canal from that city in 1876, inclusive, is lar from
| aurournQluC.