The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1877-05-24

spare. The price of wheat should
show the heaviest increase, but all
kinds of grain have gone up quite rs
much, rye and barley even more.
while corn, which has only within a
few years come into prominence as an
article of export, has gained almost
as much. The fresh beef movement
has already risen to such Importance
that 1t must have an effect upon pric-
es here. The variation at Philadel-
phia, which is one of the principal
ports of shipment, shows an increase
of only an eighth TO half cent. This
rise Is, of course, mainly speculative,
but ii is not safe To say that il is un-
warranted. All the wheat-eNporing
countries of Europe will have less
than usual to spare, and Great Britain
is sorely in need, for her supply from
other countries has been about twen-
ty-five million bushels less than last
year, and our own receipts at the out
ports has fallen Oft about four millions
during the first quarter of 1877.
These figures, if maintained, show
the war has already increased the act
ual cost of living in the United states
an average of fully twenty-five per
cent. This is a very serious matter
since neither capital or labor yet see
any avenue opened by which their
earnings can be increased proportion
ately. The increased movement of
breadstuffs will not be sufficient to af-
feet railroad stock to any apprcciable
degree and the wheels of manufacture
ing will not be accelerated in the least.
Cotton, as in 1870, before the Franco
Prussian war, has fallen, but not so
much, and there is the same reason
a, then to suppose that it will recover.
but still there is no prospect of an in
creased demand. Wooden goods are
not likely to be affected, but hides and
leather will he advanced little.
The remote possibilities are stimu-
lation of agriculture so as to enhance
the value of Western lands, which
would be of material assistance to rail
roads struggling with a heavy bonded
debt, and that the money received for
breadstuffs must go into circulation.
1t needs but little more activity to
set capital to work again, and perhaps
that may be accomplished in this way
Russian and Turkish vessels will be
practically driven from the sea, and
all cargoes Of arms on the high seas,
destined for either nation, being con-
traband of war, will he liable to seiz-
ure under any flag. But the general
effect upon commerce can hardly he
predicted until ii isknown how much,
if any, the navigation of the Mediter-
ranean ports will he interfered with.
So far there has been no increase in
ocean freights to correspond with the
enhanced prices. We may reasona-
bly, expect that the funding of the
new loan will not be interfered with,
but perhaps assisted. A year ago
gold was ll3, and it is now 1867, two
per cent. higher than three weeks
ago. Consols a year ago were 81 Il-l6..
three weeks ago 96 9-I6 and now 935,
a decline of u. Ten-forties a year
in London market were 1861, three
weeks ago l0sf and last week los.
New fives quoted at the same time
were 1869, l0sl and 1865. This shows
that United States bonds have held
up quite as firmly as consols. As long
as this is the ease we need not worry
about our credit The prospects are,
however, that the fall in Egyptian,
Turkish and Russian bonds will be
quite sufficient to send a number of in
vestors in search of a little more sta
bic securities, and this would create
an increased demand, which might
enable US to put out the four per
cents PhiidieiDhio Times.