Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1879-10-09
The Boom in Prices.

The Boom In Prices.
Wo havo already given general idea Of
tho tremendous advance of stocks and bonds
at tho North, amounting in tho grand aggre-
| gate to much moro than $400.000000. We
| again refer to tho Financial Chronicle which,
on last Saturday, compares tho ruling ratos
I of September 23d with those of August Goth
for somo leading articles of production. The
rise is startling. Extra State -four Inns ad-
vancod from 81 35 to $s5 25 between the two
dates, or moro than 90 per cent; No. 2 winter
wheat, from 81 10y to 81 30, equal to II per
cent; corn, No. 2 mixed, from ass ccnts to
55 conts, equal to 20 per cent; Wos,orn mess
| pork from $S IS to SO Is, or d. per cent;
lard, from SIS S2a to 57A, equal to IL per
cont; creamery butter, from II to 2G cents,
equal to So per cent; cheese, from 81 to 10
| cents, equal to SO per cent: pig iron, from
500 to $27, equal to % per cent, and so on
| through tho whole limo Of articles The
| Chronicle says that there is no prospective
scarcity in any Of these articles except wheat,
for which the foreign demand is urgent, aud
pig iron, and tho scarcity in the latter for
immediate delivery "ariscs largely from
speculative causes and tl.catens to result in
excessive speculation" The advances in the
prices Of pork, bacon and lard, again, arc in
tho face of a favorable prospect for q largo
| killing this fall. There is surplus of 2OO.-
600 ticrccs Of lard this season against $4,000
| ticrccs rs the average for previous years, and
| it is claimed that there arc 100000 moro
| hogs this gear, Weighing somewhat heavier
| than tho average of a year ago. The Chioni
clc says: "In calling attention 10 this widcs
| spread movement VIC have no desire to dis.
| courage tho increasing confidence or to see
| checked tho general activity which has been
developed nor do we cxpcc. or wish to
prevent spccu lation, for to m extent it is
desirable, and furthermore it will always
grow out Of tho conditions which now exist
But it is very undesirable that it should be
carried so far as TO cut short by high priccs
the foreign demand for any Of our pro.
ductions. There is certainly great danger of
this. During the past six months the very
result wo arc fearing has happened in our
cotton goods trade prices have bccn run up
so that shipments had to be stopped in some
directions. \ >: >: If wc shut down the
gates and refuso to lot out onr surplus now
whilo there is chance. we must not complain
Of the disastrous food from which we may
| suffer later on"
Tho editor of tho Baltimore SIN, whose
wisdom and caution arc proverbal, allading
to this rapid advance in prices which has
attended the exhilaratcd, not to say in llatcd
feeling Of tho stock boards and extended
itself so that it now poryadcs all business
circles and affects every branch of trade
explains that part Of this advance is no doubt
simply return to living rates for PRODUCES,
but part is also speculative, and tho danger
o. this ia two fold; prices may advance too
,.,niui.v and SO check consumption, thus
nrodu,.ing n glut and another tumble in
values Or he stimulus of high prices mar
give too much encouragement to producers,
and in this way agai,, LEAD to over production,
glut and collapse. Either Q. theso results
would bc disastrous in the extreme.
We trust that there shall be safe passage
Of the commercial argosy between the Scy,.a /
of speculation and tho Charybdis Of over pro,
duction. We also trust and believe that tho
South will nightly experience much of tho
activity and profit now 80 visible in all |
sources of trade at the East and West.
lI"yHSta Chronicle uml ConsHiuiioualisL
Blackwell e Co.. Durham, N. c., have the
largest tobacco factory in the world.
1t IS easier to tic q knot 10 cows horn
than to make your wife bolicvo that every
other night is lodge night.
Tho contract for tho grading Of the Ganess
willie and Dahloncga Railroad has been let out i
The work will be rapidly pushed to complc-
ton.
Dr. Sears, tho distributing agent of the
Peabody fund, has rendered to tho colnred
people of Georgia fourteen free Scholarships
III the Atlanta University.