New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-12-31
Corn. No. 2.

At tho Chicago average for tho crop year
thus far, the new crop of OO,OOOOOO DuSh-
els of wheat would have brought
$519,OOO,O00, while tho old crop Oh
5OO,OOO,O0O bushels would hgve brought
only $l84,375,OOO at the average last season.
The new crop of corn, said to 30 only
1,27G,OOO,OOO bushels, would have brought
at Chicago prices, since August J.,
$797 1000, while the old crop or
1,717,O0O,000 bushels, at the Chicago ever
age for the latter part of 1880, would have
brought $3.50, 900. 1t is probably true
that the farmers have received and will re-
ceive more money for the wheat and corn
sold from the crop of 1881 than they re-
ceived for the wheat and corn sold from the
crop of 1850 For, it is important 10 notice, at
least 10000 900 bushels of wheat from the
crop of 1850 remained unsOld when the crop
of this year began TO come III. In erect
the producers were 9ble to market only
45O.OOO,OOO bushels last year, and have OF
old and new wheat just as much to sell III
1851. but at an advance of one-third III price
The quantity of corn held over Is not so
accurately known, but competent stltisticians
believe it not less than 100000 bushels
III so, IIt DIOulCt4o ltti'l III il'hA' ''iN' 49,
season opcncd only fl, 100000 bushels of corn
less than they sold or consumed in 18S01ol,
and yet they have been getting nearly 60 per
cent more for the corn sold.
Undoubtedly there have been heavy losses
TO the country through the partial faiuro OF
crops, though those losses have been so
distributed that the producers, as q
class. do not suffer. But the country
should he able to sustain some losses without
inconvenience after several years of unprece-
dented crops The diversion Of capital is a
more serious matter. Over 5000 miles of rail
road have been built in ISs1. II IL hardly
possible that the cost Of roads and rolling
stock has been less than $4,000 per mile.
Probably 500, DOC, 900 has been actually ex-
pended in Il single year III railroad building,
while securities for vSry much larger amount
probably for $4,000 per mile, or
$500. 900 OOO-have been created, and in part
sold to investors. I'm former times railroads
nave been built mainly with foreign capital.
This year the course Of exchange and of trade
has not indicated that very large amount OF
foreign capital has been borrowed. Much tie
greater part Of the money Llns invested must
have been drawn from the surplus earnings OF
this country. a great part of the new railroads
will doubtless bo Improbable for time. An
other part will become profitable only by di-
vcrting traffic which older roads cannot afford
10 lose.
While all this is true, it should not be for
gotten that the traffic of the country Is in
crcasing with amazing rapdity. Tho six
largest railroads reporting to the State Tn
ginecr, in the report for 1850, showed n move
mcnt of 3G.l92,lO2 tons of freight against
9.1GI, 500 tons in 1870. Their traffic had
almost precisely doubled for every five years
The other railroads reporting. which moved
G,9j2, 600 tons in 1870, moved 22.13l,399
tons in 1850, an increase Of ODD per cent in
ten years. Rapidly as railroad mileage has
increased, it has not grown as rapidly as the
tonnage of railroads. So far the business has
grown faster than the facilities for doing it,
unless the new roads Of this year prove i'll cx-
ccs- OF the public needs
1t is well to look fairly mt all the difficulties
and dangers Of the Nations position, economic
and Legislative. But when all have been fully
apprcciatcd. the fact remains that the prosper
ity and growth of the country are too great
IA permit serious apprchcnSOnastot the immcdI-
ate future Speculation may do much harm, rs
il has done much. Legislative laundering may
test the stability of the commercial structure
to the utmost, yet the Nation stands on very
broad and solid foundations, and the extra
ordinary events of the year that IL now clos
ing do not seem to have shaken them in the
least. |
THE END or THE CORLD.
Readers may now count the hours within which,