Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-07-11
COMMERCIAL AND FINANCIAL
THE GRAIN TRADE-cROPs. &C.

The Cincinnati Price Curreut Of July 5th
1.-THE winter wheat harvest is now we'll
along, and approaching completion in the
northern districts. So far as can be judged
the outcome is justifying previous calcula.
tons. and possibly more. In portions of In
diana, Illinois, ETC., where considerable
threshing has been done, the yield is men
toned favorably, as also the quality.
Advices from the Northwest concerning
spring wheat are irregular, and as a whole are
not more assuring than previously. 1t there.
fore is reasonably certain that with all the
power of soil and climate to overcome draw
backs in that region the crop is likely to be
deficient in comparison with last year.
Wheat harvesting in Ohio gives assurance
of a fairly good crop, in quantity and yield,
and similarly in Indiana; considerable in
crease over last year IN Illinois, and excellent
quality; fair results in Michigan, considering
production in Missouri, quality good; deficient
crop in Kansas, but fair gain over last year s
small production.
As noted last week, the recent rains have
helped the oats crop considerably, but the
yield is very irregular, and positively deficient
in considerable part of the area.
In the wheat trade the week has been a
short one under recognition of the holiday
occasion, and the railway strike has more or
less disordered trading interest. With these
features has been the unsettled elevator ques-
ton at Chicago, which has had something of
depressing influence.
These conditions, with the generally favor
able indications from the harvest fields, the
indicated willingness of farmers 10 sell freely,
the fairly good crop promise in foreign couh-
tries, with the evidence of considerable sur
plus in this country to go forward to the new
crop year, have combined to produce weak
ness in the wheat market, which closed at
Chicago SC lower than week ago for Septem-
Der, and 4c reduction for December.
The moderate movement of corn and good
demand for this grain have supported values,
which mark fractional advance for the week
at Chicago
FINANCIAL.
The following is an extract from the Finan-
cial Review of Henry Clews of July 7th:-
The Government has reached the conclusion
that it is legally concerned not only in pre-
venting violent interferences with the trans
portation of the mails, but also with the inter
ruption of the carriage of passengers and
freight, as between State and State. This,
upon full consideration by the highest legal
authorities, the Administration accepts as a
true construction of the Inter State Commerce
laws; and the troops have accordingly been
set in motion to quell the present distur-
Dances in the West; which means that, if the
strikers do not speedily return to their places,
the roads will be enabled to fill their positions
with new and non-union hands. This action
not only provides short cut to the end of the
present riotous proceedings; but it puts before
railroad employees the certain prospect of their
having to deal with the armed power of the
United States in any future attempts to en-
force their strikes by violence. This is not
only of immense value to the railroads, as re-
lieving them of constant menace to their
property and operations it will be equally
welcomed by the public at large, who have
suffered great inconvenience and loss from
these Interruptions of travel and transporta-
ton. Beyond this, the action of the Govern
ment carries great moral assurance to the
country at large. The lawless proceedings of
labor organizations have so long been quietly
tolerated as to produce growing feeling of
distrust as to the sufficiency of the laws for
the preservation of order; and this spectacle
of the impunity of violence has been direct
encouragement to the disregard of the civil
rights of the citizen. 1t is therefore a most
refreshing assurance to see the highest author
ity of the nation thus boldly declare that the
rights Of property, and liberty for its unob-
structed use, must and shall be respected.
And yet this action, irrespective of the Inter-
State Commerce laws is nothing more than
should be expected from the Government.
The railroads are the highways of the nation;
and if it is conceded to be necessary to keep
them open for the carriage of the mails, it
must be allowed to be even still more neces-
sary, in the interest of the people at large
that they shall be kept unobstructed for the
transportation of products and persons. 1t is
plain dictate of public policy that this i'm
portant service should be performed by the
national Government and it is simply mar
velOus that this duty should never have hith-
erto been openly recognized