Year: 1859

The Produce Movement Of the West.


The following remarks from the Cincinnati
Gazette, August 10, relating to the produce
movements Of the West, will be read with in
terest al this time:


Our general market for produce continues
IN an unsettled and most nnsatisf factory con-
dItion-~a condition tending TO stagnafiou in
trade and disarrangsment of the business
operations of the West. The worst effect OF
this state of things is felt by merchants who
are heavy creditors of the interiors and whose
claims can neither be iiqnidated nor materi-
ally reduced untila large proportion OF the
produc now4n the West is marketed


There was but little money or produce in the
country prior 10 harvest. There is now muc b
OF the latter, but the former il almost as scarce
as ever, farmers generally refusing To sell at
current prices. 1t is admitted that the crop
Of wheat in Ohio, Indiana, kentucky and
Southern Illinois-sections that deal chiefly at
this piace-was large, as compared with 1855,
yet the weekly receipts Of this staple at Gin
cinnaii since harvest have not been heavy
rs for the corresponding time last year.


This shows that the boarding system is be-
ing extensively practiced. As n consequence,
collections are very light. Country store
Keepers are unable TO collect their bills, and,
therefore, have not the ability to pay their
debts TO the city; and the credit merchants of
the latter are lett TO manage the burthens as
best they can. This tends to curtail money
accommodations, and to cramp things general
ly. For all these difficulties there is no rem
edy except in the movement of the crops
Farmers, who are unfortunate us to be in
debt, must sell and pay.


LIZ this way, only, can the machinery of
commerce, that is now almost motionless, be
started As regards prices 1t must be evident
TO the minds of intelligent thinking men that
a high currency is out of the question. There
were grounds a few weeks ago, when q failure
Of The corn crop was threatened, to anticipate
an improvement in other articles of produce
but now that this crop promises fair, if not
n ye shny Apt
than that OF comparatively low prices


There Is no foreign demand, nor is there n
probability OF any, unless currency Is lowered
on this side to correspond with European quo
tations. The establishment of low prices is
the only way by which the barrier to an ex-
port movement can be broken down. This is
Il stubborn fact. 1t cannot be explained away
nor overcome by Withholding stocks from
market 1t is true, that home prices would be
influenced, temporarily at least, by boarding
produce; but this could end only in disaster


The West is indebted to the East and the
latter is under similar obligations to Europe,
and those debts must be paid or credit will
suffer, and in the latter event produce would
fall As it fell in 1854 and 1857, under the inhu-
ence OF panic, far below its real yalue. In this
case. the various interests of the country
would suffer together The true policy there
fore, for all, is 10 guard against commercial
prostratioD, and TO this end those who are in
debt and have ere should convert the latter
and discharge their obligations.


The business would prosper, and better
prices rule III the end than could possibly he
main tanned under the forcing process.


1t is useless to say that wheat is worth rs
per bushel in Cincinnati when -four brings
less than 50 per barrel in New York, and only
35.5C In Liverpool. The West has surplus of
wheat, and for this an outlet must be sought
OH the seaboard and in Europe, and in order to
avail OF such outlets, people must take what
the article will bring.


Wheat may be held, as Ii is being held now,
and thus consumers in such centres as Cincin-
natl be compelled 10 pay New York prices but
the evil day is thus only deferred, while the
main difficulty is aggravated. The debt is due,
produce must be used to pay it, and this can be
1t is worse than useless-it is daneerous-to
fight against the laws of trade. People may
stubbornly contend against inevitable results
tor time, but such a course is usually follow
ed by tremendous sacrifices and forced sub
mission.