Year: 1869

wheat trade Of late, and the check which


has recently been given to an upward move.


ment. are due" says the Manchester Guard


ian of November 2, "to our large importa-
tions, and in a great measure to the abnn-
dance which exists in the United States."
But in the Chamber of Agriculture this
reason is given "The potatoes appear to
be every where unsound, and are being
forced upon the market in large quantities
This has had its invariable effect upon the
grain trade, but the present depression upon
the market induced BY this cause will un-
doubtedlybe followed by reaction"


The fall in price was unquestionably due
in part to the several causes mentioned !;
but it was also owing to the fall in gold at
New York, which affected the currency
price of wheat in proportion in which gold
fell. This point is beginning to be under
stood by those who produced their wheat at
high currency prices. although they can
command for the gold received from the
for igner who buys wheat only a !ow currency
price. The principal agency for plating
down the price of gold is the Treasury De
partment; and yet the quantity ofpaper cur
IeuCy Is IlOt uItuIIllSucu Ill tHG SHtue pTOpOE
ton, or indeed at all. The fall in gold can
not lie permanent unless the paper currency
is reduced to an equivalent extent-a boon
scarcely to be expected from Congress at
the coming session.


The circumstances we're all favorable for
rewarding our farming interest with remu-
nerating prices. The Messrs. SURGE Of Bir
mineham, England, highly respectable su-
thority, in their grain circular Of the 4th Of
November, say: "The accounts as to the
yield Of the wheat crop have become worse
as thrcshing has progressed, and mil'ers
complain that the new wheat works weak,
and that even the white sorts do not grind q
good color"


The defect in potatoes and wheat is one
of the effects of the drought of last year,
which, although it gave to wheat some quail.
tiles which in the moist climate Of England
are not ordinarily impaired, yet prevented
the full maturity of most vegetable products.
New seed potatoes and wheat should have
been used in the place Of snch as we're i'm
mature. This caution will be more neces-
sary next year, and particularly as to pota-
toes, which probably owe their tendency to
disease in part to the general use of small,
and consequently defective, tubers for plant
ing.


But there are other difficulties which need
TO be taken into view. AT a meeting of the
Central Chamber Of Agriculture, held on
the I'd of Novemhe- :. =. .o,uurr, M Gi Gan.
DINER, OF East Kent, moved "that, in the
opinion Of the Council, the corn averages,
as at present taken, are fallacious, and that
the buyers returns should be limited to pur
chases fom growers only" Mr.. CLAY, of
Yorkshire, seconded the motion, and in do
ing so thought it right and proper for the
purchasers to make the returns. "If the
growers were obliged to make the returns,
he was afraid that they would be more un-
satisfactorily made tha n, they were. at pres
ent.' The Chairman, CLARE S. REED, M.
P, said that ''lhe present averages we're
made up from the best samples, which fre-
quently were published two or three times
over" 1t may be f, ared if the Gazette av-
erages nre erroneous, that the estimates as
to the quantity of grain produced, which are
voluntarily made, have like defects.


1t will thus be seen that in England the
accuracy Of important returns is impeached
by the Central Chamber of Agriculture,
composed Of picked men that this crop and
that Of the potato are defective as to quality
it has heretofore been shown to be SO as
to quantity; and that the price of wheat at
Mark Lane is lower than the average, al
though q larger importation than usual foi
the grain year win be required. Before the
condition of their present crop Of wheat was
known, it was supposed that over seventy
millions of bushels Of wheat would need to
be imported between the late and succeed
ing harvests. E


, On looking at the situation in this conn
try it will appear to be equally anomalous.
The drought along ihe Atlantic coast, which
commenced in June, continued until about
the occurrence of the autumnal equinox.
The rains then experienced we're severe in
some of the Eastern States, but light over
the residue of the coast, and stock had to be
fed from winter stores six CT seven weeks
earlier than usual. This drought affected
the corn crop, and the pasturage in q most
serious manner; and it appears also that
the corn crop in the Northwest was very
light, and that, by reason of severe storms
occurring in haryest-time, the wheat then
being gathered was severely damaged. Cal
ifornia, instead Of having the full crop at
first reported, will not have, as later and re-
liable estimates show, more than two-thirds.


The breaks in the canal which occurred
this fall checked the transfer Of wheat to the
seaboard, and caused it to heat during the
detention of cargoes but yet, with the GER
tainty Of an unusual foreign demand from
the United States, and of a probable inabil-
ity on the part of Russia and some other
grain-growing States to offer their usual
competition, wheat has steadily fallen in this
market. +, On the closing of the canals for
the winter-when the stock in market and
its condition may be known-the price Of
our exportable produce will be frmer.


The demand for currency to 60 to the
South and West, to be used in the prosecu-
ton of their growing industries-which is
still in progress- adds to the difficulty
which spectators experience in carving
gold. Aud as no foreign country requires
it from US, but, on the contrary, our bonds
are taken abroad for balances, it has not
been difficult to lower the price of gold, es-
pecially on the eve of shipments of cotton
and grain, which must 60 forward in large
quantities.


But it is competent for our foreign credi-
tors to change the state of things at their
pleasure, and although no immediate motive
for doing SO is at present apparent, We are
satisfied that if that portion Of the farming
interest which is able to do so shall cult
vate what the Country Gentleman" calls
the benc6cent disposition to hold on TO part
of their produce, they will benefit themsel-
YES and the country. r1