Year: 1868

The London correspondent of lhe FlaH


eidI cErOaicls Iiaasr date Of Jaly 4, says:


Not even tie weather, which is nothing
less than rnaeRifeeni, or the abundance Of
money has any effect in promoting activity
in Commercial circles. That same extreme
caution 10 which We have been accustomed
for 30 long still peFVaies all classes, and
although q moderate legitimate trade b
doing, there il no activity, beeause there j
no speculation From good harvest, and
from cheaper wheat and Bread we expect
great results but it seems questionable
whether one good crop Of wheat could act
as cure for all recent misfOrtanes. We
may hope, however, that il viii be a fair
starting peint for better times and for q
more profitable trade. But il would be
idle to assert that sudden transition from
caution in trade TO activity and speculation
is tO4ske place any more than that wheat
from being dear is suddenly to become
cheap. A fzn from the highest point Of
about 20s per quarter in wheat Ia, never
theless, substantial snd encouraging inn
provement, 30 that if the harvest should
prove good one, and the produce be
secured in the fine condition that ii is an
tieipated, we may start With wheat at about
Cos instead of 80s per quarter. 1t is diff
cult, however, to arrive at reliable con-
clusion respecting the future price Of
wheat. There seems to be but little
doubt Of the fact that the crop in this
country will be a very good one, not
only in quantity but also in quality.
Throughout the country the wheat fields
begin to indicate that the harvest is near
at hand, and the weather is all that can be
desired for Fastening the maturity of the
crop. We hear of no complaints except
on light and poor soils; but the fact must
be borne in mind that if the cultivation of
wheat is increased to 80 important an ex-
tent as it has been this year, poorer soils
must be resorted to, and it is on those poor
soils that the crop is suffering from the
excessive drouth. On Well-farmed and
heavy land, however, there is the promise
Of large crop and very early harvest.
In some parts of Essex wheat has been cut
this week, being some three weeks earlier
than in ordinary years, and an impression
prevails that with a continuance ofthe pre-
vailing fine dry weather harvest work will
be generally in early districts by the end
of next week. Some anxiety is, however,
Acit Acct thO WCAkuCA bAAOutu DCCOIiC ullSCb~
tied about harvest time, it being feared that
when the wet weather does commence, the
rain following SO many months of dry
weather, will be heavy and protracted. At
present there appears to be some indica-
tions of rain. If however, the harvest
should be secured in fine condition, the
season will have been most remarkable
one. s....l !


On the Continent the crop of wheat pro-
misses to be good one, and the accounts
received this week seem to indicate that
the harvest will be earlier than usual.
A decline of Is to % per quarter has taken
place at the leading Continental markets,
but at present the holders of produce re-
sist any further decline. II


The principal feature of the wheat trade
here this week is decline of Is to p per
quarter in the value Of home grain pro-
dHce, and a similar fall in foreign wheat.