Year: 1866

| In these times of commercial inactivity,
and, as it says, mercantile despondency,"
| its statement of the situation comes in
as cheering feature. In the early
spring we had most gloomy reports of
the wheat crop, and when under the
influence of that seemingly we'll anthem.
ticated intelligence the retail price of
good brands of family -four rose in our
marketto sl4 and SIG per barrel, with
serious talk of $50, in the future, the
general alarm that prevailed, and the
gloomy forebodings Of merchants5 were


not surprising. A bread famine was at
that time threatened, and it was TOO


early to tell anything about other crops.


AS the season has progressed, however, q


wonderful change for the better is


noticeable. In regard to wheat we can


speak conclusively. In many sections


there is deficiency varying from three
quarters to one.quarter in quantity but
everywhere the quantity is unsurpassed


Last year the quantity was everywhere
poor, and consumers know how difficult
it was to procure barrel of good flour


This season, poor flour will be as rare as
was good article during the season
that is now closing. In the districts to
which we refer, therefore, the superior
quality of the grain will go far toward
making up for the deficiency in quantity.
But happily the injury to the winter
wheat was not general, while, with COM
paratively few exceptions, spring crops
have done we'll Taking the whole
wheat-growing country together, there
fore, we are safe in saying that in the
aggregate the wheat crop, in weight and
quality, is fair average, and much bet
ter than last year In regard to other
crops, it can be definitely stated that
hay turns out short; but there will be no
scarcity. There is large surplus of old
hay, and this years crop being good in
quality, while the immense army con.
sumption is cut off, full supply, at
moderate prices, is assured. The oat
crop is good-first rate The straw is
short, but in grain there is a full aver
age, both as regards quantity and quail
ity.


The great bulk of last years crop, ow-
ing to unfavorable harvest weather, was
unsound. This year the crop promises
to be secursd in splendid condition. Bar
ley will be short, but not near so bad as
was apprehended while ago. 1t is often
said that August makes the corn crop.
To be accurate, it should be said that
August goes far to make the crop per-
feet. To insure good crops, good plant
ing weather in May, and seasonable rains
in June, July and August, are required.
This year, all that could be desired for
Nav was realized; June was splendid,
and thus far, nothing better than July
has furnished could be asked. We have
had rain and heat in about the right
nroportions. How this hot midsummer
weather, with the thermometer up to
near one hundred degrees in the shade,
causes the farmer to rejoice! The
ornund boing In excellent condition,
and the corn far advanced, the tempera-
ture is right Tor the crop. The latter
can now stand good deal of dry wealth
or, and it is so far advanced that there
need be no fear of early frost. Next
come potatoes This crop also promises
we'll 1t was short last year, both in
quantity and quality. This year it
promises to be excellent in both respects.
There also promises to be large yield
buckwheat. OF apples there will be a
good supply, taking the country
through So much for the Northern
States In the South. cotton is, of
course, the great staple In regard to
this crop it is difficult to get correct in
formation Those who grow it and
those who hold the old stock are equally
interested in Understanding the prob
able yield But is is generally conceded
that the prospects improve as the season
advances, and 100000 bales is now
getting to be considered fair estimate.
This would realize in money as much as
5000 600 bales in anti-war times. We
can, therefore, readily estimate the value
of the contribution to the wealth of the
country. And as we must look to the
products of the soil and of the mines for
the means to relieve the country from
the financial embarrassments that exist
we find in the crop prospects every
thing to encourage. TO manutac'
ture paper money and to shift the
forms of Indebtedness may keep mp
the deception of wealth for while,
but to get out of the difficulty ultimate
ly, or to make any progress in the direc.
tion of solid basis we must, By hard
knocks, dig Opr means ont Of the ground.
While the country was getting in debt


it was destroying wealth Now, in order
to get ont of debt, we must create wealth.
Hence the advantage of good crops.
These will enable the Government to
contract the currency gradually. Cot
ton will take the place of gold III ADJUST.


ing our foreign trade balances; prices OF
living will be reduced the cost of labor


will gradually settle, and while gains


will not count up so rapidly in dollars,


the dollar counted will be worth all the


more. We may, therefore, look for the
stagnation now prevailing III trade, to Dc
followed by an active business as the
autumn months approach There Will


be lower level OF prices to WORK upon


but people will feel more free to work.
Consumers have been purchasing spar


ingly of late, and country merchants
have been tardy in making payments to
CITY creditors. The movement OF the
new crops will change all this, and while
a smaller per centage of profits may be
expected. we may confidently expect


large increase of business. The first
indications of this revival may be look.
ed for in the distribution through the
agricultural districts of the idle capital


which has accumulated at the CONNER


eial centres. OF this we have already
some symptoms, as shown by the ruling
in exchanges in favor of the West But


without going into details, the business
man will readily discover in the fayora-
bic agricultural prospects a certain basis
for lively trade. Upon this basis, 700,


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