The Rural Magazine, and Literary Evening Fire-Side, Vol. 1 No. 01 (1820)Various
History
The Rural Magazine, and Literary Evening Fire-Side, Vol. 1 No. 01 (1820)
Various
Agriculture; Agriculture -- Periodicals
The sudden introduction of less than 500,000 persons, would leave us
no surplus of _present_ products of food for men. But it is a demand
for this surplus, no matter how created, that assesses the value of
the whole product. Such products, let the fact be recollected, were
at as high prices during the late war, when there was very little
export of them, as they are now, the difference in the value of
our circulating medium being also considered. This was caused by a
partial want of agricultural labourers; but more by the waste of
provisions that belong to a belligerent state.
Foreign commerce, nevertheless, has a powerful bearing on the
consideration of value in a state of peace, to the growers of grain,
meats, &c. The amount beyond their own _immediate_ consumption
and that of their families, may be about two fifths of the whole,
besides the foreign export, or nearly 110 millions,--the _price_
of which is fixed by the small amount of 13,500,000 dollars' worth
sent abroad! And, this little surplus remaining unconsumed, or
without being wasted, at home, would depreciate the general value
of the whole surplus at least 50 per cent. Hence, it would seem of
greater interest to the farmers even to _destroy_ a portion of their
products, than to cast them into a glutted market, according to the
principles acted upon by the Dutch in regard to spices. A policy not
to be recommended on the score of morality, but as according with
the spirit of trade. It cannot, therefore, be advantageous to the
agriculturist to depend upon a foreign market to assess the value of
his articles, for it is, and ever must be uncertain and unsteady. It
is his interest to have a market at home, for this may be depended
upon, and the product will be regulated by the demand, so as to
leave a fair profit.
A gentleman of observation, on a certain occasion, when I Was
speaking on this subject, related the following case in point.
At an interval of about 10 years, he had stopped for a short time
at a certain village in Connecticut--when first there, it contained
two first rate taverns, and one other respectable establishment of
the same kind. Two lines of stages made it their halting place every
night, and all seemed flourishing and lively. When there again, the
three taverns were shut up, or at least not occupied as such, and he
had to apply at a private house to be accommodated during his stay,
and every thing appeared dull and desolate. He asked the reason.--It
was the establishment of steam-boats which had destroyed the lines
of stages, and driven off the persons and horses that they had given
employment to, and of course the market they created, which hitherto
took off all the surplus products of the neighbourhood, had ceased
to be. A thousand instances of this sort might be noted to prove
that a _ready market_ is the prosperity of a neighbourhood, country,
state, or nation.
Public-domain text, read in full here on John Shaqi.
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