The December prices of the past six years, in the States on the 

 fortieth parallel, are compared as follows : 



states. 



New Jersey . . 

 Ponusylvaiiia 



Ohio 



Indiana 



Illinois 



Iowa 



Nebraska 



Cents. 

 82 

 76 

 58 

 51 

 56 

 43 

 73 



1873. 



Cents. 

 62 

 60 

 42 

 40 

 32 

 31 

 28 



1872. 



Cents. 

 62 

 60 

 34 

 29 

 24 

 18 

 18 



Cents. 

 75 

 77 

 45 

 37 

 32 

 23 

 25 



Cents. 

 81 

 75 

 48 

 38 

 35 

 34 

 36 



1869. 



Cents. 

 95 

 92 

 72 

 70 

 57 

 50 

 37 



These figures indicate plainly the first and last years of the period as 

 years of scarcity. The present prices are lower than those of 1869, 

 because the product is somewhat less, and on account of the general 

 reduction in values, especially since the summer of 1873. In Illinois, 

 the difference is but 1 cent per bushel, and the rate of yield is less 

 for the present crop. In Indiana, where the price in 1869 was 19 cents 

 higher than now, the yield in 1874 is four bushels more per acre than 

 in 1869. In Iowa the yield in both years was better and the price lower 

 than in the other States, with one marked exception — Nebraska, in 

 1869, giving 43 bushels per acre, worth 37 cents; in 1874 only 10 bush- 

 els, commanding the extraordinary figure of 73 cents. This constant 

 variation of local prices of corn illustrates forcibly the fact that they 

 are governed mainly by local demand. 



The lowest (State average) price of corn of the crop of 1874 is found 

 in Iowa, 43 cents. The average of Indiana and of Minnesota is 51 

 cents ; that of Kentucky, 55 ; of Illinois, the great corn State, with a rate 

 of yield unprecedentedly low, 56 ; Ohio, 58. Those between 60 and 70 

 cents are West Virginia, 61 cents ; Wisconsin, 63 ; Virginia, 64 ; Mich- 

 igan, 65 ; Tennessee, 68. Between 70 and 80 cents, Delaware, 70 ; North 

 Carolina, 72; Nebraska, because of chinch-bugs and grasshoppers, 

 stands with Maryland at 73; Missouri, afflicted with insect plagues 

 and drought, 74; Texas, 75; Pennsylvania, 76. New Jersey is the 

 only State making record between 80 and 90. Then comes suffering 

 Kansas, whose crop last year was worth but 31 cents, at 91 cents ; fol- 

 lowed by Georgia, 92; New York and Alabama, 93; Oregon, 94; 

 Arkansas, 95 ; California, 98 ; Florida, 99. The home-growth of South 

 Carolina and Louisiana is worth $1 ; Mississippi, $1.01 ; and the New 

 England States, whose corn, always higher in j)rice than Western, is 

 held at $1.10 to $1.18 per bushel. 



Wheat. — The average value per bushel of the large crop of 1869 was 

 94 cents. The next crop was under an average, estimated at 236,000,000 

 bushels, valued at $1.04. Another under-medium crop was gath- 

 ered in 1871, 231,000,000, valued at $1.25. That of 1872, estimated at 

 250,000,000 was valued at $1.24. The crop of 1873 was a full one, and 

 the rate of valuation receded to $1.15. Three deficient crops in Great 

 Britain made a strong demand for Wheat, as is shown by the exports 

 (in wheat and flour) of 182,520,878 bushels in the last period of three 

 years against 136,192,092 bushels of the previous period of three years, 

 an increase of 46,328,786 bushels. 



Year endiug June, 1868 29,717,201 



Year ending June, 1869 53, 900, 780 



Year ending June, 1870 52, 574, 111 



The present crop exceeds 300,000,000 bushels, and the average value 

 has receded to 94 cents. The general European deficiency in' 1873 



Year ending June, 1871 38, 995, 755 



Year ending June, 1872 52,014,715 



Year ending June, 1873 91, 510, 408 



