33 



^Ithougli the national banks have recently largely increased their circnlation, 

 yet they must necessarily be obliged to have nearly an equal amount of green- 

 backs on hand, with which to redeem their own paper. Victories in the field 

 and decreased imports will be the chief causes afi'ecting prices during 1865, 

 through the lessened value of gold, but the gold values of the chief agricultural 

 products exported will be advanced by the increased Ibreign demand. 



Fattc7iing cattle. — The decrease of these is also great, but not to the extent 

 of hogs. A reference to the table of tenths will show it to the reader in each 

 of the States, but, for want of necessary data, we cannot estimate the numbers. 

 We respectfully suggest to Chicago that, as it is now the head of the pork and 

 -cattle trade, it should cause full reports to be taken of the entire shipment and 

 packing of all the hogs and cattle of the country, as is now taken of hogs 

 packed in the west at Cincinnati. This department would do so, but it has no 

 power over matters which are commercial, a power which it undoubtedly 

 should possess. 



(Quantity of old wheat on hand. — It will be seen that this is much below 

 the usual amount. It is from two to four tenths, or from 20 to 40 per cent., 

 less than it was in September, 1863. It is, on an average, 30 per cent, less in 

 the greatest-wheat producing States. High prices have brought the new wheat 

 early to a large amount in granaries of buyers, but old wheat may be consid- 

 ered scarce. 



Quality of the new wheat crop. — Almost everywhere it is much superior to 

 the crop of 1863. It was not only unusually large in the grain, but was har- 

 vested with the best of weather. In some places it has a good deal of smut. 

 To the question of the best mode of avoiding this disease and other deteri- 

 orating matters of our wheats, attention will be given in the next report 



Weather. — The general statement of this in the table shows a highly favor- 

 able condition, especially for the recently sown fall crops. The predominance 

 •of the favorable and wet weeks gives the best assurance of abundant fall 

 pastures, and of such growth of the wheat as will do much towards its successful 

 resistance of the freezing iji and out of our winters. 



EXPOETS AND PRICES OF PEODUCE. 



[From the Journal of Commerce.] 



Tahle of the ctports from New York of the leading agricultural products, 

 from Jamiary 1, 1864, to October 25, compared with those during the same 

 time in 1863, and their prices at New York on the 25th day of October. 



