742 



FARMERS' REGISTER. 



[No. 12 



dred soldiers, properly directed, might at any time 

 liave defeated the mob of pillagers and murderers. 

 But that proper direclion was wanting in Paris, as the 

 direction of tile twenty-five men was recently in New 

 York. 



The established doctrines of political econon-iy alone 

 would have enabled the foretelling that the acts of this 

 mob would serve to raise, instead of reducing, the 

 prices of provisions : and such was the practical re- 

 sult. The panic jirobably did not'long continue, and 

 consequently neither did the increase of price thereby 

 produced. Eut if the mob had succeeded, and low 

 prices had been compelled, under pain of pillage, fire, 

 and massacre — then the operation of such causes 

 would have been fully seen. ]\'o more supplies of 

 provisions would have been brought, until order and 

 the authority of laws were restored, and until prices 

 had again risen, free from restraint, to far above their 

 former mark ; and perhaps the change would not have 

 been brought about, without the accompaniment and 

 co-operation of famine. 



Disorganized as is the City of New York, and is grow- 

 ing to be, her wealth and commercial prosperity rest 

 upon a volcano, of which the threatening mutterings 

 and heavings are already felt, and the eruption will not 

 J, be long to Ibllow. If her missionaries of abolitionism 

 were allowed perfect freedom ol' access, and action on 

 our negro slaves in the south, they would not find them 

 such fit subjects foi' insurrection, as the agrarian insti- 

 gators of pillage will find in the needy and turbulent 

 populace of New York.] — Ed. Far. Reg. 



From the Journal of Commerce. 

 THE MORALITY OF HIGH PRICES. 



There have been many good people who thought 

 it wrong to exncl the market price, when that price 

 was extremely high. Their consciences have been 

 especially wounded when the dear article was a ne- 

 cessary of lile. We have known good men who 

 would never take any more for food, or fuel, or 

 hay. when these articles were scarce, than when 

 an ordinary supply existed. When men apply 

 these remarks to themselves, no one will be likely 

 to blame them for their scrupulousness. But when 

 they lay blame upon their nein;hbors. it becomes 

 necessary to inquire whether their opinions are 

 founded in truth or error. Such persons have 

 generally a notion that every article has in itseli' 

 an intrinsic and absolute value, which is not sus- 

 ceptible ot" beinir changed by the greater or less 

 quantity of it which may be in market. If there 

 be any thing at all of truth in this idea, it is but 

 little. Prices are not regulated by intrinsic value. 

 What is intrinsic value? Let those who base tlieir 

 theory of morals on intrinsic value, examine that 

 foundation, and if they can, give us its size and 

 shape. The value of a pint of water might some- 

 times be the same as the lifi^ of a man ; yet gene- 

 rally it has so little value that no price at'uli is fix- 

 ed upon it, and not unfrequcntly it is a nuisatu'.e, 

 and money is frequently paid to "get rid of it. Yet 

 according to the general notion of intrinsic value^ 

 n pint of water has as much of it in one case as in 

 another. It will be distinctly seen, therefore, that 

 intrinsic value, il' there be any euch thing, is not 



the measure of price. Those articles which have 

 most of it, or which are most essential to our com- 

 fort and happiness, are by the goodnes's of the Cre- 

 ator made so plenty as to cost but little. 



AW p>ersons admit the justice of some variations 

 in price. But fiom great fluctuations they dissent. 

 If an article is somewhat scarce, it may rise some-, 

 what; but if extremely scarce, it must not ri.=e by" 

 the same rule. All such reasoning is without an 

 understanding of the value of price. It. is the great 

 regulator of consumption, always taking care tiiat 

 in time ot plenty nothing should be lost, ami that 

 in lime of scarcity a piitance should be on hand to 

 the last day of need. The condition of the wretch- 

 ed crew and passengers on board the ship Diamond, 

 which arrived from England the other day, is an il- 

 lustration of the value of high prices. As their voy- 

 age was extended beyond the expected time, the 

 provisions of the less provident, or less able, became 

 exhausted, and they began to buy of those who had 

 stores remaining. The voyage was extended to a 

 hundred days, thrice the time which was at first. 

 antici|)ated. All this time prices were rising, until 

 a potatoe was valued at a sovereign. The supplies 

 on board the ship lasted to the end, and at the end 

 not- enough remained to sustain them another day. 

 Of one hundred and eighty passengers, onlv seven- 

 teen died. If the price of the provisions on board 

 had not been advanced ajiove' what it was when 

 the ship sailed, they would probably have all been 

 consumed, and every soul on board have perished. 

 Price is the regulator of consumption. If there 

 is a scarcity, it draws supplies ir-om a distance and 

 deals out lor consumplion with a sparing hand. It 

 is the Creator's prudential a<ient. Every efiort to 

 deprive it. of its power of vibration, is an efibrt to 

 counteract plans of the highest benevolence. The 

 history of our own corn market during the present 

 yCfir, illustrates the usetLilness, nay absolute neces- 

 sity of hijxh prices. If prices had not advanced, 

 and largely too, there would not at this moment 

 have been a barrel of flour in this market. If the . 



price of flour had been kept down to six dollars, ■ 



and ol other articles in proportion, half the inhab- " 



itants of New York would have perished with 

 starvation, or have been compelled to quit their 

 homes and go where food could be had. Our sup- 

 plies fi'om the ordinary sources were not more than 

 suflicient for half the year. If prices had not ad- 

 vanced, what would have brought relief? But 

 high prices have penetrated into 'he interior ol our 

 own country, far beyond the circle of our ordinary 

 supplies, and brought forth great quantities of pro- 

 visions through our canals and rivers. The influ- 

 ence has extended even to Europe, and brought a 

 fleet of ships laden with grain ; and after all we 

 have but a scanty sup])ly. hhall we quarrel with 

 high prices, when they have saved our lives? 



This is a simple view of the matter, hut it illus- 

 trates the use of prices, and shows how little of in- 

 telligent benevolence there is in all the complaints 

 which are uttered against those who do business 

 at market prices, whether they be high or low. 



For the Farmers' Register. 



ON THE EXPENSE OF TORACCO CULTURE COM- 

 PARED TO THAT OF WHEAT AND CORN. 



1 think the celebrated John Taylor somewhere 

 remarks, that the cultivation of tobacco is incom- 

 patible with any good system of agriculture. Al- 



