149 



ers look forward to a .uood year this year; but this in 

 itself would be less intolerable if future years held 

 out better prospects; before he launches out next year 

 he will ponder much. 



Will he obtain next year what after only a hard 

 st niggle he got this year, and this year too, at a harder 

 struggle than the previous one? Unless the prospects 

 are improved he is indulging in pure speculation in 

 persisting in his sowings. 



FARMER DERANGES COMMERCE. 



Every year the struggle for advances is keener 

 the cost or rates, rise, and in ratio his profits diminish; 

 he alone is not the only party who sufferers under the 

 present system ; commerce in all its forms is affected . 



For three mxmths each year every cent available 

 for credit has to be dedicated to the advances for agri- 

 cultural need, and during this period commerce is de- 

 prived of the means for direst business necessities. 



Each year millions rush* out to the camp to be 

 rushed back as soon as the crop is in ; directly the 

 farmer does business he paralyses commerce, and when 

 commerce flourishes the farmer is paralysed. 



How great is the call made on money must be 

 clear, since the harvest this year demands no less than 

 $ 500 millions, and locks up capital to the extent of 

 nearly $ 700 millions paper. 



And even here our difficulties do not end, for as 

 we export our crop in a rush, out of the country goes 

 the money, back to the city, and back into the banks, 

 where it must be used to discount the shipping 1 docu- 

 ments, etc.,j3r lie idle pending the resumption of trade, 

 seriously affecting the rate of exchanges; and making 

 all the best efforts of the Governments useless to estab- 

 lish an equitable rate of exchange. 



BURDENSOME RATES OF EXCHANGE. 



\ 



By steadying our exports, to suit traae conveni- 

 ences instead of those of a few grain speculators, we 

 should avoid the customary excessive oscilations on the 

 market over the rates of exchange, which needless to say, 

 do not benefit the country at large, whatever the highly 

 successful profit and loss accounts of our banks may 

 lead us to believe. 



The extreme differences of the rates, between those 

 ruling against us when we export our crop, that is, 



