PROSPECTS OF THE HARVEST.
Aurrioueu Mr. SPRING RICE 18 facetious on the weather and its influences, and ridicules the idea of financial operations being measured by the barometer, yet, we can tell him, there are cir- cumstances which render the difference between fine weather and foul of very considerable monetary importance. Had the heavy rain which fell on Sunday night and during the whole of Monday con- tinued for some days longer, as it might, he would have received few tenders of Exchequer Bills for his Stock. In the opinion of expe- rienced and well-infbrmed agriculturists, the fate of the harvest was trembling in the balance. As it is, the quantity of wheat spoilt must have been very great. We happen to know of large quantities lying cut in Essex, which were irrecoverably da- maged; and accounts from various parts of the country mention more or less injury to the crops from the rain. Now, as there will assuredly be no superfluity of " bread-stuffs " produced at home, for every quarter of English wheat spoilt by the late rains an equal quantity of foreign corn must be imported, and for it gold must be given in exchange. This is what the capitalists were thinking of on Monday, Mr. RICE ; and hence their reluctance to bid for your Consols. But the weather has taken a favourable turn, and the opportu- nity for getting in the crops will be eagerly improved. It will soon be seen how far the hopes of an abundant harvest are likely to be realized. The tenor of the week's accounts is not particularly cheering. From Ireland, indeed, the reports are deplorable ; and in England the most flivourable are generally qualified with an " if the weather continue warm and line," or an " except in those dis- tricts where the corn was beaten down."
Prices in Mark Lane indicate an expectation of continued scarcity. A considerable rise-3s. a quarter—took place on Mon- day; and though the trade " ruled dull" yesterday, the holders of wheat were firm. The best quality is worth 76s. a quarter, and the weekly average is 738. 2d. And these prices are main- tained, notwithstanding the importation of foreign wheat during the last twelve months falls little short of five millions of quarters, and the harvest of 1839 has actually commenced. It appears, then, that unless the calculations of persons having much experience and deep personal interest in the subject are erroneous, and the accounts of the crops deceptive, another season of scarcity must be encountered and endured. Were commerce flourishing and wages raised in proportion to the advanced cost of provisions—a state of things which can rarely exist, for dear bread does not make brisk trade—the evil would be mitigated. But in the manufacturing districts there is less than the usual de- mand for labour, and the "fiat orders" fbr America have been exe- cuted long ago.
Do Ministers mind these things? or do Members of Parlia- ment? Apparently not. They increase the Army and pass Po- lice-bills; but not a single step has been taken to open new markets for industry or outlets for stagnant capital, or to improve the material Condition of the working classes. This state of off sirs is bad, but will it not lead to a worse ?
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