It has for obvious reasons required about one year for
financial trouble to be shown by decrease in value of farm produce as
evinced by wheat-flour exports.
Special conditions, such as excessive wheat corps here and deficiency
abroad or special tariff favors to flour export, may even increase the
amount exported despite an otherwise untoward effect of the new tariff
upon farmers. I have selected flour exports as the article best
reflecting the chief interest of the farmers, and at the same time the
state of general business for manufacturing, transportation and such
other branches as are concerned with it.
------------------------------+---------+--------------------------------
TARIFFS ,- They have all | | Condition of agriculture and
| been designedly | | incidentally of general
+ protective | Panics. | business as suggested by export
| save the one | | of wheat flour from 1790-1890.
'- of 1846. +---------+--------------------------------
| | Year. Barrels. Dollars.
| | 1790 724,623 4,591,293
| | 1791 619,681 3,408,246
| | 1792 824,464 .
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