Commercial

Ann Arbor, July 31, 1847. The weather during'lhe past week, hns been remarkably cool for lhe 6eason. - We henr that most of the spring crops have been much benefitted by the reeen rains, and look very promising. Thére is nothing doing in Wheat, no price fir ie new erop having been established. - We notice that dealers in Flour at the Sast are waiting for the foreign news by ie next steamer, which is hourly exected. In New York, July 27, Flour was in emand at $5,50 to $5,62. TABLE, Shoteing the price of Wheat in Ann Arbor, for eack week, for the year ending July 24, 1847. By the preceding table, it will be seen that the average price of Wheat in Ann Arbor for the first 26 weeks of the year was 59 cents : for the whole year, 70 cents. During the year immediately preceding this.the average price was 69 ets.: and the year preceding lhat,67 cents. So that we see that although the scarcity of grain in frreign count.-ies raised ihe price of Wheat very considerably in the Atlantic markels,it had scarcely any perceptible effect, on the whole, in augmenting here the average price of former years. The great reason of that fact is found in our inland position. Dealers could have paid higher prices during the winter, but they could not get the wheat transponed to New York till late in the spring, and the risks of diminution of prices n the meanwhile were considerable. Taking the prices of the year together however, farmers have had no great occasion for grumbling. At the time of last harvest, Flour was as low in New York as it had been at any time during the 20 years previous : nor was there any thing at that time in the commercial horizon to indicate more favorable prospecta. But the scarcity in Europe created an extensive deinand, and raised the price in the Atlantic ciiies. That there will be a considerable demand in Europe for breadstufTs during the coming year, cannot be doubted : but that it will be sufficient to produce any great and permanent increase of prices here at te West mny well be questioned, provided the crops in Europe shall come in as favorably aS anticipaledi The great error in the judgmenl both of speculutors and farmers, consists in the narrowness of their views. The atnount of square miles On the globe annually sowed to wheat is immense, etending through many varieties of climate and and country j and in the nature of things, it is not possible that the Wheat erop should fail in all these countries at once. íf Michigan had not raised a bushei of Wheat hst season, but had imported from abroad a supply br her ulation for a year, the average price of Wheat,in the market of Ihe World, would not probably have been raised by the deficiency one cent ft bushel. There is an even chance that a considerable failure of the erop in one or several countries will be compensated by crops uncommönly abundant in other countries. In this state of things, the man of correct judgment, in forrning his estimates, will take into view the whole field of action : and when he sees a sudden and great rise in Wheat in one part of the world, will know for acertainiy that the natural tendeivcy of things is constantly towards its speedy reduction to the general level of prices : and if he wishes to avail himself of the high rales, eiiher to makes sales of his erop, or to speculate, he will remember the old maxim, and strike while the iron is hol." For want of this comprehehsiveness of views, many farmers gel greally taken in. We hear of some who have last year's erop on hand, they having refused to take a dollar and a half a bushel for it, ir. the expeclation that afier harvest wheat would be at leat two dollars a busbel, whereas the probabiül y is that the market w11 coromence here at a price not exceeding 02} cent?. One fjreat souree of these exhorbitanl expectations is foand in the looseness of comtnon convcrsotion, and of newspaper reports, respecting the crops. For instance, the pnpers have ssid that ir Oakland countv, there would not be inore than half a erop. What did they mean by such an expression ? How mucli s a erop ? Ifthey mean the erop would not average but one half what it usually does, the calculaiion is evideatly extravigant. The avernge erop of VV'heat, in England and V ales, where labor is abundant, and the lands in a high state of cultivation, is but 22 bushels to the acre ; and throughout the earth, a erop is supposed by the best judges to be six or sevon bushels to the acre. Now if we assume that the average erop of Oakland county is 14 bushel3 to the acre, fa high estimate,) one half a erop would be but 7 bushels to the acre,and of course, as some fields are vastly belter than others, one half of all the Wheat fields in the county would yield but three or four bushels to the acre - an amount searcely sufficieut io pay for harvesting. All such statements must be taken with great allowance for the depressed hope of the farmer, and the loose inaccurate style of conversation. The great and sudden fluctuations in the price of grain give to transactions in it veiy much the aspect of gamb'.ing : - and the same elevation of prices which makes the fortune of one, may ruin anoiher. All cannot make fortunes by the same speculations : and in the general scramble, it appears to us that farmers, as a general principie, would do well not to sell their crops at a price less than the average price of past years, and to sell as soon after that average price is attained, as the prospect may seem to render advisable, not holding on, however, for a long time thereafter, fur very high prices.