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Phenix Gazette
Alexandria, Virginia
What is this article about?
Market report from Buenos Aires dated September 16, 1825, notes rising prices for imports like flour due to a prohibition law, with speculation driving sales of 7000 barrels; advances in spirits and sugars; demand for China silks, nankeens, and domestic goods.
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FROM BUENOS. AYRES.
We have been politely favored by a commercial friend with the following extract of a letter and prices current :
"Buenou Ayres, Sept. 16, 1825.--Since our last respects, 17th July, our markets have gradually continued to prove in prices for many articles import, as you will note by our p.c. current herewith. The law prohibiting the introduction of flour, taking effect on the 19th July, past, has caused great speculation in the article, and we have run off about 7000 barrels, since then, at $16 on 3 months credit, $16 and $17 on 6 months credit; this article is a little flat at the moment, tho' no probability of its going lower before January, unless the law should be removed, which is not likely to be the case for some time,
Spirits of all kinds have advanced very considerably, as also sugars, and could now be put off in parcels at our quotations. China silks, and Nankeens for our spring sales are much wanted, and would command, no doubt, if well assorted, and good colors, an advance on our prices quoted. Domestic, are also becoming scarce, and first arrivals with the article must do well."
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Where did it happen?
Foreign News Details
Primary Location
Buenos Aires
Event Date
Sept. 16, 1825
Outcome
7000 barrels of flour sold at $16-$17 on credit; prices advanced for spirits, sugars; high demand for china silks, nankeens, and domestic goods.
Event Details
Markets in Buenos Aires have seen gradual price increases for many import articles since July 17, 1825. A law prohibiting flour imports from July 19 led to speculation and sales of about 7000 barrels. Flour prices are currently flat but unlikely to drop before January. Spirits and sugars have advanced considerably. China silks and nankeens are in demand for spring sales, expected to fetch higher prices if well-assorted. Domestic goods are becoming scarce, with first arrivals likely to sell well.