TOBACCO._ Until 1880, the estimates of the tobacco crop, one of great importance to the country, was neither complete nor satisfactory. Since that time, great care has been exercised in gathering correct figures. The crops of 1869 and 1870 were small, and prices high; and that of 1874 was very small, made so by a very un favorable season; and the export price advanced from 9.6 cents to 11.3 cents in the export year 1874-75. Three large crops followed that of 1874, in succession, 522, 535, and 580 millions of pounds, which reduced the export price, at first gradually, from 11.3 in 1874-75 to 7.6 cents in 1879-80, when the reduction was checked by a succession of medium crops scarcely equal to the demand for consumption and exportation. Since, the crop of 1882 exceeded the distribution and left a surplus, as have the last three in succession. The price swung upward as the result of several moderate crops, and did not reach its turning point till 18t-5-86, when it pointed at the average of 9.6 cents, but fell to
8.7 during 1887. Thus the law of supply and demand, the potent factor in the trade with Europe, has regulated prices of exports firmly, so that in the two decades for 1868 to 1887, inclusive, the range of yearly averages has only been from 7.6 to 11.4 cents, while the annual product has ranged from 315,000,000 to 580, 000;000 pounds. The table below gives the figures approximately up to 1880, and thence forward 'the figures may be taken to be quite correct. They are as follows: The distribution is world wide, including nearly all countries with which the United States has any trade. Yet nearly all goes to Europe, nine-tenths to seven countries, Germany, Great Britain, France, Italy, Netherlands, Spain and Belgium, in the order named. The proportion taken by the several, countries has somewhat changed since 1880, Germany taking much less, Great Britain and the Netherlands less, and France, Italy and Spain more.