Morning herald., 1839-07-30
M o n EY IN A H X K II.
Monday. July 20-0 p. n


At the stock exchange this morning but very limited bus
ness was DONE prices evnced downward tendency
American Bank per cent? Delaware and Hudson
per cent; Mohawk per cert.
The news brought by British Queen has produced
unusual excemat in Wall street The fall Of cotton has
given satisfaction regular Dealers inamach as 1T is
fatal to that system Of holding which has hung
commercial affairs with ruinou effect The train Of events
which have been for months tending to de-
prices and trade rapidly esnvegng to
point which reaction wall inevitably take place, aud pre-
aud healthy business Causes both natural and
artificial combined to correct the evils which have grown
out speculative and position Of the CONNER
great sre eotton appears to be the Pivet on
which commercial AFFAIRS turn aud the chief evils have
encountered have grown Of attempt to interfere with
the freedom Of its action These attempts have been
the policy pursued Mr. Bdde in emergency Of 50
singular nature warrant during its conisuance that de.
psrture from mercantile principles which would be madae
to perseyere in The attempts have however, beea defeated
BY position Of England with regard TO her eors crops and
BY Of those very attempts upon our own commerce
n We anayxs the posture affairs represented by
the adves brought the British QuseA, we shall discover
the elements OF rapid reerganizasn OF prosperous ossre
~ the repor, o tn. Chancellor Of the Erchque appears
ths the exports Of Great Britain for the year ending April
1882 as compared year ending April 1883, were
follows
Export. from Great Britain in isss' @ f.ac:0SoS ac
Excess for the past year, fsscosso
The ,x,or,. for the s nve months Of $780, showed pro.
portisnal increase, as fsllows:-
Exports from January 1889 to June, 1889, E9osoooos
q 1898 q 1885, Hs0O,oOO
y,c,.n,ss, Tssos,ooo
or these amounts exports the proportion Of oneourh
usually sent to the Uaed s,a therefore the exports fer the
two last years. ending Ia April will stand as follows
Export. to the United States in 1888, flsssosco %
r,,,. in ,sse. Sasooyooo
suu,,apeo.. with this excess Of EXPORTS the deheescy Of
the crop rendered importation Of necessary
which was to be paid gold According to the Chaacel-
lor report these imporaton amosntes, iron August lSss
to May sse E7 which very near the sum OF the
decrease Of bson in the Bank Of England but the imports
grain have partly betrayed BY the exports Of manufae
.u,s reod. Th. difference has, however. bees again
tsraoted by the Americas bills which have been drawa on
London BY Of Paris the financial centre OF our Con-
tnent trade payment Of Continental debt These bills
have been in specie account Of Its superior value IN
foreign markets. and also from China This balance was last
year ., follows
Exports TO 27.i455T
Er..., Of imports, s,Sso,sss
Import. from China. Seocooc .
Exports TO 7coooo ssso,oW
Balance against Us, s4,sssysos
n ,h. OF the preen, year stock Of bul.
, 4, IN. Bank was nearly and by the latest
t.r, the amount Ear FROM showing export
az 81 scs ooo e h. there sent abroad Cor grain
about 600 600 or $4,000 ooo for American bills
or siaooooo This amoun, has accrued England 10 the
following manner
stocks .oldiu England from May, 1898, to April,
r,aor,. co,ton $4,000 900
!" other produce, "'.Vo'o~
v... r. s.,oor,. 10000 900
Imports of goods according 20 above return oasoooo
Balance in oar f.v.r sls,500,ooo
which nearly the balance due the continent therefore
pears have been mainly instrumental in producing the
gold which has reacted upon the English market so ha
% Al the moment have been holding cotton at such
prices hat impossible for England accumulate CONT.
rental credits against her manufactured goods in the face 81
h.r pvrca.e Of grain II Is therefore TO wondered At
that es.rtoss shoud be used the part English capt
tsls 10 check the negotiation Of bills Americas account
and 10 stop the sale, o state stocks Of these latter will
probably for ysa TO be very extensive in
the London market The fall Of cotton opens tn. again
renewal OF sports the continent while the
OF an abundant harvest removing the necessity Cor continued
"A Al. e,nor ar ro,n N