The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-08-10

tanned. In Europe, the harvest prospects are highly
favorable, and as the demand for export will con-
sequently be considerably lighter than it has been
for several years past there will be less margin left
for speculation, while the surplus of grain on hand
is not considerable as to produce any serious eff
feet upon the price at which it is now selling We
may, therefore, look forward to healthy trade,
though it is not probable that it will be so active
in all its branches some persons inclined to
imagine. But what business is done, will be we'll
and safely done for though the extent of the bust
ness may be limited as compared with that of
other years, it will be established on irmer basis
will pay better profits and will yield more speedy
returns Since the crisis of 1857, the whole system
OF credits has been subjected to careful revision
and many notifications have already been in
troduced, by the merchants to the Eastward,
which will have tendency TO limit the operations
OF the coming season within healthy bounds by
restraining the country traders from purchasing any
goods but such as actually required to supply de-
hciencies in the stock on hand. The determine
ton of the merchants of New York, Philadelphia
and Boston, to limit their credits to four and six
months paper, instead of extending them over
space of six, eight, ten, and twelve months has
made one other fact apparent-their customers
from the interior come in more slowly than here
tofore purchase more largely for cash. and make
their credit bills much later in the season than
they were accustomed previously to do; their
purpose being to throw the time of payment as far
ahead as is possible under the new regulations
This change in the time of purchase, by the coun-
try buyer, has produced corresponding change
in the foreign transactions of the city merchant
The great bulk of his importations were usually
received during the month of July; they are now
extended into August whereby the importer is not
only enabled to save the difference in interest but
is better prepared to estimate the probable amount
of business that will be done during the season,
and provide for it accordingly. IT must not, how
ever be supposed from the present condition of the
| Agricultural and Commercial interests, that the
spirit of speculation is entirely suppressed; nor is
it at all desirable that it should be. There will al
ways he class of adventurous and enterprising
men who are ready to embark in any undertaking
that promises unusual returns in compensation for
unusual risks; but for while, at least, their
bers will be comparatively few, and their opera
tons less daring than heretofore. We recently pub
lished the statistics of Commerce for the past seven
months for the Port of Baltimore and compared
them with the amount of business done during the
same period for the six years preceding, indica
ted by the amount of duties paid at the Custom
House. We have now before lis the monthly statis-
tics of Exports and Imports for the Port of New York.
for the first seven months of the present year,
with comparative tables covering similar period
of the two previous years. From these we learn
that the Exports from New York in the month of
July were rs follows