The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-06
FINANCIAL AND COMMERC GAL.

SUNDAY, August ., ls6G.
We shall probably be able TO present tomorrow
the usual tables of the commerce of the port for
the month OF July, and we consequently omit TO-.
day our customary tables of last weeks business.
The week was active both in the import and the
export trade, though in regard to the former the
figures fall behind those of last year.
Thus far the autumn business does not quite full
Fl general expectation. 1t was supposed, when the
crops of the wheat were seen TO promise so largely
while the cotton crop held out equally fattering
prospects, that the importation of foreign goods
this fall would be the largest ever known.
The month of July did not confirm these
anticipations. II is possible that many i'm
porters, taught by previous disappointments,
were unwilling TO take anything for granted with
regard TO the wheat crop, while others, especially
in the dry goods trade, were afraid OF the general
tendency, and deemed II unwise TO increase their
orders when everybody seemed likely to be doing
the same. These causes may have operated 10
disappoint public expectation with regard to the
volume Of the July imports. Il Is, however, too
early yet 10 speak confidently of the fall trade.
We must see what August and the early part OF
September will bring forth. Many expect that the
entries of foreign goods this month will be by far
the largest ever known, and that the importstions
Of foreign goods will be carried far forward into
the later fall months. If this be not the case our
importers will certainly win the credit Of having
resisted the most severe temptation TO which they
were ever exposed.
There is nothing new with regard TO cotton. Some
stray bales Of the new crop are finding their way
into the brokers' hands, while the remnant of the
old is coming TO market at the usual rate at this
season. The foreign advices, though not very "a
vorable TO spectators justify the belief that there
will be, throughout the year beginning September
next, healthy and stable foreign demand, at or
near present prices, for all the cotton that can
be spared. Harvesting continues to be successfully
prosecuted in the West, and we have yet TO hear
the first complaint Of serious harm from rust or
weevil in the wheat growing countries north Of the
i0th parallel. The reports nom Wisconsin, which
are the latest TO hand, uniformly satisfactory;
and the creditors Of the Wisconsin towns are be.
ginning to hope that their debtors will soon begin
to think of retrieving their credit. large guam
tity Of new wheat has arrived Of Chicago, and is
much admired. Next week the receipts will
probably be quite considerable. More corn
than usual at this season is coming for.
warn, ue latfuelr are satEncu that they
are going 10 have the largest crop ever grown, and
are fearful of eut in the markets and very low
prices. Unfortunately for consumers, the news from
Europe, in which every country except France Is
going to have short crop, does not Justify the ex.
pectation that food will be unusually cheap during
the ensuing year.
Our banks will probably show decline Of specie
Without counting the shipment of yes
teday, they have lost 80 800 900, by export, since
the last average was made up. They received. on
nearly q million from California, and
have been receiving almost daily small parcels ofgod
rom the South and the interior But, on the other
hand, the West has been drawing upon us heavily 10
move the crops; so that is fair to look for heavy
iecline in The specie average tomorrow. The last
average was 500 099, 126, decline ofssis els from
he week previous; at the corresponding date last
rear the banks held $40 ,oss,s77. II rs hoped tia.
he discounts may show a contraction tomorrow.
Considering the condition Of the country the pros.
'ects oi an active trade this fall, the certainty that