The New York herald., 1863-11-27
FINANCIAL AND CONNER C.AL
II sxsnAY. Nov. 90. 1883


has beer gradually advancing iom day to
day since the commencement Of the present
month without the exhiAition Of any other
than assur'eh causes for an upward move
ment until IL has again attained q letitious
value. From thfs position think IL must specdi-
ly recede, ami those who hsve sympathled with
the declarations Of spectators and permitted
themselves to drift into the market with the idea
Of realizing i'm nense profits upon their purchases,
would practise wisdom by saving themseyeswlne
the opportunity is still lowering within their
reach. We do. not offer this advice uRcon-
scious Of the fsot that there is a demand for
gold to cover certain liabilities, 'present and
prospective We know that at present tho
balance OF trada l. against rs, and that II il
likely to continue 80 for some time to Gomez aud
We know too that the differences must be met with
metal. We also know that the gold which isesnt
abroad to pay suoh demands is extracted frcrathe
cash capital Of the country, and only bo re.
treved by u reversal of the current Of trade with
foreign nations orby foreign capitalists investing
in the securities Of this country, both Of wLich
are events not likely to be realized particu-
Larry the latter, while the interest for money con.
tinues to rule in Europe at its present standard.
Now let Us see how the gold productions of our
country will meet this drain. During the first
nine months Of tho present year the exports Of
specie to foreign countries were, in round nrm-
bers, as follows
From Now York $50 100. 100
From San trancisco ..-...'......'..s.. z',V""O"p
Total for nine mou,as .s63. 100000
And during the nine months OF the present year,
as wo CLEAN from. statistical facts and carefully
| prepared estimates, we find the gold production
| Of the country to have been follows
/
oshor mines IN the unNn '...........s.. 2o,5"oDoo
Total production IN nine months .sTs 600
BY these two tables 1t appears that there H. an
excess Of prodnetiOn over the exports in nine
| months Of tl5 900, 1000, which would amount 10
twenty millions anupally; and to this should bo add
cd, In consideration the fact that new'gold Sslds
arc being almost daily discovered and devoloped
by the addition OF hundreds of enterprisng miners
| in the new Territories The bulls in the gold
| market are very apt 20 hold up as an argument
the government demands for specie in payment Of
4 duties; but no impression can be produced by
such subterfuge, "a all are aware that the specie
thus parted with will in a few months lind it, way
| back into it, wonied channels by the paymen, Of
| interest on the cOuntry's indebtedness. Unless
our imports should exceed the exports in future In
greater ratio than anticipate, and far greater
than the past would justify In pred cling FOR tie
future we will expect soon to zee the price Of gold
down TO, at most, forty per cent premium.
| The following table shows the amount Of gold
| exported from san Francisco during ten months
| OF this year compared with the amount received
by the California steamers at this port:
Exported from ssn Francisco. go 3i 51J
Received at New York.................... lopI0.sa2
Difercnce - Jli TOl
This excess Of nearly twenty-six millions cx
ported from California over the amount received
here has nearly all gone direct O. Europe. by Eng
lish stcamers from the i.thmu. of Panama.
The transactions at the Evening Exchange on
Wednesday night were much smaller THAI usual,
owing doubtless, 20 the fact that many brokers
an well ms thou customers had let The cts 90
spend Thank giving with TIE "Od Folks a.,
Home" In the country. Tie arendance dudug
the early part of the evening was pretty large,
notwithstanding the absence o. many leading
operators; but IL soon became evident that tie
market waa not 20 be- 0Bc ~ much animation.
Erie opened III l0s5 4 and clos.da lOes. bat hhd
much stock been offered at the latter figure it
would no, have found purchasers. Mot Of the
shares bought we're 90 cover shorts which bad
been pa, ou, during the day a. higher figures. II
will bc observed by report Of sales that only
$500 share. changed hanis. sgains; c.5o1 ibe
evening before. New York Central opened .,
1897, AMI closed ni 1912. which va freely BID,
AZ close offered at lJ5.
Geld sas very inactive, and bat go 600 changed
hands. offered freely sarly par, of the eyssag a.
lt75.; closed weak al 1917,
The Evening ENchangc. although IN ~ infancy
now Only four weeks In .risteuce--profni'e' TO -
quite an Institution. o. the volume Of butirsvs
transacted some sigats equal. many of hs 'ss-
sions Of the down town board. Member. 81 uis
old and public board Dibgie ffetly 'oge.asf al
| the Pifth Avepsc board. and is sessions gressni
more the appearance e social sitherlhgA ban %
! formal business mestngs