, 1873-05-22


- with yesterday prices, reducing tho figures for
= yeaferlAy's quotations to thoir gold value Of
84N cents to tho dollar Of groonbaoks, in nc
;, oordancc with the gold premium at 10 por cont
~' ASx ;sss: g. s'fsssao' ssss. A1sz 1sga: a.
~ Fl 1pl'ns Sa. "asss s1osto.os s.11
$::; E: +: !; ''s Ss i; IS ); ,,';
Ts!low, per d.. .loH 'o'H ''o]t
bsst spring extra o,6o 6oo t.os j
4,, 4nutser, psr err n..;;' q; .lsto 10 '0 AZ
Propeller fseishts fsegii '''~ - N''1 '
to Buffalo, corn. .03 i.95H .0aef
: !, It will bc seen from the pnoyo that with tho
exception of tho articles OF wheat and lumber,
oil the loading productao tho West and Northwest
orc lower now than tho average prices they aold
for in the two years before tho war at this season.
Cotton is also down now to just about nnte-war
prices. Thus we find that MI the loading pro-
ducts Of tho country arc no higher in gold than
they wero thirteen and fourteen years ago. The
"gcueral advance" Of 40 per cont in prices Of
commodities to which many financial writors
and political economists refer from tme to time,
: ia, therefore, confined entirely to manufactured
and imported articles, except 80 far as the 1913
ureenbaoks aro legal tender for tho payment
of debts at their nominal valuc, and In exchange
for tho manufactured and imported articles
which, tho producer consumes, aro worth their
face. II then, thore has been an advance OF 40
per cent in tho pricoB Of manufactured and i'm
ported articles gonorally, we must deduct the Is
per cent Of the gold premium, to arrive at. the
Increased taxation, which would therefore appear
to bo something over 20 per cont. It is probable,
however, that instead Of 70 per cont tho increase
n tho, cost OF manufactured articlos gonoE-
. tho articles which arc hlghor now thnn in 1861
go, were compiled, itwoul1 undoubtedly be found
that they 1avo advanced in exact ratio to the
ta1ea Levied On m md tic '3 duties
THE ADVERSE BALANCE or TRADE FOR 1879.
etatstics bring the total footings Of our foreign
means Of comparing it with that Of 1871, as fol-
lows:
1Mronrs-too1D vA1url.
sssss 1as: 1as' ssS
Total. 900 ssa9,ooo,ooo Ines $500 900
nron1s-{aoIp vALuE).
s2ecis....... loo.7ooo0o 77,to0,ooo Inc.
Total. $50 eoo u; j6o5vo Ine.s 81 100000
E::}
Ezce.s Of imports. ,.$lo7, TOO, 600 600
A Few days ago VIC gave statistios OF tho in
crease in the export movement Of products In
she four months Of 1879, ondinB May /, showing
IN oatimntcd increase OF probably $5O, ,O0D, 600
oyeE Tie corresponding period Of 1872. Il Is,
without doubt, to this increase Of exports in the
iast four months that We arc indebted for tho
noforrlng Of tho financial crisis in our FOREIGN
irade which would hhys resulted from tho fir-
ther increase OF tho large adverse balance shown
70 70 hayo stood against us at the close Of 1874
Ihe foregoing figures, however, only take into
account the balance against this country In tie
pxchengo Of commoditiou and specie Tho m
nual interest debt Of at least $100. 900. 600 On
corporation, railroad, and Government bonds
negotiated In Europe must be added 40 that tho
actual adTorse balance against us at the close
Or lS39 was probably not less than $500, 900, 900,
II Will bo seon that the settlement Of the az
ehangea OF commodities alone would have re-
9uired tue expectation Of s1o0 o00, 600 moro gold
shan was exported that year. This balance was
settled, or put OH, by the sa1e In Europe Of
gleo, ,ooo, ,oo0 Of bonds Of various kinds. Tho
debt. therefore, o1sta yet, and the interest on It
Will increase tho liabilities for the current year,
LOCAL sTooK AND BOND HA1EEr.
lows this afternoon: 3 ~ Ao1-