The New York herald., 1873-09-01
Existing Monetary Stringency and the Outlook
for the Fall and Winter.
AN ACTIVE SEASON FAIRLY INAUGURATED
Good Crops and Cheap transportation
tho Touchstone Of Traffic.
OUR SOUTHERN TRADE.
The Signs of the Times, Which Some Men
Watch and Some Men Don't.

In considering the subject OF the prospective fall
trade In this country, relatively In all others,
she very first question which addresses itself to
the inquiring mind Is, What Is the purchasing
capabillty Of our peOplea In other words What has
been the product OF the past years. labor IN the
great industrial interests of the country to meet
the wants and desires Of the producer in his char
acter of consumer during the ensuing Year, The
source Of all wealth lies in the soil, and is reerrible
to its productiveness. Hence, no matteriwhat form
industrial enterprise may assume, whether it be
the iashi0ning OF the rude ore into colossal
machinery, the weaving of the most delicate
fabric from the fraest gossamer tissue, it is from
the bosom OF the earth the wealth acquired thereby
springs. 1t is, therefore, wholly in accordance with
BOTH REASON AND FACT
that in estimating our national status in the great
universal mart of trade we give particular prom-
nence and weight to the two great staples Of agri
culture among us-cottOn and grain. These
with us the sources OF most Of prosperity, for
Just in proportion this crude wealth furnishes
us with the basis OF exchange do we acquire nearly
all else. Cotton and grain in their various FORMS
raw or manufactured in the case OF the one, fresh
as from Natures bountiful hand, ground as
when 1t goes to increase the pork crop, in burn
ing liquid, scorching mems throats and too often
bringing woe and destruction in Its trail in the
case of the other-constitute our principal pur
chasing power, as by them also Is most Of our ma
terial development stimulated. True, we have
other products valuable alike to ourselves as con-
sumers as to the rest OF the world, which help us
materially in the adjustment orour annual balance
sheet. For instance, take the single article of
PETROLEUM,
Of which we have
Exported since January l,is7s...".. sS iS5 G Ss9 s
The great increase In the exports thus apparent
forms quite an important item in the reduction Of
the balance OF trade which SO steadily rules
against US. But to return to
COTTON AND CEREALS,
which claim precedence also in this connection,
there Is the same encouragement to the importer
a. to the shipper in the results likely to flow from
good crops. In the matter of cotton the fears
which 80 extensively prevailed during the earlier
months have been happily dtssipated to a large ex-
tent and good average crop, though somewhat
late, is now confidently looked for. During the
past year the cotton movement has been largely
in our favor, as compared with the year previous,
q q consequence OF which, with the encouraging
outlook this year, the South may be expected to
appear much more prominently In our markets
as q buyer than for some years past The fellow
ing table shows the
EXPORTS OF COTTON (BALEs) SINCE SEPTEMBER 1.
1723.......... 266l.25s ls7-2.......... 1859 49,
In reference to this cotton movement the follow
ing figures are also suggestive as showing the in
creasng prosterity of the South and its consequent
Increased Importance as prospective buyer.
RECEIPTS OF COTTON (BALEs) AT THE VARIOUS
PORTS SINCE SEPTEMBER l.
I62A ........... 36i7, ,5S6 1917 ia ls9
STOCK ON HAND GALES.
lS7s............. lOO2f ls72................ 1890
The subjoined figures indicate the active charac-
ter of the cotton movement at the present time,
and are another encouraging sign In the prospects
OF the future fall trade.
IMPORTS OF COTTON (BALEs) FROM ALL PORTS FoB
WEEK ENDING AUGUST 20.
Prices rule firm with an upward tendency. and
a indicating the cause Of this. with the reason
why its continuance may be expected, the following
figures are given:-
COMPARATIVE TABLE OF COTTON (BALEs) ON HAND
AND AFLOAT FOR GREAT BRITAIN AND EUROPE.