The New York herald., 1873-09-01


the reduction in charges from New York TO the fol-
lowing named points,
spi,.o. e. a. to e. Nashville L 70 e. e.
Toledo Sc to Sic. Fort Wayns~.-.. 70 ss
Columbus &C TO Sc AteSisons'....- ASnes % &c
ndianapoiis s &c. Se ksnss. kssSs,n cisy
81 Louis. -. SIC to Sc. ''''p"' 1890
To the Lake Erie ports, which include Cleveland,
!oledo and Detroit, the steam rates have been re-
gan ports, which include Chicago, Milwaukee and
Green Bay, with steam around the lakes the tarln
ioa m nrst class goods Is twenty-seven cents.
This Is encouraging to both the farmer and mer-
cnant, and VIII, perhaps, enable the FORMER TO
realize out OF his short crop in view Of the present
export demand and the expectation OF its continu-
ance the same profit as a larger crop, with the
Old high rates OF freight, would nave netted him.
The present outlook is favorable to higher prlces,
OF very considerable deficiency In the crops OF
both countries while the general European yield Is
abroad as TO the prospective yield here as indeed,
prices are mainly dependent upon the supply in
tins market. In view OF these iacts 1t is not sur
prlsing to hear OF
AN ACTIVE FORWARD MOVEMENT OF PRODUCE
throughout the West, with firm prices. 1t IL to be
regretted that the data readily attainabe,
exhibiting the extent OF our exports as compared
with our imports each week. month or year. This
might easily be arranged If the Collectors at the
weekly 10 the Bureau Of Statistics, compiled from
the manifests OF the different vessels cleared.
our merchants and shippers generally as well as
OF much interest to the political economist. AS
forward movement is, we append the following
statement OF
EXPORTS EXCLUSIVE OF sPEuR) PROM NEW YORK
FROM JANUARY TO AUGUST 20.
1872. .$l47 s6,ss5 ls3...... $lS4, ,Sos $50
THE EXPORTS OF SPECIE
10 August % were as iolows:-
1872. .$56 l746S 1878. &S9 sg7
1t will be readily seen from the foregoing exhibit
fhof ~. faRo frnhn tr OF fNrae eanf
stands, and during the past eight months, Affects
us, we are in much healthier condition than We
other @ side side Of % our account and we ind much more
gratifying feature In the
GREATLY REDUCED LINE OF IMPORTS
which has ruled during the same period. This, 100,
is our weak spot, the enormous yearly consumption
OF foreign products keeping us in chronic debtor
condition as people, and consequently subjecting
us 10 shocks and other convulsive movements In
trade, because OF the operation Of causes Of
M which otherwise we would be independent:
OF importers ia due, however, in great measure
to anticipatiOns which fortunately have failed OF
last winter the great snow blockade which fol-
lowed, the heavy freshets IN the spring, all OF
which, accompanied by great stringency IN the
money market in the winter and spring, checked
and interrupted trade then, and seemed to promise
even greater embarrassment in the future. The
country however, with that wonderful vitality
and energy so marked here has recovered from
those seemingly potentOus drawbacks, being but
benefited thereby In the check given inpOrtations.
stock OF foreign goods prices must generally rule
higher, as buyers find themselves limited IN their
FOREIGN IMPORTS AT NEW YORK SINCE JANUARY l,
will show the extent Of this conservatism
lS72..-...... $2eG467,s76 l63........ $275,SS 900
AS the item OF dry goods constitutes nearly one
more widely into the general trade of the country,
while consisting largey OF articles not @ absolutely
ing table is submitted, showing the
IMPORTS OF DRY GOODS AT NEW YORK FOR EIGHT
MONTHS FROM JANUARY l.
Entered for consump ton. ssess7s ss77ss,sss
Withdrawn frqp warehouse. Sosi6,9os 2so67,36
Total thrown on market..... .s97,65O7O4 $s7,4606sl
z1afsss zGs ss.1sa ass o4
Total entered at port. .slO5. l275l9 $50 2lI Gs
From this it will be seen that the total imports
for the past eight months loot up only $S6,2l 0S3,
against $l05 III, 5ls last year and sos, 364 In
1871. The entries for consumption are about
$4,000, 900 below last year, the Withdrawals from
warehouse about 81, ,250,0O0, while the entries for
Warehouslng show decline OF nearly $io 600 200.
duction Of imports is where It's benefits are most
surely ielt leaving untouched that heavier class OF
various industries and SO in itself productive.
1t is not the purpose OF this article to ignore
the benefits accruing from foreign importatiOns.
Indeed, there Is one condition Affecting the pro-
duce market now which offers abundant argument
against any narrow protective policy calculated to
cramp home enterprise, viz the meaRre amount
OF tonnage Offering, causing freights to rule high
and interrupting shipment. A more liberal policy
than that now ruling IN the national councils,
which would permit tne American register Of tor
eign built ships purchased by Americans, or In re-
spect to the duties on materials used IN the con-
structiOn of vessels would 60 far to increase our
merchant marine and give us fresh help towards
the reduction OF that balance OF trade against us,
oYY oYY Gsr saans osn 'ns pf'n's
Having thus shown why free anticipations OF
A HEALTHY AND ACTIVE FALL TRADE
may be safely INDUCED in, IL becomes worthy OF
note that present inquiry ut the various marts and
general observation show 1t to have already COM
menced. The principal hotels are diled with buyers
from the large cities West and Southwest, who
have inaugurated an animated, firm market. Later
reduction in freights noted above, has stimulated
shipments and forwarding 1s In active progress.
Ihere Is one mportsns ,eatule' hGwever yes 10 oe
its expansion. and that Is
THE FUTURE OF THE MONEY MARKET,
concerning which there Is much apprehension In
well informed quarters The tendency at the
present time is for frmer rates. commercial paper
at tis three and four mon tbs date and nothing below
~ to 8 per cent on sixty days time. Much as gov
ernment interference with the ordinary operations
OF trade, and especially when directly applied to
the money market, is to be deprecated, there are
certain relations at present existing between our
a ana Sp o.
constitute the government in some sense
the more especially IN so far as that is dependent
on financial ease. That this condition OF things
may incline Secretary Richardson to throw the in
uence OF the Treasury In favor OF easy rate for
money is thought most likely. That such influence
would be considerable is apparent in the existing
he possesses to give relief to the market His
currency balance at the present time is greater
than his requirements, while he also claims the
right to issue -, 100000 OF greenbacks, which 1t
would seem from the existing demand for money,
unless another lookup prevails, would be rapidly
absorbed in the general volume OF currency
needed at this season OF the year. In
addition to this there is sum OF $4,000, 900 Of
national bank note currency subscribed for by
new banks and not yet taken up, which the Comp
troler has notified the subscribing banks will be
redistributed to other banks II not Immediately
taken up. This, OF itself, would AFFORD O large
measure OF relief to the market In its present con-
dition. The payment OF the amount Of the Geneva
award soon to be effected, will also have its indu
ence in securing an easier market Altogether,
Notwithstanding the present unfavorable c0ndi-
ton and the apprehensiOns mentioned above, the