The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-23


Total produce. .$2o5 s7l,2l3 $245, AS, sS9
Add specie. 46ss762l o6,oo7,43i
Total exports $685. 1884 $3o1, 452, 800
1t will be observed from the above statement
that the balance OF trade abroad is materially in
our favor, the exports OF domestic produce show
ing the largest gains. on the other hand, tine fact
will not be lost sight OF that the receipts for
toms duties show large reduction as compared
with last year. They are likewise nearly million
of dollars lower than last month.
THE FOREIGN MARKET
presents no new features. The question OF gold,
however is viewed in England with as much II
not greater, interest than it is in the United
States for while here the probabilities chiefly con-
Germ knot OF spectators, there they enter into
the welfare OF every business man who has bank
account. Hence rise or fall in the rate OF dis
count, showing, as 1t does, with thermometrica
precision, the actual or the anticipated financial
condition, sends its influences broadcast and
evokes even the possible interference OF the gov
eminent itself. Concerning the general situation
the editor of the Commercial Times In his issue Of
the 18th inst, uses the following strong language
As we remarked last week,
THE WORLD Is VERY BARE OF GOLD.
One large sum is locked up in the Bank OF France.
statement has indeed been made that the Bank
OF France VIII pay part OF the last payment OF
Inc ssr goa inc fTencn f INA MINI
just due appears to have been so paid, and the
next payment is not due till July. ANY relief to
the money market, therefore, which Is thus to
arrive must be postponed till next month Then,
another great sum Is locked up in the stores OF the
accelerated rate, having coined s10 100000 since
the beginning OF the year. And then the Alabama
payment OF f3,20O,O00 will have to be made be-
tween this and september. Bills we believe, 1t Is
arranged, will be drawn from America on certain
firms in England, which will be met out Of the
public deposits in the Bank of England, and this
will reduce the amount of those deposits and so
far the means OF the Bank OF England. 1t is true
that the American Secretary OF the Treasury is to
announce the redemption by an equal amount OF
the bonds OF 1862, which are mainly neld In Europe;
SO that though ca, 100000 is paid to America by
raneously be paid by America to Europe. But
though this may be an equation as respects Europe
1t Is not one as against England
ALL THE ALABAMA PAYMENTS
must be paid by England, but all the bonds Of 1862
are not held in this country. Accordingly, the
ened by the operation even IL the European
money market is not. And the European
Ws aEes te
though payments on one side are equal to pay
ments on the other side. Indeed it is only plain
f3, 2O0, 600 from England TO America should tend.
temporarily at least to make money dearer IN
England.
Then another movement is in progress on the
Continent, in consequence of the payment OF the
last instalment OF the Indemnity to the German
enect Of these payments always mas been TO cause
dearer money 1Ihe mere movement has caused
momentary DEAFNESS, and money has been less
has called in from the open money markets of
Europe more than ii has repaid to those markets.
and this has caused more
LASTING DEAFNESS.
There have also been instalments Of three
the Hungarian becoming due here during the last
week. These loans may not have been entirely
taken by the public here But the committee Of
ssea e n &ar SssSnay sss
themmare under stipulation to and the
must so find it, The eject, therefore, is the same
on our market as II the instruments Of the loan had
come so completely the centre OF the worlds
money matters that such payments are constantly
becoming due here, and we must almost weekly
find the money TO make Them The number Of
little drains our market has seldom been so
great as at present, and we are not at all well able
to cope with them.
GOVERNMENT BONDS
during The greater part of the week were dull
with considerable difference at times between ask.
ing and bidding prices in consequence OF the
irregular movements in other departments OF
the street. The following Official quotations
will show the situation on Saturday limited
States currency skies, 1l4h 114h; do. sixes
1881, registered, 1865 116ss: do. do do, cou-
pom, 12la 1919; do. fve-twentes. registered
May and November, 1854 116I; do. do, 1882
coupon, do, 1l6 116h; do. do, 1854, do. do 116
116A; do. do, 1866, do. do 11714 117h; do. do,
registered, January and July 1l5 115h; do. do,
1865, coupon, do, 119h 118h; do. do, 1857, do
do, 1908 a12oA do. do, 1858, do do, 1908 1909
do. ten-forties, registered. 1928 ll21; do. do,
coupon, 1924 113; do fves Of 1881. coupon, 1l4S
q 114h.
SOUTHERN SECURITIES.
It is unfortunate not only for the people Of the
entire South, but for many innocent sufferers in
the North, that the financial situation in two or
three OF those States has reflected dscredit upon
nearly all OF them. During the past month the
Governor of Louisiana has been forced to issue an
executive order compelling the publication OF a
quarterly exhibit of the debts and collections Of
that State in order to relieve, as he mildly
puts the thought, "the uncertainty that exists
in the public mind.n Some OF the State
officials of Alabama have been In New
York for weeks vainy endeavorng to lit
the burden by which their people are oppressed.
Little Florida, with debt so trining that some Of
the bankers Of Wall street could sign their checks
for the amount tomorrow and snap their fingers
at 1t, Is also in the market, while North and South
Carolina are about to
INDULGE IN THE LUXURY
OF Courts to determine what amount of obligations
are lust and properly payable. In the latter State
the tangle seems to be inextricabe, for there is
not man within her borders who can at
this moment tell the exact amount Of
her Indebtedness. Tn people insist that
there have been fraudulent issues Of bonds,
and the present Comptroller Of the State-carpet-
Dagger though he be-has frankly acknowledged
the fact. The citizens are not only willing and
able but are anxious to pay the interest upon the
honest obligations OF the State, and only await the
clearing ofthe ugly doubts that attach to certain
OF the recent issues. Their own welfare as mer-
chants and planters depends upon thew mainten-
ance OF the public faith. How 1t can best be done Is
THE DISTURBING QUESTION.
1t may finally result in compromise, or rather in
a funding Of all debts contracted during the past
four or five years on the basis OF say so cents on
the dollar, and the reissue OF new set OF bonds.
This would get rid Of the Objectionable issues and