Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-02-20
REVIEW
OF THE
WlLM kGTON MARKETS,
FOR THE
WEEK ENDING THURSDAY.
February 19. 1874.
REVIEW
COMMERCIAL EPITOME.-Busi

COMMERCIAL EPITOME.-Bu Bust
ness in nearly every department OF
! trade continues dull and the markets
| generally are devoid of any features OF
| special interest. The money marke,
continues to grow easier, but there is,
nevertheless, no disposition manifested
to enter into any operation of a spec
ulative nature, and business is confined
to supplying the merest wants of the
exporter and consumer. Financial
legislation is still commanding the at-
tention of the Northern press. We
had intended to have given up it's dis
cusSion, but i'll default of any other
theme Of commercial interest, We find
we shall have to return with the other
commercial press and do what we can
to settling the affair; at any rate to
offer its opinions SO long as it is agi-
tated. The latest article on the prob
able course of its settlement is from
the Shipping and Commercial List,
and this reads as follows:
"The plethora of money continues !;
interior collections are coming in more
promptly, and trade is reviving, the
only drawback to general activity be-
ing the suspense as to what Congress
is likely to do with the pending finan-
cial measures. AS matters now stand,
spectators are now reaping the bens-
fit from the daily fluctuations in the
daily volume of legal tenders, while
business men suffer from the uncer-
tainty attending the same. The pub
lie aud the press are now fully aroused
to the Importance of this subject, and
the comment is fully in favor of some
limit to the circulating medium. The
sentiment among sound bus ness men
is in favor of restricting the legal-ten-
der medium to 1856, 900, 600; but it is
universally conceded that to legalize
the 81, 5000 of sO-called reserve
would be better than to be kept longer
in suspense. The uncertainty as to
whether the tax measures are to be
disturbed or not is also prejudicial to
current business. To meet the def
ciencies of the treasury three remedies
are proposed First, increased taxa
ton; second, temporary loan; third,
edy is by all odds the best, as was con-
speech OF Mr.. Dawes, of Massachusetts,,
in the House on Thursday. The Uni
ted states have never increased taxa
The PEG lie would tie greatly disap-
pointed if, as they were lifting them
selves from an unparalleled depres-
sion, the burden of taxation. should be
increased. Besides, if Congress would
promptly settle the currency question,
con merce and industry would instantly
revive and bring such an increase in
the revenues as to promptly relieve the
fY1r ont
Mr.. DAVIS takes the ground that
greater economy in a variety Of par
ticulars is possible. For example, the
policy of making large annual appro-
priations for a variety of purposes,
good, bad and Indifferent, ought to be
discontinued the thirty Customs col
lection districts, where it is shown that
the receipts fall below the expenses,
should be abolished and some others
of little importance might lie advan-
tageously consolidated the Office of
appraiser of merchandise at many of
the inland ports. being simply sim
ecure. might properly be done away
with the sixty Pension agents might
as we'll be relieved and the payments
made direct from the Capitol; and, in
fact, as pointed out by the Massachus-
etts Representative, there are great
variety of expenditures, involving, in
the aggregate, vast amount, that
should be Topped Off. The proposition
to reduce public expenditures does
not strike the average Congressman as
favorably as it does Mr.. Dawes, for
the reason that it would, indirectly,
touch them in a tender p'ace-the
pocket-but in the present condition
of commerce, industry and the reven-
ne, sucn a concession to the people
ought to be made with alacrity Mr.
Dawes takes the ground that it would
even be bette that some deficit should
arise, SO long as the Treasury drafts
were preserved absolutely from pro-
test, than that any taxes should be
newly imposed or increased.
The naval store trade continues to
huctuato and remain unsettled. In
the export trade, however, we note
only a very slight increase. For the
week we find exports toLave heen3, 4O7
casks spirits turpentine, II, ITO bbls.
rosin, 6,3s5 bbls. tar and ], lG4 bales
of cotton, against ID, S9S bbls. rosin,
l, so casks spirits turpentine and 1888
bales cotton. OF the exports of the
past week there was shipped to for
eign ports $500 casks spirits turpen-
tine, 10, 121 bbls. rosin, 500 bales of
cotton against 10, 189 bbls. rosin, 753
casks spirits turpentine and % bales
cotton for last week.
RosIS has continued to decline, as
wac noticed in our last, and we do not
see any improvement visible at pre- s.
tn. The effect OF this decline is said
to be that there is an excessive supply
in the European markets which is fed
by large receipts there almost weekly
from this country. SPIRITS TURPEN-
rINE--In the early part Of the week
the market was quiet and dull, but
subsequently with large exports there
was an increase of demand and an
advance of quotation. At the close,
however, this has subsidized, and the
market is again written dull. CRUDE
TURPENTINE-The late freshet in the
river has increased the supply of crude
very materially, but this does not seem
to effect the market much, as we have
had a very steady market with good
speculative as we'll as COL sumptive de-
mand to supply, and prices have ruled
regular. TAR-Tho market for this
article has also maintained its former
quotations and the day closes steady.
Corrosive have as yet no material
change in the condition of this staple.
The market rem iins dull and unset
tied GRAIN-Thcre are no new fea-
lures. Corn is quiet and unchanged.
Oats are steady and Peas maintain
their former prices. DRY Goods
There is no essential change in this
line. The Spring trade has not opened
vet, and even the order demand for
keeping up assortmeDts for stock is
ur usr ally light. Our jobbers are how
ever getting their houses in order, and
some of the new styles of light ground
prints are on exhibition while the
dark prints are placed ih the back
ground. What little demand exists is
chiefly for medium colors for early
Spring weer. The tone of the market
is firm for leading cotton, and season.
able wooden fabrics. There are sQme
few changes in prices Of other than the
leading staples. MoNEY-There has
been quite an active demand for money
in our local market for the past week.
The flow of currency to the country