New-York tribune., 1878-11-11
IupcorED BUSINESS PROSPECTS.

Gold remains steady at n premium OF one
eighth, and imports from Europe are now
thought not improbable at an early day. Our
grain and provisions have been going forward
freely. The cotton crop begins to go abroad
largely the exports last week were 7S,ll3
bales. and during ten weeks since Sep
tember l the exports Of the new crop
have amounted to 493,sS7 bales, whereas
only 34l, ,751 bales had, at the corresponding
date. gone abroad from the crop of 1877.
There is no longer doubt that the crop is
the largest ever grown IN this country, and
the prospects in Great Britain and on the Con-
tinent are decidedly more favorable for large
purchases than they were month ago. Mean
while no material increase OF imports has oc-
CURED, and the London market is searched in
vain for United States bonds to send back In
settlement Of balances. There is sCme reason
to suppese that considerable sales of American
shares formerly held abroad have helped
of late to meet the merchandise balance
in favor of this country, but the prices
Of stocks chiefly held in Europe are
generally so low that a movement TO realize
can hardly become important. Under all the
circumstances some rcmittanccs Of specie seem
not improbable.
Business throughout the country is recover
ing strength At the South, the long prostra-
ton caused in the Valley States by the
yellow fever has nearly passed, though
transactions are still somewhat smaller
than they were last year, and collec-
tions from that quarter are naturally
slow and difficult. At the West, the
political campaign has interrupted business
to some extent but n greater activity will
now be stimulated by the increased confidence
of dealers and lenders i'll the financial future
The crop movement continues larger on
the whole than that Of last year.
and the shipments of grain from West
ern ports have amounted from August
| to November 2, to S9,397 219 bushels
this year, against 1917, 149 bushels during
the corresponding weeks last year. With No.
| Spring wheat ut Chicago selling at 81 cents
per bushe the fact that the movement con-
tinues so large at a time when the
farmers have been for several years re-
ducing their debts, and when no especial
stress for payments is known to exist, is suIi-
cient proof that the crop still in reserve is
extraordinarily large. All the tidings from
Europe appear to favor an increase in the de-
manu 1Of AlnclItdH RIdlIi' luC supply Iuus
| far since the season began, has been less than
at the same date last year by about 6OO,-
600 cwts; scarcely any wheat was being
shipped for Great Britain from South Russia !;
the exports of grain from Hungary have
almost wholly ceased because of the inferiority
of the crop; France is importing largely,
having taken in September 292, 410 quar-
ters, against S9,s53 quarters in Septem-
ber 1877; the old crop of Australia is
reported TO have been nearly exhausted,
80 that only about 200, 900 bushels remain
available for export; and the exports of wheat
from British India. from January l to Sep
tember 81, were only 1,103.70G bushels,
against 10, O,4S5, 15s bushels last year, the price
being such as to prevent shipments TO Great
Britain. The new crop will not be harvested
until April. Apparently, Great Britain will
in any ease be obliged to depend on this
country for a supply OF grain materially ex-
ccedng the enormous exports of last year,
and other supplies Will be still further re-
duced should difficulties between Great Britain
and Russia become serious again.
Confidence in the success and ease OF re-
sumption has been strengthened, not only by
the elections, but by recent statements OF Sec