New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-09-02
THE STATE or TRADE.

TUE STATE or 1RADE.
September opens with encouraging news. In
spite of reports of injury to the wheat CROP
the movement eastward continues very large
Notwithstanding many failures, the increase
of loans, the outflow of currency, the records
of exchanges, and the increase OF bank cir
culatiop. show that there is n healthy increase
in legitimate business. A moderate increase
in imports is also a favorable symptom; the
receipts from internal revenue during the
latter part of the month were encouraging;
and the reports at the close of the cotton year
arc generally satisfactory.
Shipments of grain from the Western ports
for the week ended August "a, the latest re-
ported by the Produce Exchange, amounted to
5.725, 600 bushels, against 100000 bushels
last ear. The shipments by lake were 4, 422,-
800 bushels, against 3,564,268 bushels last
wear. During the month of August, accord
iny TO kilograms from Buffalo, the movement
of grain by canal was 12,299,636 bushels,
against lO,S49. 203 bushels i'll August, 1871
and the movement by rail was 4,3ll,76l
bushels, against 1,249, 745 bushels in August
of last wear. Although the receipts of wheat
at Milwaukee are small those of other West
ern ports far exceed receipts at corresponding
dates last year, and strengthen Che expecta-
ton of very large crop.
The cotton year closed on Saturday, with
receipts at the ports that day of 3,75l bales
The aggregate receipts reported by Tie Chron-
icie to Friday night were 4,2S9,299 bales, so
that the receipts at the ports during the
full crop year were 4,293,0l0 bales. If the
corrections amounts shipped from the South
direct to manufacturers, and amount manu-
featured at the South, are as large as last
year, the entire crop VIII be about 4,SO3,G4
bales, against 4,G69,77O bales in 1S59-'6O,
the largest recorded crop ever grown in this
country, though at that time the consumption
at the Sodth then small, was not included in
the statement. But the average export price
in 1860 was 1919 cents, and during the last
wear il has been 11.2 cents, so that small
excess in quantity of cotton grown in 1860
may be balanced by better price for the
| .6O7. 533,511 pounds exported during the
last fiscal year. The latest adyices as to the
new crop, moreover, are more favorable than
those of previous weeks since August /.
The increase of 50, 137 400 III the loans
average of the Ncw-York banks Is readily
explained by the large movement of grain
and the improved prospects in business circles
There has been an increase of Sl33, 100 in
the circulation of the banks of New Ork,
and the circulation of all National banks
as reported from Washington, increased
Sl23, $50 during the week. and is now
only Si5S,197 smaller than at the be-
ginning of the month. a natural but
slow expansion has begun. which may be-
come quite large if hopeful expectations gen
orally entertained are justified by the events
of the next month. Imports are also "A little
larger than they were at this time last year !;
for four weeks, ending August 81, the inn
ports mt Ncw-York amounted TO $2A,S95, G37,
against $23,914,4 last year, and the exports
of specie were only 1924, POS larger while the
exports of domestic produce from this port
were S262GS, 8O2 during four weeks ending
on Tuesday last, against T22,51GSl1 during
the corresponding weeks in 1877. Although
the decrease in internal revenue receipts was
very large during the first half of August, it
has been only S5j5,290 during the whole
month, so that the entire receipts since July
1 still show a gain of nearly 100000 in
comparison with receipts OF July and August
of last year.
Exports rarely exceed imports of specie after
September /, and the net exports thus far this
wear have been the smallest known since 1861.
Notwithstanding the advance in rates of inter
eat by the banks of England and Germany
gold does not go abroad in any considerable
ouantlty, nor do United States bonds move
westward in large amounts With large crops,
and eager markets abroad, this country may
with reason expect to increase it's store OF
the precious metals by importation as well as
by mining during the rest of this year.