New-York tribune., 1880-04-05
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A NONTIIN COMMERCE..

The monthly statement OF imports anu Ca
ports for February will be a surprise to some
persons who have supposed and said that the
amount of imports for that month greatly ex-
cccdcd the amount Of expOrts because that re-
suit appeared at this port alone. The excess OF
merchandise imports over exports, for the whole
country, was $4,297, $40, although the excess
of imports over exports at New-YOrk alone
was $1G,9S3,179. The official figures show
that the imports Mt NewYork were 72.3 Eer
cent of the aggregate imports while the exports
at New York were only 1914 per cent of the ag-
glegatc exports, specie excluded from both.
Moreover, there was an excess of imports over
exports OF specie, amounting to S277,OG2 for
the month, although in February, 1879,
the excess of exports over imports was $780,
Ids. At that time the balance WAS greatly in
favor of this country on merchandise account,
while the balance now is much smaller. 1t Is
true that the payments for foreign purchases of
goods are to large extent dc!crrcd so that
settlements for the goods imported in February
will affect the rate of exchange and the move
mcnt of specie much more some months hence; (;
but it is also true that large increase Ill ex-
ports of produce is to be expected after the
opening of navigation The amount of i'm
ports in February, $50, 643,S3 has been ex
ceedcd in one month only for several years,
namely in December, 1870 but the amount OF
exports in February smaller by over
$4,000, 900 than i'll December. The high prices
of many products prevented free shipments, and
thus caused a closer approximation of imports
to exports than has been seen for several years.
The apprehension of large exports Of specie,
which has prevailed for some time, docs not
seem to he warranted by these official returns.
1t is sad already, by deilerS in several impOr-
tant branches of fbusineSs, that orders for foreign
goods have diminished, and in one considerable
branch the iron business. the present tendency
Of prices is such as to render larger imports for
some tme to come improbable. The imports
at New York in March were larger, it is true,
than in February, hut the exports were also
much larger and. if the ratio of imports and
exports here to the aggregates for the whole
country should he the same in March rs in Feb
ruary, the excess of exports for the month
would be about $10000,O0O. Those appear
TO have the right of it, therefore, who hold that
there is no cause for any continued siringcncy
i'm the money market beyond tls week or the
next. though it Is impossible to say how soon
the return Of money from the interior will
suffice to place the money market quite beyond
the control OF strong operators. There was sharp
bidding for money last Tuesday ut cOnSd
cradle premium and loans of large amount were
called by scmc banks. but such u Temporary
pressure is not unusual at the close of the
quarter.
Prices Of merchandise continue TO yield on the
whole, although foreign adviccs rs TO wheat i'll
dicate that the demand flUm This country is
likely to prove quite ~ lnrgc ns has brcn 'cx-
pcctcd But III Olhrr b:anchc, OF trade. price,
have been advanced and sustained without def
mite rcas III in .hc relations 0t nsrcrIainablr
supply and probable demand. and the drclin"
which has appeared .cs not scrm likely 10 be
speedily followed by another upward move
mcnt. The large strikes III some industries.
though temporarily disastrous both 10 w0rkmcn
md manufacturers. are altogether i'll timed for
the wOIkmrn. brcau,c the condition of the
markets is such that the manufacturers can
we'll afford To suspend production until arcumu
lated stocks have been d-po wd Of. Ii Is one of
the penalties of II too rapid advance III the
price of manufactured prOducts that, while it
tends to cause Il speedy reaction. it encourages
yolknen to believe that they can safely de
mand an increase in the cost Of production.
TIE progress of industries toward II solid and
cnduing prosperity might i'll this way De easily
arrested.