New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-04-20

ing date last year, but the reduction WITHIN inc
previous month had been 3,209,147 bushels,
against 2,79s,212 last year. The movement
of corn and wheat from the Northwestern ports
has become extraordinarily large, amounting
for the two weeks ending April 10 to
3,7OO,176 bushels of wheat and 9,696,6s9
bushels Of corn. against 1,S45,695 Dushels Oh
wheat and 2,939,873 bushels of corn for the
same time last year. Thus the decline IN prices
has greatly stimulated the movement, both Tor
export and for domestic consumption, and thus
has proved an advantage to all, except those
who had loaded up with large stocks at high
prices.
It was high time that the exports should
increase, for the imports show no sign OF abat-
ing. Since January / there has been an in
crease of only 90 per cent in the value OF
domestic products exported from New York, but
the increase in value of imports here has been
nearly 65 per cent. The imports last week
amounted to S12,273,7Os, and have been ex-
ceeded in only one week for several years.
Still it is certain that the decline Of prices here
must before long check the movement Of goods
hitherward. Iron, for example, will not long
be imported in large amount after the price OF
American iron falls below the point at which
British iron can be prOhtably delivered here.
But in respect to iron, and many other import
ant articles, the decline has by no means
reached that point as yet, and the American
manufacturers may as we'll consider that they
will not have safe command Of the home mar
ket until they offer their products at prices rela-
lively lower than the cost Of corresponding
imported articles. The rise in the prices of iron,
rails and some other products, has been unnatu-
raj and excessive, and healthy condition OF
our foreign commerce cannot be reached so long
as domestic industries refuse or neglect to make
the best use Of their opportunities. Anxiety to
recover in q single year OF prosperity the losses
of several years of distress has compelled the
manufacturers, for some months past and prob
ably for some time to come, to contend against
a declining market and heavy foreign importa-
tons, which more moderate advance in price
would have prevented.
No gold went to Europe last week, and but
little silver; the receipts at this point exceed
the shipments. But it 10 not easy to account
for the largo loss Of specie from the bank re-
serves which amounted to 81, 972, 800, &C.
cording to the statement Of Saturday, in the
face of the fact that the Treasury has gained in
specie only pOHHIOAH uuLiuB thO "OCA' ANU
returns seem to indicate a considerable ship
ment of specie to the interior perhaps to Bos-
ton, where exchange has been singularly un-
favorable to New-YOrk this season, although
currency has been coming back from the West
and South in still larger amounts. Fhe gain
in lcgal-tender reserve last week was
81, $50, 100, and the surplus above legal re-
quirements was $3.50, $50, but only because
there had been a heavy contraction of loans and
a large decrease of deposits. But the loans are
only larger by about S53000,00O than they
were at this time last year or I'm 1878, and an
increase Of fully that amount would be re-
1uired by the advance in prices during the
past year, If there had been no Increase what
ever In the quantity Of products moved by the
aid of the commercial facilities of this city. A
gradual reduction of prices to more moderate
range, and the return of currency from the in
terror will work together to make the money
market more easy, but the fact cannot be over
looked that very large advances of capital from
this city have been and are demanded, for the
building and extension Of railroads and for the
development Of mines. Several banking
houses have in charge large amounts Of bonds,
which they are preparing to place upon the
market as soon as the situation is more favor
able, and the success of these and other similar
financial operations may have an important
effect upon the condition of the money market
and of business next Fall.