New-York tribune., 1880-10-25
wI,Y RTNTNES> rs BRISK.

fIcc trade record.
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UHY BUSINES, IS BRISK
The remarkable stimulus gwen TO business OF
all kinds since October II Is by every one
attributed to The triumph Of the Republicans IN
Indiana and Ohio. The inn cdate effect, as
was recently shown, was a rapid advance III
United States bonds and other securities, winch
20 greatly appreciated in value that last week
the institutions and individuals holding them
were certainly the richer by not less than
800 OO0,0 on account of the elections OF
October. But the Improvement WAS not con-
fined to bonds and stocks. \ more active move
mcnt, and some advance in prices, appeared IN
-four. wheat. corn, provisions, sugar, naval
stores. and cotton and wOolcn goods. In some
cases the advance or increased activity was IN
part directly traceable to tie removal Of ap-
urehensons as to the futdrc financial policy OF
the Government, but more generally itappeared
10 be the indirect efi ct Of assurance that the
prosperity of manufacturers, traders, bankers,
and investors is not to be interrupted by
Democratic victory. Ii must be considered,
however, that public opinion will hardly be-
come fully settled IN respect to the financial
and industrial future until the election has
t.ole will soon be doubts created, in the minds
of business men who devote little time to po-
litical reading by the noisy boasts Of Demo
Gratis, their professions and NEE ings, and the
preposterous falsehoods of their organs. a
great many men will soon begin TO fear keenly
agan thai the Democrats may after all sue
ceed. And second, as the election draws near,
strong apprehension viii arise of some dispute
IN regard to the count, and, If the result Is
close, this anxiety will increase after the cleo
ton. Hence, it would not be wise to count
upon any continued activity or advance in
prices until after the Presidential contest has
been decided In fact, slight reaction in the
price OF Government bonds, wheat, ana some
other Al tcles has alrea ly appeared.
Apprebensions arising from financial sources
have been greatly allayed during the past two
weeks by the continued movement of specie
from Europe, ana by the news as 10 European
supplies of grain. On the 10th, for the first
time in several months. the surplus reserve in
creased and it was Thought by some that the
usual return of money TO tins city had COM
mcnceI. But il was evident upon examination
that the banks aud the Treasury did not yet
retain all the specie received from abroad.
On Saturday last another considerable decrease
in the specie reserve appeared, amounting to
S1.75O, 400, notwithstanding the very heavy
specie imports. The decline is doubtless due
in part to the system Of reporting bank aver
ages only, for the larg st amount of gold ever
brought by a single steamer came in on FIJI
day. so that it had no effect upon the bank
report. Exclusive of that amount, however,
over $4,000 coo in gold has been received
tlp
Treasury and the banks report lSS specie
October %, by $679,374, than they reported
October >. As long Is 50 large drain OF
gold INTO the interior continues, 1t Is OF vital
importance that the receipts from abroad are
well maintained, and the entire imports last
week amounted to SG. II. 131 in gold, while
shipments of nearly -. 100000 on Saturday
from Havre are reported by cable.
The surprising loss of gold by the Bank of
France, in spite of an advance in the rate Of
interest designed to check the outflow, attracts
much attention. 1t appears that the bank not
only lost about S0,7l0,000 francs in one week,
but lO3, $50 900 during the last two weeks
ending on the 2lst IniS must reduce the
stock of gold held by the bank below
Isl 900. 900 francs, or about $1l6,000,000.
Austria. and Ike sum to Egypt besides the
3O 600 900 destined to this country, it seems
not improbable that the demands upon the
French reserve may compel the bank TO take
snch stringent measures as to draw heavily
from the gold in circulation in France.
II does not yet seem able to arrest the out
flow to this country, and the recent shipment
of several cargoes OF gILin for Marsellles and
other Mediterranean ports. with the mfOrma-
tion that others are still to be sent to the
same quarter Indicate that the demand for
the repenshmcnt OF depleted reserves in
southern Europe is larger than was expected
and more urgent. News from France, too, is
less favorable as To the amount of yield,
and it is now thought that as much
rs &c, 100000 bushcli may be required by that
country alone. The British crop grows more
and more disappointing, and, if the later esti-
mate of twenty-five bushels 10 the acre is cor
rect. about l2O, coo. 600 bushels viii be needed
by Great Britain from abroad. Russian adj
vices continue extremely unfayorable, and it
is now clear that the rest of Europe can OBJ
tain but IA small quantity of grain from that
quarter. Thus the prospect for marketing the
wheat crop of this country at fair puces is
better than it has been at any other time this
season.
Like General Grant, the Il pa blcan party is
troubled with splnc a. tue back.