Savannah morning news. [volume] (Savannah) 1868-1887, 1881-11-17
The Foreign Commerce Of the United
States.

In 3 recent issue the New York Fl
naneial Chronicle contains an article on
the present condition of the foreign COM
merce of this country, which is very
interesting. 1t shows that in Septem-
Der, 1880, our exports amounted to
81, 225, s97, while this year they reached
only to So, 42S ,s76, while at the same
time our imports have risen from $685.
22S, 651 to $55, 6j9, 026. AS result the
merchandise balance" in favor of the
United States was only $6,769, $50,
against ST., 997, 246 in September, 1880.
Regarding the increase in our imports,
the Chronicle remarks that the larger
total this year appears to be natural, and
the movement bears no trace as yet OF
undue expansion. The imports in the
first part of 1SSOwere swelled to unusual
proportions by speculation. In this way
large stocks were accumulated into the
country, and when speculation col
lapsed the Accommodations were still on
hand and importation fell off. Our New
York contemporary also thinks that
future indications are discOuraging be
cause Of the large amount of railroad
mileage projected to be built within the
next fourteen months. This will call
for large supplies of rails and all kinds
of railroad iron, and as our own mills
cannot supply the demand the supplies
will have to be imported.
Regarding the exports our New York
contemporary takes a still more gloomy
view, and thinks that the discOuraging
features have already manifested them
selves Enthusiastically. 1t attributes the
reasons why the total exports for Sep
TENDER were smaller than those of any
other month since February, 1880, sim
ply to exorbitant prices which apply TO
grain, provisions, ETC., all chief articles
of export. It remarks that the exports
Of breadstuffs show falling off of pretty
nearly four million dollars provisions
falling off of over a million and half
cotton a falling off of eight or nine
thousand bales; while petroleum, which
appears to be an exception TO
the general rule, shows an in
crease in exports from $3,712.763
in September, 1880, to S4,7o2, III
in 1881. Making a liberal allowance
for the falling off in cotton exports, the
four items here mentioned do not come
within three or four millions of making
the aggregate loss on all items. This is
quite the reverse of what has been the
case all along. Until the present month
these items have usually covered, and
more than covered, any loss in the aggre
gate, leaving for other items an increase.
There is only one conclusion to be drawn
from the change, and that is the unfav
orable one, that miscellaneous articles
no less than our chief staples, are sharing
in the diminished outward movement,
due in part to higher prices also ruling
for such articles.
Commenting on this condition OIL
affairs, the Chronicle reasons thus plausi
bly,:
''What makes the present situation
the more to be deplOred is that there ap
pears to be so little basis for the extreme
values ruling. While our exports OF
breadstuffs are shrinking to very small
dimensions, our stOrehOuses here and al
the West are filled to OVERLOOKING. Ac
cumulating stocks and rising values
are not natural cOncOmitants. Sooner
or later holders will be forced tC
realize this. At present, if prices were
reasonable, we could find a market fol
our surplus products; later on, there is
danger, in the case of grain at least, thai
the surplus will be left on our hands,
foreign consumers having gone elsewhere
to supply their demands. The sooner,
therefore, the speculation collapses the
better for all concerned.