Savannah morning news. [volume] (Savannah) 1868-1887, 1882-05-06
Mem York Times

Neto York Times
The review of the twenty-fourth annua
report OF the New York Chamber of Com
merce, prepared by Secretary George Will
son, contains much interesting information
regarding the special work of the institu-
tion and the important movements in the
various branches of commerce which affect
| the interests of this city and State 1t shows
| that, so far as the national commerce ii
concerned, the balance of trade is shown to
be many millions of dollars In favor OF
America. The progress of commercial af-
fairs consequently has been set down as
favorable, with promising outlook for the
| future. The review at the outset comments
| in reassuring manner upon the "pause
/ in the marvellous progress which was appar-
entity unsettling the relations of the CONNER
| ctal world. The continued 1ow to the United
| States OF the precious metals, in settlement
| OF the balance of trade in its favor, has
brought on a financial crisis In Europe, with
| pale reflection In our own money markets.
| The extreme of expansion in the United
| States, based upon this large addition of the
| precious metals to the circulating medium
of the country, seems to have been reached.
A slight return Of these metals to Europe
creates alarm aud distrust. There is no real
cause for such alarm. The fact seems to be
that the United States, In it's great CONNER
cial and individual activity, has grown up
to the full measure of its circulating me-
dium, and that any diminution of 1t will
henceforth be Immediately felt. In word,
that the country has at last, after twenty
years OF financial autonomy, resumed her
. ace among financial nations" In refer
ence to the important subject of railroad
transportation the review speaks in hope
full tone. 1t says:
"The long cherished purpose Of the
Chamber to procure the appointment of
Board of Railroad Commissioners, with
powers similar to those of the Railroad
Commissioners of Massachusetts,, seems
now within reach. and there is reason to be-
lieve these great highways of commerce
may soon be brought within the legislative
supervision contemplated by the cons iitu-
tion of the State"
The review makes particular note of the
enormous increase of immigration to this
country. 1t says:
"The enormous figures of 1873, when the
number for the year ending June 80 was
459, SOB was nearly reached in 1880. when
the number for the same period was 457, ,257;
but in 1881, for the same time, the startling
figures of 500, 43l appear. These are the
figures from the Washington Bureau of
Statistics for the fiscal year The report of
the Board of Commissioners of Emigration
of the State of New York show the arrivals
I'm the calendar year 1881, at the port of
New York alone, to have been 435, ,6S1,
against 327, 81 in 1880. The promise for
the present year, 1882, is of an increase over
these figures even"
The review gives extended space to an
analysis Of the progress of the various trades
and the records of the imports and exports.
The total value OF foreign imports into the
United States, including specie and bullion,
IN the year ending June 80, 1881 amounted
to S753, ,24O, 125 against $760, ,9S9 056 the pre-
vtous year. or this, New York received
S535, 753, ,S16, against $543 sos, 1893 the pre-
vious year; the share of New York for the
year ending June 80, 1881, being II per
cent. of the whole The total value of do
mestic exports of the United States, includ-
ing specie and bullion, for the year ending
June 30, 1881, amounted to 1898, 152, ,S9l,
against $685., ,294, ,246 the previous year. OF
this, New York sent during the year ending
June 30, 1881. $402, ,305 900, against $685. AL
664 the year previous, the share of new York
for the year ending June 3d. 1881, being As
per cent. Of the whole. or the total foreign
trade of the United States, imports and ex-
ports, with foreign exports, $23, ,631 1902,
added,) amounting, for the year ending
June 30. 1881, to 81, ,675, ,024 ,31S, against ST.
6l3,77O 633 for the year previous, New York
had 1854, ,4S8 9O6, against 1914 ,229, 124 the
previous year, or 81 per cent. of the wholeA
The record during the calendar year was
Imports of merchandise into the United
States for the calendar year 1881 amounted
to 500, 1919 654, against $696, ,805, 1857 the pre-
viOus year, showing a decrease for 1881 Of
$26, ,6O6,2l3. The value of the total exports,
domestic and foreign, for 1891, amounted to
1898 547, ,723, against 1888, $50, 149 the pre-
vious year, showing a decrease for 1881 of
$50, 1872, ,426. The total foreign trade of the
United States, imports and exports, ex-
oi of nd h,I l.,
amounted to 81 500, IA, ,377, against 81 $780,
4S6,01 in 1880, decrease of $S2, ,73S, ,639.
The trade of New York for the calendar
year represented in the total imports into
the port of New York in 1881, exclusive of
specie and bullion, was $439 40I ,673, against
S464, lie, $50 the previous year, being de-
crease Of $24, US ,007; and the total exports
from the port of New York In 1881 were
1878, 136, $40, against $415, 1922, 1877 the year
previous, a decrease Of $42. .6S6 457. Pie
total imports into the port of New York,
including specie and bullion, for the year
1881 amounted to 1896, 424 9O6, against
1888, 1856, 766 the year previous, showing a
decrease of $43, 1861, $40; and the total ex-
ports for 1881 amounted to 1886, ,760, POI,
against 1926, l93, ,O99 the year previous, a
decrease of $39, ,432, 1893. The total New
York trade, imports and exports, of mer
chandise and Of precious metals included,
amounted in the calendar year 1881 to the
sum Of 1881, 1856, ,l07, against 1864, ,579, ,S75,
showing a decrease of $50, ,394, 76S from the
extraordinary figures noted for 1880 This
decrease, 1t will be observed, represents the
total decrease for the whole United States,
which is not singular, as New York is the
chief port. This pause In the ascending
scale of exports is to be attributed to the
financial depression abroad, and in mea-
sure, also, to the high prices at which
American products have been held at home
The statistics of free goods imported
shows marked increase, in the annual i'm
ports into the New York markets. From a
value of $82 1000, 900 in 1878 they rose to
$4,000, 900 in 1881, and represented more
than one quarter of the entire importation
at this port
The Clearing House transactions are set
forth with great clearness and compactness
in the review, and are given as supplying
''the best measure of the financial opera
tions of the country, real and speculative"
"1he circulating medium" it SAYS, "has
been enormously, beyond all precedent, in
creased by an addition of coin; and coin is
confessedly the safest basis for expansion of
credit. The transactions of the New York
Clearing House in 1879 exceeded those of
the year previous by SIC, 900, 900, ,0O0 those
Of the year 1880 again showed an excess of
nearly $4,000, 900, 900. The official report
shows the transactions for the twelve months
of 1881 to have been on the same enormous
scale Of progression, being stated at $40
OOO, 900, 600, an increase of 10000, 600, 600
over the $39, 900 ,0OO, 900 reported last year
In discussing the movements in the pre-
cious metals the review saws: "The produc-
tion OF gold and silver In 1881 was $64, ,292,-
096 and the imports $110, 0,575, ,497, making
total of STA, ,S67, ,593. DeductiDg the ex-
ports aud re-exports of $19,406, ,S47, the
total increase for the fiscal year ending
June 30. 1881, was $155, $50, ,746. During
the fiscal year ending with this date there
was estimated to be in this country
S625 9S1, III of gold and silver, the amount