New-York tribune., 1882-04-10
MNNEY IND RTSINESS.


SATURDAYS bank statement was urprise to
many An increase in the reserves was gener-
ally expected 1t was known that the Treas
ury had disbursed large amount The usual
weekly statement of The Chronicle as to re-
Gel pts from and shipments to the interior by
the leading banks was to the effect that
S76l 600 had come in more than had gone
out last week. The exports of gold had been
only $4,000. Notwithstanding all this the
banks reported a loss of $503, 500 in reserves
The effect of Treasury operations can be ac-
curately asccrtained by deducting receipts from
the mint for the six days ending Friday the
average Of its balances was S1,927,s77 less
than the average for the previous week, so
that the effect should have been an addition
to bank averages of that amount. Deductlng
gold exported, the banks should have gained
81, 10000 in money, whereas they report a
loss of $5O3, 900. 1t follows that a large
amount of money was shipped to the interior
in excess of receipts thence, contrary to the in
formation given by the leading banks or that a
large amount was withdrawn from the banks
to he held in this city for some speculative
purpose.
The movement of specie has not been large,
though any exports at this time occasiOned
some disappointment. The Bank of England
lost largely during the week ending on Thurs
day, but the movement was evidently tenn
porary one, connected with April settlements
by the Government or other depositors, and a
large part of the money had returned to the
bank before the week ended. The Bank of
Germany lost over $1,0O0,OOO, but perhaps
in a similar manner. No pressure in foreign
markets is needed, however, to account for
some shipments of gold from this country
when merchandise exports are so small and
imports so large as they have been of late
Since January the exports from this port
have been about $2O,OOO,O00 less and the
imports $22, 100000 more than those of last
year to the same dates The outgoing vessels
are offering the lowest rates for freight ever
known from Chicago contracts to Liverpool are
made at 20 cents, and at Boston q premium
has been paid for freight as ballast, so that it
has been taken for less than nothing, while
several cargoes of wheat have been taken
from this port at three-quarters of a penny q
bushel, or 56 cents a ton, and some cotton at
one-eghth by steam to Liverpool.
1t has taken more than six months for the
full effects OF the great drouth to be felt III the
markets. But tie recent shrinkage of exports
is in part legitimate consequence Of partial
failure of crops, and in part a result of specula-
ton. Though prices were pushed still higher
by the cliques at Chicago, the receipts of
wheat during the first week of April were
only S7,13S bushels, against 1s2,3SS last
year, and Of corn only 299,577 bushels,
against 566,429 last year The wet weather
has made the roads bad, and, moreover the farm
ers are impatient to begin preparations for
new crops, and i'll many localities have al
ready put in the seed. The wheat crop promises
70 be unusually early, but until it comes III the
receipts, both of wheat and corn, seem likely
to be small. The exports for the week ending
April l from the six principal Atlantic ports
were only 5000 barrels of hours against
1925 in the corresponding week last year,
only 51O,1OS bushels of wheat against
1,701, 1873 last. year, and only 425, IS bushels
of corn against 2,553,74G last year. The ex-
ports of cotton for the week ending Friday
last were S1,3G5 bales against 156,5S7 during
the corresponding week last year.
These circumstances show that some move
ment of gold to Europe is not unnatural but
the conditions would change entirely with the
harvesting of good croDs. Some reserve of