New-York tribune., 1882-08-14
THE MONEY MARKET.
e,-.D.v AUG. 1872. ".

oro,orison with the same month "a - ,o.,+b
fror,lle than was the comparison i0i -. IN,
ofNav vet # is unfavora5le. IN 'uno -. -. ond
u nay ;.r,s were So 747727 grealer' anu
mercaa"u'So s were 81 > 400 40S less than
the mcrchanu'' -, difference OF S1623S'l3o
III """o' +-v An increase of - 81 hos III 'lo
ak 8 ,ocie against an increase OF oAly plli'
ir,,orts OF specie. however. reduces '''
5.e,ro,,e for the month 10 ll,43A'o" agA'"s'
,r,-e,co NJ SI4 lG3. .269 shown by the comparison
- month Of May. Last year the exports VI
merchandise IN June exceeded the imports u ",''
chan1ise during the same tImo Sl,2-'.4|Vi sH'S
wear for the same month the imports OF uie'0
exceed the exports 81. 1.7OS'ooo' = ,,,,o-fs
The following table shows the totals OF ii'polU
and exp0r.s OF merchandise anu sPo
months of June 1881 and 1857
IMPORTS
1881 oo .eJ Iss2 sss ,qe ,od D'hsrsnfs'7 sy fe'7s7
spssie Msro,A'ai'o . - S52545 lo79s25 Inc II-,2sO
Tot,l t-apor,, s5g;ss53J2 s6&7i2,359 Inc s3so'oo'
EXPORTS.
lsso 80 s5sS5s-l 5Ss7 pgo Pi:sEs9SS'i 9S%ios
sSees ssTeeanal.o . so 1856 6s9555 Inc lsiia2s
Total exports s5Ols4.o74 s57,s5ao24 Dec s7''e'o0O
Exports IN excess 555.ge2 w -.-.-.
1GpoT,,s ,,r4s II eAceS' s.ss&S35 u.iSia57
The report for the month OF June completes the
Coserornort's Is fiscal year. For tie twelve months
the merchandise movements Of two years compares
a. follows Year ended June 80 losl-EXports
500 377. SAC; imports, $642, ,664.62s; e1por's
over lulports. $3.50 712,7lS. June 30, lo02--f'4-
norts. $3.50. .35l.l73; imports. S724.G23,3lT ex-
ports over imports S25.727.o16; decrease
S233. 3.9s4s62. The specie movements Tor the SAM
time compare follows; lsol-hNpor1S'
s1o4o6. s47; imports. S1lO,575497 imports over
exports. S9l, los. $50; lss2-Exports, SO 4723s0
imports. S42.472.39O; exports over imports
S6q4O So; difference, S9S. los $50. The net re-
sults ,,f the merchandise and specie movements for
the twelve months are: lSSl-ExpOrts IN excess
of imports Sl6S. .544 O6s; 1SS2-Exports IN ex-
cess Of imports $32. .66S. .O42; decrease Sl35.o76-
O22 The unfavorable change IN our foreign com
merce however, began about October l, 1851 we
therefore add the figures fOr the month OF June 10
our previously published comparative tables from
October l. making up "A record Of the movement ior
nine months. During that nlne months the decrease
in the amount of exports In excess OF I'M
pors-Inerchandise aud specle-was only 90, fOO,-
600 less than the decrease for the whole
twelve months. For the nine months
ended June 80 1882 compared with the same
perjod of the preceding year there an increase
in the merchandise imports Of $7S,425S74; de
crease in the merchandise exports Of Sl36,266,l72
difference against the country S214692. .046; there
was a decrease IN the imports Of specie OF
S5635s s45 an increase in the exports of specie OF
S27 $50 72s For the nine mon hs to June 30 1ssl,
,he merchandise exports exceeded the merchandise
iu,norts @2l OF 299: and tor the nine months TO
Jnns 30 1852 the merchandise exports exceeded the
merchandise imports only S23sJ.253, decrease,
S2l4 $50. .O46. The grand result-includ1ng the
1perchandse and specie movement~-is that the eX-
cess of exports over imports for the nne months
snae. lime 80 lsS2 are only 81. 1920 against
IN excess Of S154575,4ss for the nine mouths
ended June 30, 1851; decrease. Sl30, f73473.
g. d fe tho
movements Of merchandise and specie for the pc
rod Of nine months ended June 30
nIPORTs.
o''Gge1 GSss 20 leso,sl. lss,ts9 differences.
McrclSnse. s475s55955 s554 % 7s9 Inc sz94zo's,i
sgeee.-..-.-.- ooolOlo9 -9.o9l,yIl Dec @ oooo-o-o
Tota, imports s555s s5779sS7lc Inc s22o67029
EXPORTS.
spees..--.--.. l7.5os,9i5 +'Ssa675 Inc 27,a5s,729
Total exportS s7lOt54I6a seo2O45 rs Dec. slOslOo4H
E1poE III sa &
mort Sorfs I'm % IN l54.s75.iss 2lIo2Ol5 Dec. IsO47347s
In view o. the foregoing statistical comparisons
and of the random talk Of an early resumption OF
specie imports, retrospscton may not prove 10 be
ipOpyortune. On July J. 1881, after a business Of
nine months there was apparent balance OF trade
Us shown by the movements Of merchandise and
specie-of $l545754Ss III favor Of the United
States The importation of specie from July 10
December 81. 1851 tine importation practically
ceased IN Novemberl $26OO0,O00. On July l.
lss2. lDou the same basis, the balance Of trade III
our favor was only S2i, l02O15 a difference OF
Sl3O473473. Deduct from that difference The
amount OF specie imports after July !, last
veal and there is remaining difference of about
Sl0j.OOO. 900 to be overcome BY exports In excess
o. imports before there may be hopes of specie I'M
ports r the movements ~ NewYork for July bore
tie usual ratio to the movements of the whole
country that month passed wi ithOut bettering the
stuati1n Compared with July. 1881, the imports
of merchandise at New-York last month werc
SS3OOOOO greater aud the exports were Sl,SOO,OOO
smaller. Hence It ~ reasonably certain that any
improvement cannot date from earlier than August
/ The question Is. How long VIII it take
70 restore the equilibrium first, and
after that is done 20 turn the balance so that gold
Will cone-not a lOan--but IL settlement OF trade
balances After July !, $40, the average Of monthly
excess OF exports imports of merchandise was
So, ,7JO 600 in 1850 it $26.950,OOO and IN
1881 10 was SIG, $50. 900 II We accept the figures
of 1850 as the probable result for this year from and
after August l. the equiil brum will not be restored
until December if those Of 1881 are the basis of
calculation. it will require ten months Of course
there are other elements which may affect the flow
Of polQ-such as the movements OF securities and
difference in the condition Of the money markets
home or abroad. But from commercial point Of
view there seems TO be reason TO expect an mpOr
tatou Of specie this year, while whether or not we
shall export mnoh more specie depends upon the
requirements OF the money markets OF the nations
&c which we are in debt.
The result of tho foreign movements of merchan
dis last week at New York is only little different
from that of the week Of last year. but that
difference tSl5O,O57 is against the port The value
ofthe merchandise inportedlast week Is SO I1S-s61
or $259,2OO more han for the week of 1881 the