New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-07-25

and as long as that indebtedness remains I'M
liquidated, gold will 20 whenever Europe de-
mands 1t, if not for the Italian loan then for
some other USE Change may be hoped for
soon, If wheat is not pushed up again by spec
ulatiye influences, for the export movement
began to be considerable last week, and would
doubtless have been larger had not ocean
frelghts been so suddenly and largely adj
vanced. The imports continue very large;
though the June returns gave hope that the
movement had begun to decrease, the receipts
at this port last week amounted to
$11, 443, 2O9, against 1897 900 for the cor
responding week last year. 1t will require
larger exports than we can safely count upon
to bring about favorable balance OF trade,
If imports are to continue at this rate. -
Though the shipments of specie counted
only about one-half their amount in bank aver
ages, the reported decrease of $1,677,7OO IN
specie held by the banks was not unexpected.
For the Treasury gold balances, exclusive OF
transfers to the Assay Office, had averaged ior
the six days ending on Friday $97S,697 more
than for the previous six days, involving
loss of that amount in bank averages. But
the Treasury lost on average $224,3lo IN cur
rency while the banks report loss OF
$46S, 800. Probably considerable currency
went to the interior, though the unexplained
discrepancies In the statements of last week
and the 18th, as to the relation of deposits to
other items, render differences of small value.
The banks evidently held less gold at the end
of the week, and probably less currency, than
their statement indicated, and have entered
upon the ebb-tide of reserves which is expected
at this season. But they will have important
reinfOrcements next week, for the Treasury
will then disburse So, 100000 for interest on
the extended five per cents, and much larger
sum for so many of the $15,OOO,OOO OF bonds
as may be presented under the call maturing
August 1. The amount of called bonds
redeemed last week was only $776,6OO, OF
which 1926, 45O was of the call which matured
July |, 1868, 500 of the one which matured
in June, and the rest of older calls. Hence the
amount redeemed this week will probably be
unimportant.
The prospect of reasonable legislation on
business matters has nos improved during the
past week. The change i'll the revenue bill,
affecting the tax on tobacco, increases the
danger that the bill may fail altogether, either
in the Senate or by disagreement of the two
houses NO effort Is maue 10 huSptIu Iuc COin-
age of silver and the issue of silver certih-
Gates, but it is noticeable that these certificates
have been dumped into the Treasury in I'M
usual amounts since the stupid effort to force
clearing houses to use them. At New ork
S491 900 silver certificates were paid to the
Custom House during the last week of June,
S571 900 in the first week of july $500, 200
in the second, and $S04,O00 in the third
week Apparently Congressional action has
not increased but has distinctly diminished the
Willingness to have such notes on hand. There
was an increase of $493,O00 last week in the
amount of bonds deposited as security for bank
circulation, and Mr.. Knox is quoted as ex-
pressing the belief that the new act will cause
an increase rather than decrease Of that form
of currency. At this time in the year, such an
increase would be quite desirable, as it would
lessen the strain upon monetary centres Tor
cold to be used in the interior. But the opln-
ion of Mr.. Knox was probably based upon
belief that the pending revenue bill would
pass. which the recent course of the Senate
has rendered more uncertain.