Savannah morning news. [volume] (Savannah) 1868-1887, 1882-10-31
The CoudItion of Business.

There is nothing specially sensational
in the business world at present. No
failures of any moment have been re-
ported of late, and there is decided
lack of interest, comparatively speaking,
in speculation. Our foreign trade, at
this moment, seems to be attracting more
attention than anything else
September exports of breadstuffs are
reported by the Bureau of Statistics at
$24, 500 067 in this year against $19, 947,
ABB in 1881. But this is the only increase.
Exports of provisions for the month were
but $7,453, 7S4, against $9,695,21s in
September, 1881. Cotton exports are
estimated to show a decrease for the
month of So. 400, 900. and petroleum
drops about 81, 2OO,OOO Taking the three
months ending with September 30, the
breadstuff exports were SOS, $50, 53S in
1882, $50, All, 721 in 1881, and $86.S47,-
592 in 1880. The shortage of the CORE
crops stands out plainly in the contrast
between the exports of $40, 522, S76 IN
1880 and 81 ,256, AIS this year.
When we come to imports there are
but the faintest signs to be detected of
any decrease in their amount. Last
week New York imported 500 600 less
than in the corresponding week Of last
year. A decrease of that amount in a
total of over so, 900, 600 is net large
percentage. Since the first of the year
New York has imported $50, O67, 913
more of merchandise, and has exported
$50, 100, III less than last year.
1t seems, then, that there is no good
reason to anticipate any inflow OF gold
into this country from abroad at present,
and there is no indication of an improve
ment in our exports. Western papers
think that the movements which have
already taken place were not altogether
healthful, but were the result simply
of the temporary shipments of surplus
of grain by the farmers of that section.
These shipments, however, will now
cease, as the majority Of the Western
farmers will not throw any more grain
on the market at present.
A very noticeable and dangerous fea-
ture in business is the extravaganza in
dulged in, especially in the North and
East, in the reckless importation Of for
eign luxuIies-an extravaganza which
must, unless checked, soon make its
disastrous influences felt. 1t is this
which keeps the balance Of trade against
us, and is continually draining away the
resources of the country. The press is
already sounding a note of warning,
and the Chicago Tribune, in its
last issue, reminds its readers that
when in the fall of 1880 it became evil
dent that the country, intoxicated by its
imports of foreign gold, was plunging
into new enterprises at a rate that would
soak up all Its money and bring back a
panic. halt was called by the conserva-
tive press and the disaster averted. When
the men who were signing their names,
without stopping to think, to all sorts OF
schemes had the grand totals of the liza
bilities capital was mourning placed
before their eyes they drew back.
The same cry of warning then raised
by the newspaper press can be repeated
with propriety and wisdom now, for
there is good ground for alarm over the
prevailing extravaganza. Our Northern
contemporary wisely says: Gan extrava-
gance of speculation has been followed
by an extravaganza of living. Expan-
sion of debt will follow, and that will
be the beginning of the end OF our
vacation from panics."