Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1882-05-31
DAILY Observation-Disclosures
ceLD ExreRrs AND TsADE.

The export of gold from the United
States continues undated; and must
continue while the conditions Of trade,
which have remained substantially the
same for a year past. remain unchanged.
While prices are higher here than else
where, this will be sgood market to sell
in and bad market to buy IN; hence
foreign purchasers fall OF, and the
amount Of goods bought By Us in the
worlds markets increases; and there 10
a continuous decline OF merchandise OK
ports and an increase Of imports. when
n nation buys, month after month, more
than it sells, the difference. as In the
case of any merchant. must he PAID IN
cash. in the worlds currency. Thsre-
fore. the balance Of trade remains
against us, and the balance Of indebted
mass ia settled by sending the necessary
amount of gold abroad. That there u
no prospect of On immediate change u
evident from the monthly statement OF
imports and exports for March. which
has Just been made public. Thu: month
witnessed further adverse change 20
the enormous amount of more than *%),-
100000. Exports declined S22,4oi,Z'5,
aud imports increased 81. ss3,519. Com
parino the nine months now past OF the
fiscal wear which ends June 30, 1857,
with the same period of the preceding
year. the proportions Of the change be-
come apparent. The total OF exports
for this three-quarters of a year fell on
xlll,.iss 1903. and the total Of imports
rose S5s,i7i,GI2. The United State mas
therefore, a little bill TO settle with the
rest Ut the world. amounting to abo1'
$4,000, 900: and it is running deeper II
debt every day. whiis the Quito" OF spe-
c,e cont,nue, 70 cancel obligations al
ready incurred. Accordingly We hnd
from the official report of the movement
of specie that, since January !. lo52, tia
net export of god has been about gil
:yUOoo, white the same months OF 1873
witnessed ne. import OF OYER :2".'p'
90. The tide has set strongly IN the up
posite direction, and the question o
some months ago, as 10 whether the ex
port of gold WAS singular aud acciden
tai phenomenon or the beginning o
one of the great international oscilla
tons of money and prices. seems 4
have been pretty positively answered
From January to April ] tue gold II
the treasury decreased $',1s9lO. am
that held by all the national banks de
clined some $3OO0O0 A part Of thi
di,pipu.ion was absorbed in the int
rior districts Of this country. but two
thirds of il went abroad, and was per
manently lost until commercial revu'
sion shall force It'd return by the SAM
influences which caused its departure
Nor can such n Revision occur, az vii
10 easily seen, until general decline o
prices shall make the markets OF th'
United States once more the host plac'
Ill Hnlch 10 Duy anu tue PS3icst IL
which to seli. The present state OF az
fairs need not inspire that horror which
infects the mind al the bare mention o.
the fact that the ''balanco Of trade i
against u.s. only in 80 far as the condi
tions which produced 1t and those which
maintain il ara unnatural. II ia clsal
that, when trade is normal between sew
eral prosperous nations. they cannot al
lHvu tiIc D~sr.s.o~- - ts-.2s in thair4fara,
n the Same time. The export of gold i
left to act freely. reduces the money
supply of "a country, brings down prices
and thus, by its own corrective ini'nen
ces. establishes healthy reaction.