New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-08

bond payments to be made will merely restore
to the market money previously drawn from
it, Hence, in the main, the specie that may
go abroad must come from the banks.
The NewYork banks lost in specie average
last week $24S, 800 and the average of Treas
ury balances for the corresponding days in
creased $257,313, so that one change sub
stantially accounts for the other But the
s., 900, 900 in gold, though shipped on Friday,
counted in the averages only one day, so that
the banks must have gained little gold from the
interior, but, at the end of the week, must have
been weaker in reserves by nearly S2,OOO,OOO
than the averages Indicate They hold, ac-
cOrding to the statement, So 650,35O i'll excess
Of legal requirements, and this surplus would
be soon exhausted by any serious outflow OF
gold, unless greater stringency in the market
should serve TO bring in more money from the
interior. During the early summer, when
money isnot in great demand in other cities,
this would probably happen, but the pressure
would be apt to be severe, in that ease, when
the movement Of crops begins. The
more money the banks OF the interior send
hitler in early summer, the more they will
wish to draw out when crops begin to come
forward.
The obvious cause OF the outgo of gold is
tie decline of merchandise exports and the in
crease of imports. The monthly statement
for March, jl,t made public, shows an adverse
change of over $50, 900, 900 in single month
"A decline Of $50. - 1855 in exports, and an
increase Of s., so in imports. The ex-
ports were smaller by about S6,OOOOO IN
February, but trade was exceptionally slender
in February, 1881, on account OF severe
storms, and the decrease in February, 1882,
was only Sll,21s,51S. But the imports in
March were the largest in any month for
nearly two years. The returns for nine months
of the fiscal year have been as follows:
1-82. 1881 Difference
Exports 80, -. -. - go 80, oe9 -,
Forcisn.......... l27l'o5i l3,3I3.I55 099O4
5272j2Is ico06o453 50l7lGi9
Excess Exports. sG5olo.2l5 s-34slo70o slGJs9o545
At New-York alone for the weeks most
nearly corresponding with the month OF April,
the imports were $l5,21s, G97 in 1852,
against $50, 1873, 124 in 1881, an increase of
$50, 100, 573, while the exports were
SOB, 2j9 $50 in 1850, against 2712797G in
1851, decrease Of 1850, l37. As imports
have also increased and exports decreased at
other ports, the balance in April must have
been considerably against this country.
The disastrous weather last year does not
account for the whole Of this change. 1t does
not account for the remarkable increase of
imports, nor for the decline in exports OF
some products. But no good reason is seen
for expecting Il desirable change in foreign
trade until a certainty OF large crops here and
of large demand for our products abroad
promises great increase in exports, and
causes such a general decline in prices that
this shall cease to be the best market in the
world in which to sell good, of foreign make.
Until that time the country viii probably con-
tiuue to run into debt and to make part pay
mcnt5 from time to time by shipments OF
specie. With good crops and good markets
next fall any balance against Us would soon
be cancelled.