New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-10-30
MONEY md BUSINESS.

FxDOrts last week exceeded those or the
corresponding week last year 81, 496,2oo,
while the increase of imports was only
S77,51O. For four weeks ending October Is
the value of imports mt New'1Ork has been
only about $500 900 more than for the same
time last year, viz, $34,075,Oll against
S34,1G4,G33 But for four weeks ending on
Tuesday last the value of exports OF domestic
products from this port has been $1,5OO,OOo
larger than for the same time last year. VIZ,
1928, 392,478 against S26, 295, 543. This In
dicates that the state of foreign trade Is
definitely improving, and that the returns for
October will show an excess of exports
amounting to about 100000 900, for the ex-
cess IN Octob,r, 1851, was over $9,OOO,OOo.
Cotton is now the important outgoing item,
and the exports for The week ending on FIJI
day were .271 bales, against SI3o4 Tor
the corresponding week last year. Inc price
has again declined sharply, and on Saturday
was 1869 cents for middling uplands against
11.12 one week earlier. The business In
wheat has not been large except for specula-
ton, though the price has fallen during the
past week from 81 10li to 81 Oo for NO.
2 red winter. Receipts are so heavy that
buyers look for still lower prices. No exports
of corn are to be expected, Of course, but the
price dropped last week from 81 to 81 cents
for No. . mixed. There was also a small de-
cline in oats and petroleum, and lard closed
at ii 80 cents, against - cents on the pre-
vious Saturday. These changes strengthen
the hope that the Improvement in exports may
last and become greater hereafter
The condition Of foreign banks and the
course of the money market abroad do not at
ford support to the theory that improving ex-
ports will soon bring gold this way. The
Bank of England during the past month has
LOST about $4,000, 900 of its specie; the Bank
of France has lost $i,G0O,0O0 in gold alone {;
and the Bank of Germany, at the date OF lat
est mail adyces, had lost about $S,5OO,OOO
in two weeks Instead of the gain OF
50, 900. 900 in the first week OF October, SAID
70 have been reported by telegraph, the bank
really lost in that week SO, 4S5,OOO in specie
Ii is to be expected that the foreign banks
vvould make strenuous efforts, under these CIR
cumstances. to prevent loss of gold to this
country. if that should be threatened.
But the existence Of considerable balance
vet to be paid from this country to Europe,
and the fact that freight-money insurance,
II,
ers cancel any moderate excess of merchandise
exports over imports render 1t not probable
that foreign gold RESI- yes will be seriously
threatened by us for some time to come.
The Treasury has continued to Issue gold
certificates, in response to an Increasing de-
mond. and there is much complaint that ar
ronrements have not been made for their issue
elsewhere. Banks in Chicago have evensent gold
to this city to deposit for certificates to be sent
hack ththcr, at a cost of 81 go per $1,000
for the whole transaction. The failure OF the
Secretary to accommodate the public IN TINS
matter. though he went beyond the require
mcnts of law in order to promote the issue OF
silver certificates at distant points, elicits much
sharp comment. The SILVER certificates are
still gravitating to the Treasury, $4,000
having gone into the Custom House here last
week, while none were issued. The remarkable
change in the kind of money used for payment
of duties is shown in the following statement OF
..a;.,., NJ tho CustOrn House for five WppkSi