New-York tribune., 1885-03-30
NOTES ON IND USTRY AND TRADE.

CoTTay-In an elaborate article The Financial
Chronicle reasons that the selling price OF cotton
has been so depressed by uncertainty as to tho Sill
yer question that the loss to producers this season
must have been $25, 900 900 or more. 1t arrives at
this somewhat surprising conclusion by comparing
the yield and the price at different periods during
five wears ending September / SS4, with the yield
and price Tor the present crop year. Inc average
Weld for the five years 6O97, 900 bales, but the
estimated crop picked last fall it reckons at
$3.50 600 bales or OC0 bales less than the av-
erage Yet the price for five years, taken at inter
walls of two months from September |. averaged
II. ii cents on November 1, 11.43 on January /,
and II AT on March l, while this year, notwlth-
standing the smaller yield, the price was 9.75 on
November /, 11.06 on January |, and lila on
March 1. Thereupon it states that the average for
the five wears was three-quarters OF a cent per
pound more than the average obtained during tne
present crop year. The figures gwen 90 not seeh
to precisely support that statement; the difference
seems to be go Of cent. Moreover, there Is It-
tie unfairness in omitting the year 1878, when
prices were low, and beginning the reckoning with
tbe wear 1879. when great boom in prices began.
In 1878 the yield was 5,073.531 bales, and the
price was 0.43 cents on November /. o.43 on Janu-
ary l. and 9S1 on March 1, showing an average
10 cents below that of this season, and indeed be-
The yield of 100000 bales six years ago was GER
taIpIv as large with reference to the worlds con-
suming capacity at that time, as the yieid OF
300 900 bales is with reference to the consuming
capaclty now Moreover, the general depression OF
bnsncss at this time renders it more falr TO COM
mare tho Weld and the price with that OF lS7S-79
the last year of general depression than with eher
of the intermediate years, duilng which prices
have been inflated by tremendous expansion IN
business
RpIrIsu Coal PRopUCTION.-Sir William Har-
court recently stated in the House of Commons
that the total output of coal in the United King
dom in 1884 fell short of the output IN 1888 by
3.Cl9 900 tons Hence, the production appears to
have been 100, ,5SS, 900 TONS against 173, 737.OOO
tons in 1888. IL is proper to notice that, except
ing in 1888 the quantity OF coal raised was never
rs largo as during the past year. 80 small de-
crease in output naturally excltes surprise, ana
the phenomenon Is only in part explained when 1t is
considered that there was small increase in the
demand for export. The exports of coal and coke.
and the shipments for of steamers engaged III
foreign trade amOunted to 90 600 tons III 1854,
or 7S2 900 tons more than IN 1888. Consequently
there remained for consumption III the United King
dom 130, 600 900 tons IN 1884, against l3fooo'ooo
tons IN 1888. decrease of only 3 per cent. In the
factures and consumption as whole appears 10
have been less than has been generally supposed
THE SILVER QUESTION IN EURoPE.-Closely fol-
lowing discussions III the French Chamber OF
Deputies and in the German Reichstag comes the
announcement that sterling exchange Is being
taken here in considerable amounts as means Oh
avoiding the payment of remittances at Paris III
silver The Bank of France having for some tine
declined to pay out gold, and large amounts OF sll-
her having come in from other countries, some
prominent bankers find themselves mucn emDar-
rassed in meeting their Obligations on foreign ac-
count or in connection with foreign trade. In
order TO avoid the difficulty, instead of buying ex-
change payable IN francs, they purchase sterling
exchange payable only in gold. The announcement
of tbe Minister of Finance that. in the beliet OF
the Government, fresh conference on the silver
ouestlon could do no good, but would only aggra-
yate the evil does not appear to be strongly ap
proyed by many of the bankers But IL seems 10
be definite contradiction of the story telegrapheo
NOT long ago to The Herald that the ffencn UoV-
ornment was engaged negotiations to BRING
about a new conference.