New-York tribune., 1886-07-19
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MONEY IND RUNINESS.

aS THIS may prove, 10 uistlhS'uS" "'o" Wv
records which tell of past traffic and The records
which tell of the present condition OF trade
Railroad earnings indicate a much better busl-
ness in June of this year than in June, 1885,
and the returns of foreign trade for that month
also show considerable improvement. Ihe ex-
changes in June were decidedly encouraging.
But if drouth has burned up the crops In the
Northwest half as much as some believe, the
earnings of some railroads must presently de-
cline. Meanwhile it is clear that exports were
not improved by the recent upward rlsh IN
prices For the week ending Last tuesday, the
cxpo.ts from New-York showed a decrease OF
20 per cent compared with last year while The
imports for last week showed an Increase
though it was not large But the exchanges at
New York and at other principal centres con-
iinue to show decided increase over last year
in the amount OF payments, which represent III
part of course, the result of transactions of
several months ago, but also in part the new
business done.
The passage of Mr.. Mornson's resolution has
concentrated attention upon the monetary
prospects, on which the Latest bank statement
casts but little light. Owing to changes Incl
dent to half-ycally payments, the statements
of July 3 and 10 bore less than the usual re-
lation to facts. Comparing the bank state
ments of June 26 and July II with Treasury
statements OF the same dates, it appears that In
three weeks the banks have gained 81, 100000
in Legal tenders, while Government holds
81. 9OO. 900 less than it did. But the banks
hold 81 100000 less specie, while the Treas
ury owns 81, 100000 less gold, and has only
increased $l,300OOO in silver. Apparently
some legal tenders were exchanged Tor goiu
last week, but the exports OF about P3, ,9OU,Ooo
gold during the three weeks account for more
th;.n has been lost by the Treasury and the
tanks together Recent payments OF dll'les
have been to surprisingly large extent III
legal tenders The use of silver certificates
does not increase but the use Of gold and gold
certificates has almost entirely ceased. 1t has
amounted to only 1-2 per cent of the whole
this month, against II II per cent silver
wear ago in June, just a third of the entire
pavments were in gold, third III silver and
thiId in legal tenders.
The fall of silver to AZ 81 d. per ounce, oc-
curing on the same day with the passage OF
The Morrison resolution by the House, attracted
scarcely any attention. Nobody supposes that
the United States has power any longer TO llit
the price of silver by any legislation the only
question is whether the currency OF this cOuh-
tiy shall be debascd to the silver standard,
and its gold sent abroad That would be
healthy thing for Great Britain and Germany,
and the Governments OF those countries have
the sense to know what ours does not that ma
tons do not get iich by trying to plunder their
own people The shinkage i'll exports OF lead
ng products, however, is evidently due to the
Judy boom,' which made buyers more Will
irg to wait Wheat slowly sank last week
from oS 5-S cents to 81 Is, and cotton from
. , to 1-2, while corn advanced five
cighths and oats thIee-eighths of Il cent. Rye
vas lower, with sales of State ut 5S. C0lfee
was lower ut 8 5-S cents sugar sold at 4 81
for raw Cuba and 1-2 for crushed ; and Lard
has been irregular. declining to 6.S3c. for Au-
gust, but pork has been strong at $ll 25tor new
mess, and oil edged up from 50 to 66 1-S.
Doings in the stock market were not impoi-
tant, though the net result is an advance OF
y cents in the average price OF sixty actve
stocks which closed at SCI 80. Erie issues
aud Trunk Line stocks have been strong, and
Western Union advanced the coal stocks were
weaker, and the price of coal declined to " 10
for Chestnut. 1t appears that the average
price received by the Lackawanna Tor coh at
Uoboken in June was 81 81, against ~ 96 IN
May and So - in June of Last year. The
steel rail combination fares better than the
agreement of coal-cariers it is now announced
that the output will be increased to 1,4OO,OOO
tons for the year. Copper is dull and lower,
and tin has been depressed by largo sales, but
lead is firm and higher. In the Labor world,
tie extraordinary speech of Mr.. Powderly be-
fore the glass workers, and their union with
the Knights of Labor can hardly be reckoned
Is promising improvement. No new disturb
ance of consequence has appeared during the
week, and the conviction of the boycotters at
New Haven marks some progress in defining
tie law for the protection of freedom OF labor.