New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-27
THE MONETARY SITUATION.

Since May the exports OF gold from this port
have amounted TO 100000. The Treasury dis
bursements at this point for the purchase ot Donds
during the same period have amounted 70 about
50, 600. 600 Yesterdays bank statement shows
cash holdings Of S6,000,0O0 greater than by int
statement of May 4. This shows that the move
ment from the interior TO the newborn Ohhks
has been equal to the exports OF gold ana accounts
for the continued in money at TINS point Whl'
ruled at about per cent during all last week ana
at about per cent for time money. FOR nan I, :"
century it has been natural for money u mo- =
eastward in the spring Of the year ana weSI"nru
in the autumn as for water to seek JUS lCNeL nc
few exceptions Of imports OF gold IN inc spTIlS
during the last few years have been lnhuehccu Wy
pyceptional causes and were not productive OF a
stable easy money market. Ihht money is hO'
idle is shown by bank loans now OF sil@'ooI,Vov'
against 1864, 100000 twelve months ago: "o
mics and other institutions are IehuIh6 PIop'niH :
propurtionate increase on their loans OF PreceIns
years Hence the continued ease IN m3ncS, wien l
excitcs comment, is not due TO u smaller employ
ment OF II. ; ,,,r q
by the United States there has been an vi Gus
| O. pansion in the gold and silver money OF INC
country produced not only from our mlhcs Nh.
silver coinage averages S32,OOOO0O year. Dl'
also by an importation OF gold. Added 70 thAt thr
extension NJ the banking system into all secuohS
M the country and the greater employment thereby
Of exchange and letters OF credit nave maternity
reduced the requirements OF money Tor actual GU
culation. To q very large extent the banking CAPT
tai OF the country is made up by an aggregation oi
small contributions which, before they were Joined
together were simply sums boarded and Also
lutply useless for all commercial purposes.
The Treasury statement OF the commerce or Lie
country during the last ten months shows hpld
liouidation Of n ch-talked-about balance OF
trade The exports OF gold from this port since
that report WAS made furnish s9OOOOOo hdui-
tional toward q complete liquidation, and so TAR as
10 is possible TO Judge from the movements ~ hs
port the merchandise movement Tor The 'hth ,e Oh
MAY is likely 20 be more favorable 70 the .huy
than in the corresponding months OF =. oedlng
years For the moment, however, the foreign eT-
changes are ruling strong and 10 Is not lmprooaue
that further shipments Of gold may BE required 10
settle Immediate ha anCeS. The Treasury may ad-
vance its price for bonds 5-S per cent ana vet
with the accrued interest he paying no hlcher u
price than it was when the Secretary began ms
purchases on April /. SO il may be confidently
expected that the accommodating money IN the
Treasury will be No the command OF bondholderS
il further exports Of gold should I've 10 such an eN-
tent as temporarily TO harden materially the rates
for money.
RAILROAD EARNINGS.
Tho Tribune has printed the gross earnings OF
seventy railroads or systems for tho second week
in MAY The whole number give an aggregate
gain Oh the week OF 1883 OF s2,5l %, OF oh1 yer
cent or the total number. hity-four companies
give gains averaging 90 per cent and sixteen
losses averaging ga per cent For the thlrl week
of NAV ONLY eighteen companies as yet, have ~,
ported but OF the number fifteen have rrturh"l
gains and only three 10 The whole give an aR-
rrcVatc gnin Of 81 G94OG. or ll.l1 per cent nc
following tables divide the aggregates ana u'Hef-
ences of those showing gains and io"Ffs
S cS9pa in Nay osa 81 Inc sis@
C0mpanieS.... SoSsSt :v-A'4 Dec Il,oo %
Total IS cos SIS 80 Gloss a22 Inc sIGg lo5 II II
TSGH IN nay 90 ssS 1ss e. Inc 90 -;
10 COmpanics...-. sl6A35 1''.o@' Dec ." So %