New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-17
THE RECEIVERS TAKE PRECAUTIONS.

,,o.o ia obvious connection between four
o,.ortsthc call for gold by the syndicate Tue
change by London from purchases 10 SAFES Vi
.,,or;con securities the deficit or over $oo'o"'-
600 I, Government revenues, and the decrease
t., ov,or,s Of domestic products. These things
=. ,o, rrovc that the recovery in business has
,,onnod They only show that it Is not COM
,,,o,o and that the effects Of vicious Democratic
,n,,s,,t,on have not entirely passed
'r,ro creat iron vessels, after waiting here for
-, =, month or more have left this port one
Going all the way TO Australia to receive 1releht
hing which has not happened for more than
,,r,, vo,rs. II IS said. The value OF exports OF
domestic products last week was only st'oi-''"-'
sn,aI,or than in any other week for two years,
''I ,,,,s l. not because the country has nothing
To-, ,o sell for It's stocks of unsold cotton and
uho,, are uncomfortably large. Large crops
,,,is ve,r Id may with reason be hoped. Will as
SIRE an ample supply or exportaple Staples Out
+, ,s 70 he remembered that stocks held abroad
orc enormous especially OF cotton, so that Tree
movement outward may not at once follow
large yield. oo
rho Treasury deficit has risen above SoO50o,-
ooo for tho fiscal year. and seems likely 10 IN
,.ro,sc The importations have gradually dlmin-
isbcl so that they scarcely exceed those or last
,.o,r FOR thc last two weeks. and this involves
= hc,vy decrease in customs revenue under inc
Democratic tariff. Moreover, 1t Is decrease
which IS likely TO continue. because the large
mporta,Ions Of foreign products, particularly OF
drvcoods have not all been satisfactorily mar
lctcd. According to reports, the markers are
somewhat cloggcd with the excess OF supplies
nm hand awaiting purchasers. The present pros
,oc, IL that customs receipts for the remaining
six weeks Of the fiscal year will be light
Tho extraordinary buying Of American stocks
Inv London last week was largely due to the ds-
coycry when settling day came that these stocks
had been heavily ovcrsod with the rush to
cover there came natural but short-wlnhed buy-
ing by spectators. who saw that the covering
would cause "A temporary rise. II was equally
natural that the shorts who had settled with
losses should sell again. having the same opln-
ION of the future and wishing TO get back their
,,or,v and that the short windcl buyers should
-cu "a rcullzc Thus the sales on foreign account
b,v. exceeded purchases FOR the week thus FAR,
and vhilc II Is not certain what the future move
mcnt NAV be- there is at least reason for an'ici-
patlns that European purchases OF stocks may
mot serve 10 cover the adverse balance on mer-
slluiiSp account. WHICH,, WIN SIiiiiihlh- 'NP''''
of products. Is likely 70 be considerable. In
,nril imports exceeded exports Of merchandise
only s3.34s. 900. but undervaluatlons interest ana
freight charges will swell the adverse balance to
more than sl5.OOo.pD, and it may be larger ID
May and June
Presumably the syndicate calls upon It's asSo-
claies for the rest OF the gold they undertook TO
supply. because II judges. in view OF all these
AVID other circumstances. that occasion may arse
f.r controlling the exchange market or charging
The Treasury reserve during The next thrce
months Men Of real sIgaciiy In finance 40 ho'
privately indulge in the notion that all the vicious
effects - Democratic legislation have yet Dech
realized AMI such men take care To guard against
rossiir rcycrscs by timely precautions. II WAS
hnn'lia;ing 30 put the Treasury OF tho nit'd
states into the hands Of receivers. ana rather
costly AZ WE'LL but TO their credit 1t must be
,,iI that they are performing their functions
with a measure OF prudence AMI good sense
which the Administration has never shown.