The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-04-24
MONEY AND MERCHANDISE.

TRADE presented few features of especial i'm
portance last week. Industrial and mercantile
activity continued undated, as shown by the in
crease Of II per cent in the bank cearngs over the
same week last year. The increase at New York was
IILo per cent at Boston "A per cent at Chicago 25
per cent Philadelphia 81 per cent at Baltimore "a
per cent, at San Francisco 80 per cent, and so on
New Orleans and Omaha were the only cities OF i'm
portance throughout the country to show d loss
Business failures I87, against ga for the
responding week in 1893 As far as these statistics
80 the expansion in trade exhibits no dminution
This expansion, however, seems at the moment to
be domestic rather than foreign Our exports to
foreign countries in March fell off per cent below
those OF the same month last year The falling off in
cotton breadstuffs provisions mineral oils and live
stock amounted to $I8oooooo but this was offset by
d gain OF nearly 100000 in other products. The
total exports in March were $Io4463ooo, against
SII28Izooo in March, 1893, while the imports were
$72.7o3ooo, against $6I,5o7ooo. This decrease OF
S8354Ooo in exports and increase Of ST., 286 900 in
imports confirms the statements previously made
that imports steadily crawling up on our ex-
ports. We are doing more domestic business than
ever but buying considerably more goods abroad
In connection with the above showing it is inter
osting to note that the money circulation is falling
short OF the growing requirements Of our immensely
increased business. Henry CleWS, the New OTk
banker points out that there has been an increase
OF the money in actual circulation the amount hav-
ing risen from $I,756,oooooo on April I, 1893 to
$I,o27, 100000 on the Ist OF this month"; gain Of
$I78oo ooo but OF this increase SI12 100000 has con-
sisted OF gold which is almost entirely unavailable for
active in trade; that may say the increase in
the forms of money available for retail transactions
is only about 500 100000 within the last twelve
months This increase in the active circulation out
side OF gold IS at the rate OF 34 per cent while the
increase in the transactions OF the clearinghouse of
the country 468 per cent within the same period;
which shows amazing disparity between the ex-
panson Of the active circulation and that OF the gen
cral trade OF the country" This does not mean that
there IS a lack OF money, but only that convenient
forms OF it for conducting retail trade are wanting
AS long have actual increase in gold it will
be easy to supply its equivalent in lighter FORMS
The great staples stand about the same as on the
preceding week. Damage to the wheat crop in the
Western States has not improved prices much as the
weather is favorable the development OF spring
wheat. Wool is hardly active, but the market re-
mains steady with a fair movement The iron mills
are working up their full capacity but chiefly on
old orders. Cotton rules firm, but the current de-
mand is light.
The situation in California is one of great promise
With several exceptions the crops are looking excep-
tionally we'll and higher prices for the exceptions
noted will offset the decrease in the yield EVERYBODY
expects fine year for the farmer and merchant and
if present indications are fulfilled we will break more
than one record in I8oo