New-York tribune., 1900-03-15
EEBRUARY COMMERCE.

The little month of February Is too short
winded to appear often among the record
breakers But this year 1t has barely missed
breaking all records for daily value of domes-
tic exports outside the chief staples. The ex-
ports of the staples were much the largest
ever known in February, and have been little
exceeded by only two months of the last eight
and by only four months In the previous year
all these being long months. The especial feat
was the shipment Of more cotton in value
than had gone out In any other month since
1898 which was due to the unusually high price
now obtained respects last October only,
the 734.324 bales shipped in February for
$50, ,S39,3T1 being surpassed by 790S55 bales in
October for only S2S,34S,41S, but having ex
ceeded shipments in every month since 1S9S
both in quantity and value. The February ship
ment of mineral oils was the largest for that
month, though often exceeded in other months.
The total value of the great staples exported.
500, ,5O7 .92S, S1332S 773 more than last year,
nearly all the excess being in cotton, and was
larger than In February of any previous year,
but the aggregate value Of exports would have
been far surpassed in many months except for
the remarkable magnitude of the minor exports
The value of all exports in February was
S119,Ioo.162. an amount never equalled in any
month until about two years ago. and in aver
age daily, $4,270.00O never surpassed except
slightly by $4,44O,OO0 in December last and
S4,32O, 600 in November The remaining domes-
tic exports, after deducting cotton, breadstuffs,
provisions and oil, S4S. .206, ,S4S in Febru-
ary, or $1.I21 600 per day, and in December they
were S1,I2S,000 per day, in November only
$1,6S4,000 per day, in January $1,64J,00O per
day, and in other month have they been as
large as sl,6OO0OO daily. Thus February sur
oil tn
daily exports of domestic products not of the
great staples, and fell short by only $1,000 daily
of surprising ali other months. The character
of the exports will not be definitely known
until the final statement, now issued by Chief
Austin with promptness never before attained
within about twenty-five days after a month
closes. But it may be inferred from January
returns that the exports of iron products, in
cluding machinery. were more than double those
of petroleum. and that exports of copper and
wood manufactures each exceeded in value the
exports of cattle.
The imports In February were in value
$6S,I "A. 100. little less than the value of the
great staples exported, and were smaller than
in any other month since August. 1t seems
probable that the unusual rush for materials
of industry which greatly swelled the i'm
ports Of many previous months has been some
what abated by receipt of large supplies and
In articles of food and in luxuries the same
reason exists for supposing that the decrease
apparent in February may continue. Weekly
returns show that in March thus far the i'm
ports have fallen considerably behind those of
last year. But there resulted in February an
excess of exports over imports amounting to
$50991 .612 which is about as much as the
weekly returns had foreshadowed making the
excess for eight months of the current fiscal
year 1894 800, ,469 1t will refresh some memo
ries to add that no such excess had ever ap-
peared in any full year until 1898. So great
merchandise balance enables the country to
enter with assured confidence upon a new
monetary era under the act which the President
signed yesterday.
The movement of precious metals in Febru-
ary was not important, as the net imports Of
gold were only $495,72 while the net exports
of silver were So 166549. For eight months of
the current fiscal year the country has received
of gold from other countries in excess of gold
exported only S6,91S,352, which shows in strong
light the pressure for the precious metal felt in
European markets, since the Indebtedness to
this country has been heavy enough to insure
large movement in this direction If there
had been only moderate demands abroad. AS it
is. Europe is paying interest several hun
dred millions of Indebtedness to the United
States, in part balancing interest and profits on
sums previously invested by foreigners in this
country, and is borrowing here for the first
time by official acts of Governments. Russia
having recently placed considerable loan here,
while part of the English loan just offered has
been taken by institutions in this country.