The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-24

International trade results
satisfactory last month than in October, which
was a noteworthy month in many respects.
Taking the two together. exports valued
at over $500 600. which far surpasses the
highest previous record for consecutive months.
although each was slightly exceeded by the
phenomenal shipments in October. 1900. AS the
maximum point for this season has now passed.
and it is unlikely that such special conditions
will again prevail in the future, it is safe
TO presume that the high-water monthly ex-
ports attained three years ago will not be
passed for some time to come While indi
vidual record for total value of exports
established in November, 1t made a gratifying
exhibit in many respects. and did much to place
foreign finances At this season there is always
much money sent abroad. Annual interest
by Re ana IN g ghs for
of drafts. In addition, special movement of
gold has occurred through the return of thou
sands OF wage earners. taking home their saw
ings, which have been large during the last
rev years or abnormal prosperity. This return
at the beginning of winter reached unusually
large proportions this year owing to the dimin-
ness to many. Doubtless they will return in
the spring, If the expected revival occurs. and
there arises an. attractive demand for labor.
Meanwhile the country has lost large amount
of money that would be missed were il not for
About ST. 500 900 in gold has been engaged for
shipment to the United States since the move
forcing rates of foreign exchange down to a
point where Europe had to give up the yellow
metal Notwithstanding artificial barriers in the
shape OF high rates for money and exceptional
quotations for bar gold. If any requires
explanation of the fluctuations in exchange il is
surely provided by the latest monthly state
ment of foreign commerce. Not only
an extent that on merchandise account alone
the United States was a creditor in the mar
kets of the world to the extent of $S3. 1893, 7S4.
and when the October account is added there
appears balance in this nations favor of
S6l. $50 900 for the two months. Hence the licui-
was really small installuient. Cotton was, of
course, the chief factor exports OF the South
ern staple establishing new monthly record
at $67, 900 000 while for two months the ship
ments reached S127, 000, 600. AS to quantity the
outgo was larger than usual, but not strkngly
so; the great increase in value being due to an
average export price of los cents per pound for
the entire month of November In three months
OF the season foreign spnners have taken about
half their normal requirements for year. de-
spite the small movement in September, owing
TO the lateness OF the crop in maturing Ii is
growing more evident, ,as the season advances
that spinners outside this country provided for
in advance than domestic spinners, which In
not encouraging for export trade In cotton
goods this
Exports of manufactured products on the
whole, however compare very favorably for
the latest months. In September they were
slightly smaller than in the same month last
year; in October there scarcely any differ
ence in comparison with 1902 and in November
a moderate gain appears. Full returns are not
yet available, but close approximation be
reached by subtracting the agricultural exports
from the total.-Dun's Review