a continued outward current of specie, which has been comparatively as follows: SPECIE AND PRICE OF GOLD. 1861. 1862. January 3. ...... 46 10. 1,277,788 24. 627,767 Received. Exported. Received. Exported. Gold in bank. Prem. on gold. 1,380,247 780,816 Total.... 1,513,690 2,347,793 2,956,628 3,569,257 The rapid rise in gold, and the probability of its continued rise under the flood of paper, with the active demand for gold for export and for customs, unsettled the exchange market. Few drawers were disposed to name a price for bills, the rates of which were, however, for the steamers, as follows: The business of the port for the month of December showed some decline towards the close of the year, as the general effects of interrupted industry are beginning to tell upon the power of consumption. The small prices obtained at the West for goods, added to the higher freights collected in paper money, diminish the power of consumers. The 800,000 men drawn from active industry to serve in the army and navy were for many months without their pay, and, as a consequence, all the expenditures dependent upon that pay were cut off. The amount of arrearages at the close of the year was not far from $100,000,000—a sum which very materially affects the course of business. Spread by several hundred thousand hands through small channels of business, it caused a demand for goods which would be very sensibly felt at the commercial centers. In the second week in January Congress promptly passed a bill authorizing the issue of $100,000,000 more legal tender notes for the express purpose of meeting those arrears. These were rapidly printed in large denominations, which were made available for the desired purpose with the banks. The operation will favorably affect business. This issue makes $400,000,000 of government paper money, and will doubtless be followed by more, since it will suffice for no more than is due, and will not keep up with current expenditures. The operation is, on the part of government, only so many orders for merchandise on the people at large in favor of the troops. Food, clothing, family supplies, etc., are given by the people to the soldiers for this paper money or orders, which the government must subsequently take care of. The want of these issues during the last three or four months, when the arrearage has been accumulating, has affected the trade of the city to some extent. IMPORTS, PORT OF NEW YORK. -Entered for Specie. Free goods. Consumption. Warehouse. Total. 62,007 3,381,473 7,058,174 8,370,486 18,872,140 4,841,846 18,719,866 July. 219,001 4,502,764 20,353,202 August 92,713 982.992 10,289,427 2 939,721 14,304,848 September. October.... 8,462,554 256,676 1,004,870 109,708 1,526,496 6,565,185 78,316 1,950,504 6,831,073 4,212,725 13,072,618 $1,390,377 $23,991,625 101,483,984 $45,486,431 $174,652,317 37,068,418 30,353,918 54,254,231 41,072,228 162,768,790 The quantity of goods imported declined towards the close of the year under the paralyzing influence of the rise in bills and in the price of notes in which duties are paid. The sudden fluctuations in these two items makes the importation of goods a very hazardous operation. The amount of goods-duty paid-and the amount of customs duties have been for three years as follows: The average duty charged in the past year has been, it appears, 36 per cent. The actual cost of imports has, however, much changed. If we compare the month of April with December the results are as follows: Thus the average imports of December cost 44 per cent more than in April. These figures indicate the gambling nature of importations under the present arrangements. In the second week in January exchange rose 17, and gold as much-touching 49-making a rise of 20 per cent in the charge for importations. It is not surprising that the arrivals of goods declined under this double process of greater cost and lessened demand by reason of the arrears of the army. The exports, on the other hand, were apparently maintained as follows: January EXPORTS, PORT OF NEW YORK. --Foreign.——— Free. Dutiable. Domestic. Total. Specie. $2,658,374 $27,193 $149,493 $12,053,477 $14,948,437 ... ... September... 3,085,919 572,572 667,987 14,734,993 19,061,471 October.... 434,265 19,476,947 26,797,936 November. 20,603,906 December.. Total, 1862.... 46 1861.... 6,707,519 179,205 $59,437,021 2,853,848 $4,901,383 $149,179,591 $216,371,843 4,236,250 2,154,947 5,203,959 131,235,995 142,931,151 The exports were nominally maintained down to the close of the year. The domestic exports were about the same in December as in July; but the rate of exchange was 20 per cent higher in December, representing to that extent a fictitious export value. The bonus conferred upon shippers by the rise of bills was counteracted to some extent by the decline in prices abroad. The average price of wheat in England fell in the last six weeks of the year from 60s. per quarter to 45s. 7d., and on the 1st of January stood 15s. per quarter, or 46 cts. per bushel, lower than at the same date last year, while in New York it is 16 cts. higher in paper, making a difference of 62 cts. per bushel against the shipper.* The exports of specie for the year from the ports of New York and Boston amount to $62,213,122-a net export, in round numbers, of $61,000,000. * In reply to a correspondent, we may say that the imperial quarter is eight imperial bushels, or about eight and one half Winchester or American bushels. Thirtythree American bushels are equal to thirty-two imperial bushels. The English shilling is 24 cts. 2 mills; hence to reduce London rates to New York cash prices, divide the shillings per quarter by 33, and the result is the price per bushel. STATISTICS OF TRADE AND COMMERCE. TRADE AND COMMERCE OF THE PORT OF NEW YORK. WE gave last year, (Merchants' Magazine, vol. 46, page 274,) the returns for the years 1858, 1859, 1860, and 1861, and now add the figures for 1862. In the receipts, comparing them with the previous year, it will be seen that flour, meal, wheat, oats, and provisions have largely increased, and there is only a slight falling off in Indian corn; while in the exports the shipments of breadstuffs are not up to last year, although very large: RECEIPTS OF CERTAIN ARTICLES OF DOMESTIC PRODUCE AT THE PORT OF NEW YORK FOR TWO YEARS. The receipts of tobacco during the year was 63,362 hogsheads. EXPORTS FROM NEW YORK TO FOREIGN PORTS OF CERTAIN LEADING ARTICLES OF DOMESTIC PRODUCE FOR ELEVEN MONTHS OF THE YEAR. |