when by far the larger portion of the receipts were entered directly for warehousing, so that the value thrown upon the market was exceedingly small. This year the reverse has been the case, the quantities put on the market having exceeded those entered at the port : FOREIGN IMPORTS AT NEW YORK IN NOVEMBER. Total entered at the port........ $11,947,188 $14,468,545 $13,417,960 $10,591,606 Withdrawn from warehouse..... 1,197,650 1,725,544 8,152,316 2,124,655 It will be seen that the imports of specie and bullion, from foreign ports, were unusually large last year-indeed larger than for any previous month within the last ten years. This leaves the total foreign imports at New York, since January 1st, $81,898,876 less than for the corresponding eleven months of last year, and $62,018,960 less than for the same period of 1856 : FOREIGN IMPORTS AT NEW YORK FOR ELEVEN MONTHS, FROM JANUARY 1st. Total entered at the port........ 142,386,719 201,541,405 221,421,318 139,528,442 Withdrawn from warehouse..... 22,266,546 24,097,168 87,024,982 35,684,657 Of the imports of dry goods during the month of November, the great bulk was thrown into warehouse last year, when less than four hundred thousand dollars went directly into consumption. This year the reverse is the case, and the larger proportion was entered for consumption. The receipts, during the month of November, are more than for the corresponding period of last year. IMPORTS OF FOREIGN DRY GOODS AT NEW YORK FOR THE MONTH OF NOVEMBER. Total entered at port....... $4,049,242 $4,458,111 $2,454,098 $4,008,155 This leaves the total imports of dry goods at New York, since January 1st, only $32,958,698 less than in the corresponding period of last year. The warehousing account is much less, showing an excess withdrawn from warehouse of $7,800,000, when the excess put into warehouse last year was $8,400,000, indicating the accumulation to be again diminished :— IMPORTS OF FOREIGN DRY GOODS AT THE PORT OF NEW YORK, for ELEVEN MONTHS, FROM JANUARY 1ST. Total withdrawn....... $8,870,057 $7,982,619 $14,081,128 $14,496,097 Add entered for consumption.... 53,386,262 78,636,091 66,116,396 49,001,658 Total thrown upon market... $62,256,319 $86,618,710 $80,197,524 $63,497,755 Total..... 987,403 1,123,993 2,561,074 738,385 639,755 1,904,663 584,319 $7,310,657 $9,250,711 $22,513,141 $6,669,271 Add entered for consumption.... 53,386,262 78,636,091 66,116,396 49,001,658 Total entered at the port..... $60,696,919 $87,886,802 $88,629,537 $55,670,929 VOL. XL.NO. I. 6 The export trade for the month shows a decline even from last year, when the difficulty of negotiating foreign exchange and the general derangement of business affairs checked exports. The decline is owing to the low rates of breadstuffs abroad :— EXPORTS FROM NEW YORK TO FOREIGN PORTS FOR THE MONTH OF NOVEMBER. Domestic produce.. Foreign merchandise (free)...... Total exports....... Total, exclusive of specie.. $9,792,455 $10,755,189 $10,065,713 $4,337,605 8,780,555 7,799,350 6,826,482 3,865,635 This leaves the shipments from the port of New York since January 1st, exclusive of specie, $26,257,550 less than the corresponding total of last year :— EXPORTS FROM NEW YORK TO FOREIGN PORTS FOR ELEVEN MONTHS, FROM JANUARY 1ST. 1855. 1856. 1857. 1858. Domestic produce... Foreign merchandise (free)... . . . . Total exports....... Total, exclusive of specie... $89,314,858 110,209,903 105,626,870 $79,869,320 62,675,653 74,770,318 68,801,748 55,266,097 A considerable part of the difference, as compared with last year, is owing no doubt to the falling off in values, as nearly all articles of domestic produce are entered for export at lower rates, and this is likely to be still more strongly marked during the next six months. The cash revenue, as we have already stated, shows a very important deficiency, and there is now no question in regard to the emitting the remaining $10,000,000 of the loan to meet the current expenses of government :— The revenue at this port is now, since January, $10,000,000 less than last year, and $19,000,000 less than in the previous year, but for October and November there is a recovery over last year. JOURNAL OF BANKING, CURRENCY, AND FINANCE. UNITED STATES FINANCES FOR THE FISCAL YEAR 1858. The report of the Secretary of the Treasury for the fiscal year 1858, is an unusually interesting document, since it gives the effects upon the government finances of the panic of 1857. From it we extract the following figures. The report for 1857 will be found on page 81, volume xxxviii. :— The expenses were applied to the various branches of the public service as follows: Civil, foreign intercourse, and miscellaneous.. Service in charge of Interior Department.. War Department Public debt and redemption of treasury notes. As shown in detail by statement No. 1 $26,387,822 20 6,051,923 38 Deducting the expenditures from the aggregate means during the fiscal year 1858, a balance remained in the Treasury on the 1st of July, 1858, of.... 6,398,316 10 During the first quarter of the current fiscal year, from July 1st to September 30th, 1858, the receipts into the treasury were as follows: The estimated receipts during the three remaining quarters of the current fiscal year to June 30th, 1859, are— 46 miscellaneous sources $37,000,000 00 1,000,000 00 $38,500,000 00 Estimated ordinary means for current fiscal year $70,129,195 56 The expenditures of the first quarter of the current fiscal year, ending Sep War Department... For public debt, including redemption of treasury notes... Brought forward The estimated expenditures during the remaining three quarters of the current fiscal year to June 30, 1859, are Ordinary means as above... Deficit of ordinary means to meet expenditures... $6,392,746 38 1,994,304 24 8,224,490 04 4,086,515 48 1,010,142 37 $21,708,198 51 52,357,698 48 $74,065,896 99 70,129,195 56 $3,936,701 43 The deficiency in the ordinary estimated means to meet the estimated expenditures during the remainder of the current fiscal year, ending June 30th, 1859, are therefore $3,936,701 43. There are extraordinary means within the command of the Department as follows: Treasury notes which may be issued previous to the 1st of January, Makes the aggregate means to June 30th, 1859....... Leaves an estimated balance in the Treasury, July 1st, 1859, of .. 66 receipts from customs for the fiscal year ending June 30th, 1860.... Estimated receipts from public lands $1,000,000 00 10,000,000 00 70,129,195 56 $81,129,195 56 74,065,896 99 $7,063,298 57 1st, 1860. $7,063,298 57 56,000,000 00 5,000,000 00 Aggregate of means for year ending June 30th, 1860...... Estimated appropriations to be made by law for the service of the fiscal year to June 30th, 1860 To this estimated deficiency on the 30th of June, 1860, should be added the sum of $3,838,728, which will be required for the service of the Post-office Department during the present fiscal year. This latter amount is not taken into the foregoing estimates, but is asked for by that Department, as will appear from the letter of the Postmaster-General accompanying the annual estimates. The foregoing estimates contemplate a deficiency in the means of the government, which, by the 30th of June, 1860, will amount to the sum of $7,914,576. |