DESCRIPTION OF IMPORTS FOR THE YEAR ENDING JUNE 30TH. IMPORTS OF DRY GOODS AT NEW YORK FOR THE YEAR ENDING WITH JUNE. As the trade in each of the last three years has been affected by our domestic troubles, we have thrown together the corresponding totals since 1850, which will be found very interesting as showing the progress of this branch of commerce for thirteen years: IMPORTS OF FOREIGN DRY GOODS AT NEW YORK. The above shows that if we except last year, we must go back over ten years to find another total as small as for the year just closing. Some will regard this as an evidence of prosperity, on the old high tariff theory that when more goes out of a country than comes back, then the balance of trade is in our favor. The revenue for customs shows a relative loss, the total gain in receipts being far less than the comparative gain in the dutiable imports. We annex the total for the month, for six months, and for the fiscal year: The exports of produce and merchandise from New York in June, show a gain of about 50 per cent in the nominal value over the corresponding total for last year: $25,063,388 08 $23,843,077 97 36,193,034 43 51,033,806 61 EXPORTS FROM NEW YORK TO FOREIGN PORTS DURING THE MONTH OF JUNE. The shipments of specie are far less than for June of last year, that total being the largest of any similar month in our history. The following will show the relative exports from New York during the last six months: EXPORTS FROM NEW YORK TO FOREIGN PORTS FOR SIX MONTHS FROM JANUARY 1ST. 1861. 1862. $59,005,373 $87,793,188 1863. Foreign goods (free).... Foreign goods (dutiable).. Specie and bullion..... Total exports.... Total exclusive of specie.. $69,850,669 $89,850,263 $112,293,601 66,601,231 61,873,912 91,661,634 We also bring forward our totals from the previous July-as the month of June completes the United States fiscal year. The total for the year is the largest ever on record. The previous year was the highest point then reached, and this exceeds that by upwards of $50,000,000, without reckoning the gain in specie. EXPORTS FROM NEW YORK TO FOREIGN PORTS FOR THE FISCAL YEAR ENDING JUNE 30TH. Domestic produce.... Total exports... . . . . $150,386,522 $162,830,745 $238,815,181 Total exclusive of specie.. 126,525,665 133,867,582 186,722,544 These statements have been waited for with much interest, as many are much interested in making up the balance of trade with a view of anticipating the course of exchange. We furnish the figures and leave the deductions to others. The imports are valued by an arbitrary standard, which, in most cases, is a little below the specie basis. The reports of produce and merchandise have been reckoned by their paper or purchasable value. The total of each is taken from the sworn entries at the custom-house, and in this sense the figures are official, and must therefore agree exactly with the government returns. It has occurred to us as a matter of no little interest to make an examination into the relative business by American and foreign vessels, to see how far the trade under the Federal flag has been affected by our domestic troubles, and the consequent "perils of the sea." We find that the change has been very important, as shown in the following comparison between the entire business of the year 1859 and the year 1862, at this port: FOREIGN COMMERCE OF 1859 AND 1862 AT THE PORT OF NEW YORK. The totals here given are made up in a different method from the regular monthly summaries, and give the trade by arrivals and departures instead of the trade by entries at the custom-house. This will explain the discrepancies in the returns; but this record is also official, and more convenient for reference. It shows a very great change in the business of the port. In 1859, the commerce by American vessels exceeded that by foreign vessels to the amount of $44,000,000. In 1862, this was reversed; and the commerce by foreign flags exceeded that by our own flag to the amount of $89,000,000. A considerable part of this change must be owing to the greater employment of American ships as government transports; part of it is also due to the fact that much of the importing business is done by the steamers, now all under the foreign flag; and still another reason for the change may be found in a covering transfer of vessels to a foreign flag for convenience and safety. But after making every allowance for these influences, it must be evident that the fear of depredations on our commerce, by the Confederates and privateers, has driven a large portion of our foreign trade to neutral vessels. We believe that the change here set forth has been greater than was generally expected, and we shall be surprised if it does not attract the serious attention of our Chamber of Commerce. may be that the head of our Navy Department realizes these facts, and is making vigorous efforts to protect the commerce under our flag; but there has been at times an appearance of indifference at Washington, which, to those who are vitally interested in these changes, seemed quite inexplicable. At any rate, the shipowners cannot be too earnest in calling attention to this important statement. PETROLEUM FROM JANUARY 1ST TO JUNE 30TH. It The wonderful growth of the petroleum trade may be best understood by an examination of the following table, showing the amount exported the first half of the years 1861, 1862, and 1863. This table is prepared by the editor of the Philadelphia Coal Oil Circular, a very reliable publication. The daily production of oil in the Pennsylvania districts is from five to six thousand barrels. The subsidence or cessation of old wells is almost invariably cotemporaneous with the striking of new ones, of greater or lesser capacity, so that the average daily flow remains unchanged. Drilling is prosecuted without intermission in almost every direction, and new sources of oil are likely to be discovered almost any hour. Many of the large wells have, however, fallen off largely in their yield, frequently affected by proximate wells, whose flow seems to appreciate in proportion. The stock of oil on the creek is not accumulating to any great extent, unless it be at the mouth. This latter is not, however, on the market, but is awaiting a rise in the Alleghany River for shipment to Pittsburg. It is, moreover, to a great extent already contracted for to Pittsburg refiners. The tankage capacity on the creek is vast, but, as yet, many of the tanks remain empty. At the "new well" oil is taken away as fast it as flows from the ground, teamers frequently being compelled to wait awhile, until the first receiving tank shall have accumulated a sufficient quantity from which to fill their empty barrels. The demand for oil at the wells is active, and prices are decidedly firm. On the creek oil brings readily $3 50 @ $3 75, some holders asking $4. Empty barrels are quickly taken at $3. The stock of " empties" is, however, much larger than has been generally reported, both at Titusville and at the wells. Teaming is firm at $1 the barrel. Oil delivered on the cars at Titusville, in barrels, finds a ready market at $8. Buyers at these quotations are at present more numerous than sellers. PRICES CURRENT OF ACTUAL SALES OF CRUDE AND REFINED PETROLEUM IN NEW YORK EACH MONTH DURING THE FIRST HALF YEAR OF 1863. The following is the table referred to above: EXPORTS OF PETROLEUM FROM THE UNITED STATES DURING THE FIRST HALF |