THE REVIVAL IN TRADE.

Globe, Volume XXII, Issue 1846, 22 January 1880, Page 3

THE REVIVAL IN TRADE.

The figures of the Trade and Navigation Returns for October again give proof of the renewed activity in business. Both exports and imports show increased values compared with the corresponding months of last year. On the exports the increase is not much, being but 2$ p;r cent.; but it is something to have to say that the period of continuous decline is past. As yet, however, the scope of the trade revival is not very wide. It is_ most noticeable in iron, which has increased in the quantity exported 57 per cent., and in wool, which has increased 179 per cent. ; but in other cases, if we except copper and jute piecegoods, the revival of business is not very marked. Both woollen yarn and piece goods show a considerable decrease compared with the corresponding month of 1878, and there is no marked increase in the export sf cotton goods, while the export of yarns has fallen off. In short with few exceptions our exports of manufactures continue to be in a measuro inelastic, and the great increases are mostly in raw products or in prepared materials to be used in foreign manufactures. The trade revival is thus, so far as exports go, restricted, but it is real enough, and Eiay, perhaps, extend considerably as time goes on. It is noticeable in regard to prices that the effects of the late speculative inflation are as yet barely visible on the value totals. Iron and steel, for instance, show an increase of only 19 per cent, in tho value compared with 57 per cent, in the quantity, and cotton goods are likewise lower in price than a year ago. Most of the shipments of October must therefore have been made at stagnation prices, and it will be interesting to see whether the increase in quantities will be as marked when tho higher prices naw prevalent begin to rule for foreign orders. As regards imports, there is not muoh that is cheering to say. The aggregate increase of 9 per cent, represents but a very small fraction of tho augmented food necessities of the people. Were is not for the severe falling off noticeable in a few articles of luxury or of raw produce, these food requirements would have made the increase very much more marked. Whave but to single out a few of the food staples in order to make this clear. For example, our imports of bacon have been 34J ! per cent., of butter sl£ per cent., of wheat 22 per cent., of barley 14| per cent., of wheat flour, 64£ per cent., of potatoes, 316 per cent., ot raisins 50 per coat., and of tea 23 per c3nt. more in quantity than in October, 1878. In some cases prices have been higher and in others lower, but tho higher prices predominate, thus making the sums in the aggregate payable for food far more this year than l»st. The total amount due by this country for articles of consumption imported during October was about £14,000,000, out of a total of £32 316,000.